10. Remembering the loss of HMS Lutine still reverberates at Lloyd’s – literally
During the French Revolutionary Wars, the economy of the Port of Hamburg was near collapse, a circumstance which would have disastrous implications for the markets in London. HMS Lutine, a frigate which had been captured by the Royal Navy, was dispatched to the port, laden with gold and silver bullion and coin, in an attempt by London merchants to shore up the stock market. Lutine was lost at sea in the treacherous shoals off the Netherlands, with the loss of all but one of her crew. The ship had been insured by Lloyd’s, which underwrote several expeditions to find its lost cargo, but little from Lutine ever returned to the light of day.
One item which did was the ship’s bell, which was retrieved from the wreck site in 1858. The bell was taken to Lloyd’s (which had paid the claim for the wreck in full) and hung in the company’s underwriting room, where it remains. Traditionally the bell is rung twice upon the receipt of good news, and once upon the receipt of bad news, as it did on September 11, 2001. In recent years it has also been rung to mark special occasions and as a processor to important announcements. Treasure hunters still search for the wreck of Lutine (which was rumored to be carrying the Dutch Royal Jewels), but as of this writing, its treasures have not been found.