Lloyd’s has rung the historic Lutine Bell in honour of Queen Elizabeth II, who has died at the age of 96 after becoming Britain’s longest-reigning monarch.

“We often talk about Lloyd’s rich history and proud moments, forgetting for just how many of those Her Majesty was either present or reigning,” Chairman Bruce Carnegie-Brown said.

“We were lucky to call her a friend and regular visitor to Lloyd’s and I am sure every one of us will cherish the memories we had together.”

Mr Carnegie-Brown said the Queen had been a shining role model and that the world was united not just in grief and respect, but in love, admiration and indebtedness.

“Our thoughts and prayers will remain with the Royal family as they mourn, and we will now ring the Lutine Bell in Honour of Her Majesty Queen Elizabeth II,” he said during a ceremony.

Two minutes silence was observed after the bell was struck once.

The Lutine Bell, which sits in the Underwriting Room atrium, is used to mark a range of significant occasions. It was rung when Lloyd’s closed the underwriting room due to covid and in celebration following the 2013 birth of Prince George, the first child of the Duke and Duchess of Cambridge, among other events.

The bell was salvaged from the wreck of the Lutine in 1858 after the vessel sank in 1799. Traditionally it was sounded to alert brokers and underwriters to news regarding an overdue ship, with one strike representing bad news with the loss of a vessel, and two for a safe arrival.

Queen Elizabeth II laid the foundation stone for Lloyd’s previous Lime St building in 1952, months after her accession to the throne and in 1986 officially opened the current One Lime St building.

The Queen in 2014 visited the Underwriting Room to unveil a plaque commemorating the market’s 325th anniversary, with the bell rung twice to mark the occasion.

Condolences on the death of Queen Elizabeth II have also been expressed by organisations including the London Market Group, Association of British Insurers and the British Insurance Brokers Association (BIBA).

“We are deeply saddened by the news that Her Majesty the Queen has passed away this afternoon,” BIBA said. “Our thoughts are with the royal family at this sad time as we join our friends and colleagues in national mourning.”