ILU

Institute of London Underwriters. The Institute was set up in 1884 as the trade association for the company market specialising in marine, aviation and transportation insurance business. In 1986 the companies who made up the membership of the Institute joined together under one roof to form a marketplace where insurance brokers could broke their business with insurance companies in the same way as they did at Lloyd’s. The IUA (the International Underwriting Association of London) was set up on 1 January 1999 and all the ILU’s then members ceased their membership of the Institute and became members of the IUA (see IUA).