What association of syndicate members is recognized as one of the largest insurance markets globally?

Lloyd's of London is recognized as one of the largest insurance markets globally due to its unique structure and rich history. Unlike a typical insurance company, Lloyd's operates as a marketplace where syndicates of underwriters come together to accept risks from a variety of sources. This system allows for a diverse pool of capital and expertise, making it particularly adept at underwriting complex or specialized risks that may not be covered by conventional insurers.

Lloyd's is known for its international reach, attracting business from around the world and often serves as a benchmark for insurance practices. Its members, known as syndicates, are made up of a range of participants including corporations, individuals, and other entities, which enhances its capability to offer coverage for a wide array of needs. This collective approach is what differentiates Lloyd's from other associations and solidifies its position as a leading player in the global insurance market.

Other options like the Insurance Pool Association, Global Insurers Syndicate, and International Risk Society do not represent the same level of global recognition, diversity of offerings, and historical significance in the insurance industry as Lloyd's of London does. Hence, Lloyd's stands out as the correct answer.