Lloyd's of London From Wikipedia, the free encyclopedia Not to be confused with Lloyds TSB or Lloyd's Register . For the film, see Lloyd's of London (film) . Lloyd's Building , London (centre-right foreground). The Gherkin shaped Swiss Re Tower is in the background. Lloyd’s Building as seen from across the street Lloyd's , also known as Lloyd's of London , is a British insurance and reinsurance market. [ 1 ] It serves as a meeting place where multiple financial backers, underwriters, or members , whether individuals (traditionally known as Names ) or corporations, come together to pool and spread risk . Unlike most of its competitors in the insurance and reinsurance industry, it is not a company . The Society of Lloyd's was incorporated by the Lloyd's Act 1871. Contents [ hide ] 1 History 1.1 Formation 1.2 First Lloyd's Act 1.3 Changes in the UK financial markets 1.4 Second Lloyd's Act 1.5 1988 - 1996 2 'Recruit to dilute' ...