How 15th-century maritime trade birthed the global insurance industry
In short: Discover how the necessity of sea trade transformed London into a global financial hub. This lecture traces the evolution of marine insurance from medieval Lombard Street to the modern Lloyd's market.
The lecture explores the historical development of marine insurance underwriting in London, beginning with activities on Lombard Street in the 1400s. It examines how these early practices shaped the City of London and established a 300-year period of global leadership in the insurance industry.
The narrative connects well-known historical figures to the origins of the Lloyd's market, illustrating the industry's critical role in maritime commerce.
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Sources
- Summary by Intellect · source: Gresham and Defoe (underwriters): The Origins of London Marine Insurance - Dr Adrian Leonard
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