Lloyd's began in Edward Lloyd's coffee house in Tower Street in the City of London during the 17th century. Lloyd himself was not involved in insurance but provided premises, reliable shipping news and a variety of services to enable his clientele of ships' captains, merchants and rich men to carry on their business of insuring ships and their cargoes. These wealthy individuals would each take a share of a risk, signing their names one beneath the other on the policy together, with the amount they agreed to cover. For this reason they were known as 'underwriters'. By the end of the 18th century the underwriters had elected a committee and moved to their own premises in the Royal Exchange.

On the right hand side, benches are visible, showing patrons still engaged in coffee drinking.