Page "Lloyd's of London" Paragraph 115

In the great Underwriting Room of Lloyd's stands the Lutine Bell, which was struck when the fate of a ship “ overdue ” at its destination port became known.

If the ship was safe, the bell would be rung twice ; if it had sunk, the bell would be rung once.

( This had the practical purpose of immediately stopping the sale or purchase of “ overdue ” reinsurance on that vessel.

) Now it is only rung for ceremonial purposes, such as the visit of a distinguished guest ( two rings ), or for the annual Remembrance Day service and anniversaries of major world events ( one ring ).