[1] It is said that the island was named after a pirate who bought it or leased it at some point during the early 18th century,[2] although supporting evidence for this contention is difficult to find.

In August 1750, a Spanish treasure galleon named Nuestra Señora de Guadalupe sought shelter from a storm on the North Carolina coast.

The crew mutinied and the treasure, said to consist of (amongst other things) 55 chests of silver coins, was loaded into two bilanders, one of which was carrying Owen Lloyd.

Part of the booty was later recovered by Gilbert Fleming, Lieutenant-General of the Leeward Islands at the time, who travelled to Tortola with two companies of soldiers.

The story cannot be verified as no legal application for treasure trove was ever made,[4] but it is known that members of the family ceased being fisherman and left Tortola at about the time to open some shops in Charlotte Amalie in St. Thomas.

Norman Island is a well-known destination for cruisers and other tourists because of three water-level caves at the base of cliffs just outside the western edge of the Bight.