Charles Gilbert, age 14, of Reno, Nov., for his question:

WHEN WAS LLOYD'S OF LONDON STARTED?

Lloyd's of London, more properly called Lloyd's, is an association of approximately 300 insurance syndicates, each of which comprises many individual underwriters. Lloyd's was incorporated in 1871 by an act of Parliament and at that time was restricted to marine insurance.

In the Lloyd's Act of 1911, Parliament extended the jurisdiction of the corporation to virtually ail forms of insurance other than long term life insurance.

Lloyd's as a corporation is not liable for the business transacted by individual underwriters. The organization has agents in every important world port.

Lloyd's also serves as a shipping information agency, publishing Lloyd's Lists, the oldest daily newspaper in London, and maintaining a Register of Shipping and a Register of American Yachts.

The name of the association is derived from that of an English coffeehouse keeper, Edward Lloyd, whose establishment pas a popular meeting place for shipowners, insurance men and merchants.