- published: 14 Dec 2009
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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.
Cher Lloyd (born 28 July 1993) is an English recording artist. Lloyd rose to fame when she finished fourth in the seventh series of The X Factor. Shortly afterwards, Lloyd was signed by Simon Cowell to Sony Music subsidiary Syco Music.
Cher Lloyd's debut single "Swagger Jagger" was released in June 2011. Despite receiving negative reviews, the single entered at number one on the UK Singles Chart and number two on the Irish Singles Chart. Her second single "With Ur Love" was released on 31 October, featuring Mike Posner, and peaked at number four in the UK, and number five in Ireland, preceding her debut album Sticks + Stones, which peaked at number four in the UK Albums Chart and number seven on the Irish Albums Chart.
Cher Lloyd used to live in Malvern with her parents Darren and Dina, and three younger siblings brother Josh, and sisters Sophie and Rosie. Lloyd attended Dyson Perrins CE Sports College, where she studied performing arts. She also attended theatre arts school Stagecoach.
Lloyd had previously auditioned for The X Factor twice before (when the minimum age was lower) singing ballads, but did not make it through. Lloyd has previously performed at holiday camps and said she gets a mixed reaction to her music, but was a big hit with x-factor judge at the time Cheryl Cole. She remarked on their similarity and Cheryl went on to support her throughout the show. She auditioned singing the Keri Hilson version of "Turn My Swag On". At bootcamp she sang a rap version of "Viva La Vida" adding lyrics she claimed to have written herself, but this was disputed and reports claimed she took them from a song by rapper Swizz Beatz. At the judges' houses she performed "Cooler Than Me" but suffered from tonsillitis and was unable to complete her song. She was given a second chance, but broke down sobbing and could not complete the song. Despite this, she was still picked as one of the final three girls by mentor Cheryl Cole.