Lloyd's Coffee House
Encyclopedia
Lloyd's Coffee House was a coffee house opened by Edward Lloyd
around 1688 in Tower Street, London. This establishment was a popular place for sailor
s, merchant
s, and ship owners, and Lloyd catered to them with reliable shipping news. The shipping
industry community frequented the place to discuss insurance
deals among themselves. The dealing that took place led to the establishment of the insurance market Lloyd's of London
and several related shipping and insurance businesses.
Just after Christmas
1691, the coffee shop relocated to Lombard Street
. Merchants continued to discuss insurance matters here until 1774, long after Lloyd's death in 1713, when the participating members of the insurance arrangement formed a committee and moved to the Royal Exchange
on Cornhill as The Society of Lloyd's.
and has been re-erected on display at the National Maritime Museum
. A blue plaque
in Lombard Street
commemorates the coffee house's location.
Edward Lloyd (coffeehouse owner)
Edward Lloyd ran the Lloyd's Coffee House in Lombard Street in the City of London which became a meeting place for merchants and shipowners. From the habit of their members to meet there, Lloyd's Coffee House spawned Lloyd's of London, Lloyd's Register, and Lloyd's List. There is no connection...
around 1688 in Tower Street, London. This establishment was a popular place for sailor
Sailor
A sailor, mariner, or seaman is a person who navigates water-borne vessels or assists in their operation, maintenance, or service. The term can apply to professional mariners, military personnel, and recreational sailors as well as a plethora of other uses...
s, merchant
Merchant
A merchant is a businessperson who trades in commodities that were produced by others, in order to earn a profit.Merchants can be one of two types:# A wholesale merchant operates in the chain between producer and retail merchant...
s, and ship owners, and Lloyd catered to them with reliable shipping news. The shipping
Shipping
Shipping has multiple meanings. It can be a physical process of transporting commodities and merchandise goods and cargo, by land, air, and sea. It also can describe the movement of objects by ship.Land or "ground" shipping can be by train or by truck...
industry community frequented the place to discuss insurance
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
deals among themselves. The dealing that took place led to the establishment of the insurance market Lloyd's of London
Lloyd's of London
Lloyd's, also known as Lloyd's of London, is a British insurance and reinsurance market. It serves as a partially mutualised marketplace where multiple financial backers, underwriters, or members, whether individuals or corporations, come together to pool and spread risk...
and several related shipping and insurance businesses.
Just after Christmas
Christmas
Christmas or Christmas Day is an annual holiday generally celebrated on December 25 by billions of people around the world. It is a Christian feast that commemorates the birth of Jesus Christ, liturgically closing the Advent season and initiating the season of Christmastide, which lasts twelve days...
1691, the coffee shop relocated to Lombard Street
Lombard Street, London
Lombard Street is a street in the City of London.It runs from the corner of the Bank of England at its north-west end, where it meets a major junction including Poultry, King William Street, and Threadneedle Street, south-east to Gracechurch Street....
. Merchants continued to discuss insurance matters here until 1774, long after Lloyd's death in 1713, when the participating members of the insurance arrangement formed a committee and moved to the Royal Exchange
Royal Exchange (London)
The Royal Exchange in the City of London was founded in 1565 by Sir Thomas Gresham to act as a centre of commerce for the city. The site was provided by the City of London Corporation and the Worshipful Company of Mercers, and is trapezoidal, flanked by the converging streets of Cornhill and...
on Cornhill as The Society of Lloyd's.
Traces of the coffee house
The 17th-century original shop frontage of Lloyd's Coffee House is owned by Lloyd's of LondonLloyd's of London
Lloyd's, also known as Lloyd's of London, is a British insurance and reinsurance market. It serves as a partially mutualised marketplace where multiple financial backers, underwriters, or members, whether individuals or corporations, come together to pool and spread risk...
and has been re-erected on display at the National Maritime Museum
National Maritime Museum
The National Maritime Museum in Greenwich, England is the leading maritime museum of the United Kingdom and may be the largest museum of its kind in the world. The historic buildings forming part of the Maritime Greenwich World Heritage Site, it also incorporates the Royal Observatory, Greenwich,...
. A blue plaque
Blue plaque
A blue plaque is a permanent sign installed in a public place to commemorate a link between that location and a famous person or event, serving as a historical marker....
in Lombard Street
Lombard Street, London
Lombard Street is a street in the City of London.It runs from the corner of the Bank of England at its north-west end, where it meets a major junction including Poultry, King William Street, and Threadneedle Street, south-east to Gracechurch Street....
commemorates the coffee house's location.
List of organisations named after Lloyd's coffee house
- Austrian LloydAustrian LloydAustrian Lloyd Ship Management is a shipping company based in Limassol, Cyprus with shipping emphasis on bulk carriers, car carriers, container ships, and reefers. It is the flagship company of the Österreichischer Lloyd Group founded in 1991 by Hans-Georg Wurmböck and Eberhard Koch...
- Germanischer LloydGermanischer LloydThe Germanischer Lloyd SE is a classification society based in the city of Hamburg, Germany. As a technical supervisory organization Germanischer Lloyd conducts safety surveys on more than 7,000 ships with over 100 Mio GT...
- Hapag-LloydHapag-LloydHapag-Lloyd is a German transportation company comprising a cargo container shipping line, Hapag-Lloyd AG, which in turn owns other subsidiaries such as Hapag-Lloyd Ships and a cruise line, Hapag-Lloyd Cruises which is now integrated into TUI AG, Hanover...
- Hapag-Lloyd Express
- Hapag-Lloyd Flug
- Italia MarittimaItalia MarittimaItalia Marittima S.p.A. is a shipping company with its head office in Trieste, Italy, and run by Evergreen Marine Corporation.-History:It was founded "Österreichischer Lloyd" in 1836 and became one of the world's biggest shipping companies by managing most oversea trade and passenger travel of...
- Lloyd (car)Lloyd (car)Norddeutsche Automobil und Motoren GmbH was a German brand created in 1908 and was owned by the Norddeutsche Lloyd shipping company. The factory was in Bremen...
- Lloyd Aéreo BolivianoLloyd Aéreo BolivianoLloyd Aéreo Boliviano S.A. was an airline serving as flag carrier of Bolivia. It operated domestic and international flights, aiming at passenger as well as cargo transport. LAB was active for more than 80 years, having been based in Cochabamba most of the time, with Cochabamba Airport being an...
- Lloyd WerftLloyd WerftLloyd Werft Bremerhaven GmbH is a dockyard in Bremerhaven, established in 1857 by Norddeutscher Lloyd. The yard employs 500 workers in an area of 260. 000 m². Ships with a draught down to 11,5 m can be accommodated.-External links:* website...
- Lloyd's Agency NetworkLloyd's Agency NetworkThe Lloyd's Agency Network was established in August 1811 by the then Committee of Lloyd's of London. They resolved that it is highly important to the interests of Underwriters, that a regular and universal system of intelligence and superintendence should be established in all the Principal Ports...
- Lloyd's ListLloyd's ListLloyd's List is one of the world's oldest continuously-running journals, having provided weekly shipping news in London as early as 1734. Now published daily, a recent issue was numbered 59,200...
- Lloyd's MIULloyd's MIULloyd’s MIU is a member of the publicly-quoted Informa group, with a history ofcollecting maritime data dating back nearly 300 years. Lloyd’s MIU data is published online , in hardback, on CD and in bespoke reports...
- Lloyd's of LondonLloyd's of LondonLloyd's, also known as Lloyd's of London, is a British insurance and reinsurance market. It serves as a partially mutualised marketplace where multiple financial backers, underwriters, or members, whether individuals or corporations, come together to pool and spread risk...
- Lloyd's RegisterLloyd's RegisterThe Lloyd's Register Group is a maritime classification society and independent risk management organisation providing risk assessment and mitigation services and management systems certification. Historically, as Lloyd's Register of Shipping, it was a specifically maritime organisation...
- NedlloydNedlloydNedlloyd was a Dutch shipping company, formed in 1970 as the Nederlandsche Scheepvaart Unie in a merger of several shipping lines:*Stoomvaart Maatschappij Nederland *Koninklijke Rotterdamsche Lloyd...
- Norddeutscher LloydNorddeutscher LloydNorddeutsche Lloyd was a German shipping company. It was founded by Hermann Henrich Meier and Eduard Crüsemann in Bremen on February 20, 1857. It developed into one of the most important German shipping companies of the late 19th and early 20th centuries, and was instrumental in the economic...
- P&O NedlloydP&O NedlloydP&O Nedlloyd Container Line Limited was an Anglo-Dutch worldwide ocean-going container shipping line, with dual headquarters in London and Rotterdam. The company was formed in 1997 by the merger of the container-shipping interests of the leading Dutch transportation company Royal Nedlloyd and the...