Pronounce 'Lloyd’s Of London' Audio
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A Quick Overview of Lloyd’s Of London
Lloyd's of London, generally known simply as Lloyd's, is an insurance market located in London's primary financial district, the City of London. Unlike most of its competitors in the industry, it is not a company but rather is a corporate body governed by the Lloyd's Act of 1871 and subsequent Acts of Parliament.
Lloyd's serves as a partially mutualised marketplace within which multiple financial backers come together to pool and spread risk. These underwriters, or "members", are a collection of both corporations and private individuals, the latter being traditionally known as "Names".