Lloyds of London
| Lloyds of London link Website | |
|---|---|
| Founder | Edward Lloyd |
| Headquarters | Lloyd's building, Lime Street London, United Kingdom |
Lloyd's of London, generally known simply as Lloyd's, is an insurance and reinsurance market located in London. The market has its roots in marine insurance and was founded by Edward Lloyd at his coffee house on Tower Street in c. 1686. Unlike most of its competitors in the industry, it is not an insurance company; rather, Lloyd's is a corporate body governed by the Lloyd's Act 1871 and subsequent Acts of Parliament. It operates as a partially-mutualised marketplace within which multiple financial backers, grouped in syndicates, come together to pool and spread risk. These underwriters, or "members", are a collection of both corporations and private individuals.
