When Brenda, a Lloyd's broker, places a risk for a client, whose agent is she acting as?

Brenda, as a Lloyd's broker, acts as the agent of the client when she places a risk. In this role, she represents the interests of her client in the insurance marketplace. This means she is responsible for understanding the client's needs and finding suitable insurance solutions among the insurers.

By acting on behalf of the client, she cultivates relationships with underwriters and negotiates terms to secure the best possible coverage. This agency relationship is central to the role of brokers, as their primary duty is to advocate for their clients and ensure their interests are prioritized during the placement of insurance coverage.

The other roles referenced, such as acting on behalf of the insurer, the market, or the regulator, do not align with the core function of a broker, which is to serve the client's needs and facilitate access to the insurance market on their behalf.