... position as a leading insurance provider. History of Lloyds 2.1 Origins In the seventeenth century, insurance of ships and cargoes was often underwritten by merchants who were willing to carry part of the risk of a voyage in return for part of the premium. Commerce of various types was transacted among the merchants who met each other at various coffee houses around the city of London. One of them, owned by Edward Lloyd, was situated near the River Thames and was frequented by merchants, ship owners and others having an interest in maritime ventures. Lloyd's Coffee House was situated in Tower Street and was in existence by 1688. Edward Lloyd encouraged the merchants, or 'underwrites' (they signed their names at the foot of the insurance contracts), because it brought extra business to his coffee house. He supplied shipping information and published a newssheet in 1696, called 'Lloyd's News'. 'Lloyd's List' superseded this ...

See this essay or coursework document in full right now