Which market is Lloyds of London classified as?

Lloyds of London is primarily classified as an international market due to its global reach and operation in the insurance and reinsurance sectors. It provides coverage for a wide array of industries and risks not typically covered by local and national insurers. As an iconic marketplace, Lloyd's operates as a hub where different syndicates come together to underwrite insurance from clients all around the world. This international characteristic allows it to attract a diverse range of risks and policyholders, facilitating transnational insurance solutions that often require specialized coverage that isn't found within local or domestic markets.

In contrast, domestic, regional, and local markets typically focus on insurance needs within specific geographical areas or within a country's borders, which is not the case with Lloyd's. Its ability to participate in and cover international risks distinguishes it as a key player in the global insurance landscape.