Lloyd’s of London does not plan to offer direct financial compensation for its role in the slave trade, according to people familiar with the matter, rebuffing growing calls for UK institutions to pay reparations to victims’ descendants.
The insurance marketplace, like the Church of England, is among the UK institutions under most pressure to account for historic links to slavery.
Lloyd’s, which dates back to a 17th-century London coffee shop, apologised three years ago for its role in the trade, whereby insurance offered in the market underpinned the trade of enslaved people, who were underwritten as part of a ship’s cargo.
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