Formed in 2001 to unify the back office support for the London Insurance Market. It is owned by Lloyd’s (25 per cent), the International Underwriting Association (25 per cent) and by Xchanging (50 per cent). The company has combined the separate processing and settlement operations of Lloyd’s Policy Signing Office and the IUA’s London Processing Centre into a single service for syndicates, insurance companies and brokers. The company also has an e-business infrastructure to enable market participants to continue to compete effectively globally. Xchanging is a company owned by General Atlantic Partners LLC, a leading investor in IT, Internet and Internetenabled business.