What type of business do local coverholders in Lloyd's primarily engage in?

Local coverholders in Lloyd's primarily engage in non-life business. These entities act as intermediaries between Lloyd's syndicates and the local market, allowing them to write various types of insurance products primarily focused on property, casualty, and specialty lines, which are all categorized under non-life insurance.

Non-life business includes a wide range of insurance types such as property insurance, liability insurance, marine and aviation insurance, and more. This diversity aligns with the operational focus of many coverholders who seek to address specific market needs and standards effectively.

In contrast, life insurance generally involves different underwriting principles and expertise that are not the primary focus of local coverholders affiliated with Lloyd's. While coverholders may have some engagement in various aspects of life insurance indirectly, their core operations predominantly revolve around non-life products.

Reinsurance is a specialized area that involves insurance for insurers and does not typically represent the direct business most coverholders engage in with local clients. As for auto insurance, it is a subset of non-life business but does not represent the full breadth of products that local coverholders work with within the non-life category.