Lloyd's of London

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Lloyd's, also known as Lloyd's of London, is a British insurance and reinsurance market.[1] It serves as a partially-mutualised marketplace 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. Uberrimae fidei (meaning utmost good faith in Latin) is the motto of Lloyd's.

In 2009, over £21.97 billion of gross premium was transacted in Lloyd's, and it achieved a record pre-tax profit of over £3.8 billion.[2] The Lloyd's building is located at 1 Lime Street in the City of London.

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