Lloyd's of London

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Lloyd's of London, generally known simply as Lloyd's, is an insurance and reinsurance market located in London, England. 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", include both corporations and private individuals, the latter being traditionally known as "Names". The business underwritten at Lloyd's is predominantly general insurance and reinsurance, with a small amount of term life insurance. The market has its roots in marine insurance and traces its origins to a coffee-house established by Edward Lloyd on Tower Street c. 1689, making it one of the oldest insurance companies in the world. Today, it has a dedicated building on Lime Street, a Grade I historic landmark...

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