The Origins of Lloyd’s | www.lloyds.com
The origins of Lloyd’s go back to a coffee house in the 17th century. Opened by Edward Lloyd in 1688, this significant meeting place close to the River Thames in London, was frequented mostly by sailors, merchants and shipowners who discussed maritime insurance, shipbroking, and foreign trade.
Insurance in the 17th and 18th century did not work as we know it nowadays. Individuals would guarantee or assure the commercial risks personally. Edward Lloyd and his immediate successors issued a news-sheet providing reliable information about marine affairs which would lead the coffee house into becoming the go-to place for marine insurance.
After Edward’s death in 1713, the coffee house still remained a meeting point for business related to insurance and other industries. To present, the name Lloyd is tantamount to insurance throughout the entire world. As an unparalleled insurance group, Lloyd’s is recognized for its wide range of products and for the insurmountable security behind its policies. Edward Lloyd probably never imagined the international prestige his name would come to take.