28 January 2008

Trad Work

A painting of a Lloyd's of London syndicate. Insurance is a horrible profession made bearable by frequent travel, if one is lucky, to London. The bald man in the middle is the underwriter. His assistant is to his left. The broker to his right "brokes" a risk or pitches an insurance placement. Other brokers que at the "box" and wait their turns.

The Underwriter had this painting commissioned by the artist, Frances Watt. Titled, "Hard Bargaining at Lloyds", it really is a cracking good depiction of how boring insurance can be. The young man in the foreground to your right is the Entry Boy. A charming description that does not translate well to North America.


Anonymous said...

As an Army Officer (AG desk jockey) turned Actuary I really enojyed this post. Love your blog and keep up the great work!

tintin said...

Don- AG to Actuary? Are you a Life guy or P&C? Or a Ka-Boom Guy (Reinsurance)? For some unknown reason your second comment didn't post. I'll include it here:

Could you please give some more info on the "Entry Boy"? My web searches have come up empty.

Are those television screens or bookshelves in the background?

Don- The Entry Boy at Lloyd's enters each and every risk that comes to the syndicate or "box" into a log. Usually a entry level position that allows him to observe the underwriters and brokers in action. If, what they do, can be called action.

And those are bookshelves. Usually, most of the files and paper on a risk are kept in the broker's offices where the real estate per sq foot is much cheaper than the rents at Lloyds.

Anonymous said...

'Entry Boy' doesn't translate well in London either.

Toodle pip.

tintin said...

Toodle Pip-
I assume (and hope) it's a job description unique to Lloyd's of London.

michael said...

I feel like I'm striking gold. My fiance is an underwriter for a Lloyd's syndicate and she was over in London sitting in the box; very different than the stateside SOP she tells me.

tintin said...

michael- This was syndicate 210. She might know it.