The Lloyd's of London insurance market has apologised for its 'shameful' role in the 18th and 19th Century Atlantic slave trade and has agreed to fund charities and organisations promoting opportunities for black and ethnic minority groups.
LONDON - The Lloyd’s of London insurance market has apologised for its “shameful” role in the 18th and 19th Century Atlantic slave trade and has agreed to fund charities and organisations promoting opportunities for black and ethnic minority groups.
“We are sorry for the role played by the Lloyd’s market in the 18th and 19th Century slave trade - an appalling and shameful period of English history, as well as our own,” Lloyd’s said. Lloyd’s grew to dominate the shipping insurance market, a key element of Europe’s global scramble for empire, treasure and slaves, who were generally in the 18th Century included in insurance policies in the general rate for ship cargo.
Those who survived endured a life of subjugation on sugar, tobacco and cotton plantations. Britain abolished the trans-Atlantic slave trade in 1807 although the full abolition of slavery did not follow for another generation.
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