28 NOVEMBER 1958, Page 20

Lloyd's, in its palatial new home in Lime Street, is

still just as essentially an institution of individual underwriters as it was in 1691 when Edward Lloyd provided quill pens and ink for marine under- writers in his Lombard Street coffee house. For the transactions of its 4,000 underwriting members the Corporation of Lloyd's itself has no corporate liability. The Committee of Lloyd's applies such stringent financial and moral tests to applicants for membership, however, that the security Lloyd's offers bears comparison with that of the biggest insurance companies. Lloyd's today actively competes with the companies in all sec- tions of the non-marine market with the exception