Lloyd's of London

Lloyd's of London is not a single insurance company, but a market where multiple competing underwriters and syndicates write business. It originated around 1688 as a coffee house founded by Edward Lloyd, serving as a meeting place for the maritime shipping and insurance community.

The market is regulated by the Society of Lloyd's under UK law and overseen by the Prudential Regulation Authority and Financial Conduct Authority. Underwriting syndicates are backed by members' capital, which historically included private individuals known as Names and is now largely provided through corporate vehicles such as Lloyd's Limited.

Lloyd's specializes in underwriting complex and unusual risks, including aviation, energy, marine, catastrophe reinsurance, and specialty lines. Its ability to handle large or difficult-to-place risks is supported by market-wide Central Fund backing and independent credit ratings.