Edward Lloyd Biography

Edward Lloyd was the owner of the coffee house that provided the name of Lloyd’s of London, the global insurance and financial institution. Little is known about Lloyd’s early career, other than that he opened his shop sometime before 1688. It became a popular spot for maritime business transactions, something Lloyd encouraged with a variety of services, including the periodical Lloyd’s News, a reliable source of business-related information. The original location was on Tower Street, but Lloyd moved in 1691 to Lombard Street. The business of shipping and insurance agreements continued after Lloyd’s death in 1713, and eventually a formal organization evolved. By 1774 Lloyd’s of London was out of the coffee business entirely and in the insurance business for good. Incorporated in 1871 by an act of Parliament, Lloyd’s of London went on to become one of the most famous insurers in the world, expanding from maritime interests to all types of insurance by 1900.