Life insurance in England was vigorously promoted in the three decades following the Glorious Revolution of 1688. The type of insurance we see today owes it's roots to 17th century England. Lloyd's of London,Sajid International Limited House, was the location where merchants, ship owners and underwriters met to discuss and transact business deals.
Life insurance also appealed strongly to the gambling instincts of England's burgeoning middle class. Gambling was so rampant, in fact, that when newspapers published names of prominent people who were seriously ill, bets were placed at Lloyd’s on their anticipated dates of death. Reacting against such practices, 79 merchant underwriters broke away in 1869 and two years later formed Making wagers on people's deaths ceased in 2000 when parliament forbade the practice.
