The Lloyd's building (also sometimes known as the Inside-Out Building) is the home of the insurance institution Lloyd's of London, and is located at 1, Lime Street, in the City of London, England.
It was designed by architect Richard Rogers and built between 1978 and 1986. Bovis was the management contractor for the scheme. Like the Pompidou Centre (designed by Renzo Piano and Rogers), the building was innovative in having its services such as staircases, lifts, electrical power conduits and water pipes on the outside, leaving an uncluttered space inside. The twelve glass lifts were the first of their kind in the UK. It is important to note that (like the Pompidou Centre) this building was highly influenced by the work of Archigram in the 1950s and 1960s (see Plug-in City by Archigram for an example).
The building consists of three main towers and three service towers around a central, rectangular space. Its focal point is the large Underwriting Room on the ground floor, which houses the famous Lutine Bell. The Underwriting Room (often simply known as the Room) is overlooked by galleries, forming a 60 metres (197 ft) high atrium lit naturally through a huge barrel-vaulted glass roof. The first four galleries open onto the atrium space, and are connected by escalators through the middle of the structure. The higher floors are glassed-in, and can only be reached via the outside lifts.
Lloyd's of London, styled simply as Lloyd's, is a British insurance and reinsurance market. 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, but it is a corporate body under the Lloyd's Act 1871 of the British Parliament. Uberrimae fidei (Latin for "of the utmost good faith") 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. The Lloyd's building is located at 1 Lime Street in the City of London.
The market began in Lloyd's Coffee House, opened by Edward Lloyd around 1688 in Tower Street, London. This establishment was a popular place for sailors, merchants, 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. Just after Christmas 1691, the coffee shop relocated to Lombard Street (a blue plaque commemorates this location). This arrangement carried on 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.