9. Lloyd’s created the Patriotic Fund in 1803
In 1803 Lloyd’s created the Lloyd’s Patriotic Fund, a military charity, which remains in operation today, the oldest such organization in the world. During the Napoleonic Wars, the Patriotic Fund awarded officers of the Royal Navy and the Marines with swords, valued at £30, £50 or £100, for services in which they had won distinction by exhibiting extraordinary ability and/or bravery. It also awarded grants in cash to wounded veterans of military service, and annuities to care for the families of soldiers killed in battle, or wounded to the point of disability.
The Patriotic Fund helped create homes for retired or disabled sailors, from both the Royal Navy and the East India Company, asylums for their children and orphans, and permanent homes for their children. It was an unusual and innovative approach in the days when nearly all charity was in the hands of the churches and religious societies, or the workhouses and poorhouses. The Patriotic Fund survived into the 21st century, where it works with other charities and veteran’s organizations to identify those in need and assist them with obtaining services.