Government letter expresses disapproval over marketplace's links with Burmese regime
Pressure is mounting on Lloyd’s following a Foreign Office letter expressing disapproval of the marketplace’s links with the Burmese junta.
Lloyd’s chairman, Lord Levene, has reportedly written to all managing agents last week “urging them to consider” their involvement with the Burmese regime.
Last month, XL withdrew insurance operations from the country.
British American Tobacco and Premier Oil pulled out of Burma in 2003 and 2002 respectively following similar requests from the government and Foreign Office.
Johnny Chatterton, campaigns officer at the Burma Campaign UK, said: “Lloyd’s are breaking government guidelines and damaging their reputation. If they don’t end their involvement in Burma soon they will be branded by Burma in the same way that Barclays was with Apartheid South Africa and Exxon are with climate change.”
He added: “We warmly welcome the government’s firm stand against Lloyd’s, they should continue their leading role by pushing for targeted EU sanctions banning the provision of insurance services to Burma.”
Lloyd's confirmed it had received a letter from the Foreign Office but refused to comment on its content. Lloyd's also refused to comment on the letter sent out to the marketplace.