( Insurance : General )
Originally begun to insure the safe passage of ships, today Lloyd's of London takes in just under 3 percent of all insurance premiums worldwide.
Lloyd's of London is not an insurance company, but an incorporated association of insurers that specializes
in marine insurance.
Lloyd's of London is an association of London underwriters which originally specialized in marine insurance
but now provides a variety of insurance policies.
Collins English Dictionary. Copyright © HarperCollins Publishers