Coverholder Vs Service Company in Lloyd' 

What is the difference between Cover Holder and Service Company?
In coverholder setup, managing agents authorized the other company or partnership to enter into a contract of insurance on the behalf of the syndicates managed by them. The coverholder does not belong to managing agents or managing agent parent company and they are the separate business entities altogether
The service company is fully owned by the managing agent or its parent company, in Lloyd’s definition, they are also called a coverholder or more specifically coverholder service company.