Are Lloyd’s of London and Lloyds bank related at all?
They are not, they just happen to have a similar name. Lloyd’s of London is an insurance market, whereas Lloyd’s bank is a bank. They were both set up by people with the surname Lloyd - Lloyds bank was formed by John Taylor and Sampson Lloyd, Lloyd’s of London by Edward Lloyd. Perhaps in the mists of time those two were distantly related but that’s about it for a link.
Do people drink a lot at Lloyd’s? Do I need to drink to get ahead at Lloyd’s?
Go back a couple of decades and the culture (I’m told, I wasn’t actually there) was that casual daytime drinking was not just acceptable, but an indispensable part of how business was done and relationships maintained. The London market is certainly changing though, and drinking is a lot less integral to how the market functions than it used to be.
Here is one writer’s experience of what it was like being a broker in the 70s:
To give Lloyd’s some credit, it is attempting to clean up its act, for example it recently banned anyone under the influence of drink or drugs from entering Lloyd’s:
I'd be surprised if the market is 100% compliant, just go to the Lamb at lunchtime… but it’s at least a step in the right direction.
I work as a pricing actuary at a reinsurer in London.