Lloyd's of London

Lloyd's of London, commonly known simply as Lloyd's, is an insurance and reinsurance market based in London, England. Unlike most companies competing in the insurance industry, Lloyd's is not itself an insurance company. It is a corporate body governed by the Lloyd's Act 1871 and later acts of Parliament, operating as a partially mutualised marketplace where multiple financial backers, organized into syndicates, pool and spread risk together. These underwriters, called members, include both corporations and private individuals, the latter traditionally known as Names.