In 1688, Edward Lloyd opened a coffeehouse on London's seafront popular among underwriters, men in powdered wigs with mathematical minds and steely constitutions who offered to compensate owners if their boats were lost at sea.

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“In 1688, Edward Lloyd opened a coffeehouse on London's seafront popular among underwriters, men in powdered wigs with mathematical minds and steely constitutions who offered to compensate owners if their boats were lost at sea.”