Over 300 years ago Lloyd’s began in Edward Lloyd’s coffee house as a place where ship-owners could meet people with capital to insure them. Since then, Lloyd’s has grown from its marine insurance base to become the world’s leading market for specialist property and casualty insurance, covering some of the world’s largest, most complicated and unique risks.
Today, Lloyd’s remains a face-to-face market, with all the dynamism and innovation that a market generates. Like any market, it enables those with something to sell – underwriters providing insurance coverage – to make contact with those who want to buy – brokers, working on behalf of their clients who are seeking insurance. We gain our strength from the diversity of managing agents who choose to operate here, backed by capital from diverse sources around the world.
Lloyd’s is not an insurance company, it is a partially mutualised market where members of Lloyd’s join together as syndicates to insure risks.
Much of Lloyd’s business is written on a subscription basis, with more than one syndicate taking a share of the same risk.
The Lloyd’s market brings together an outstanding concentration of specialist expertise and talent.
