Lloyd’s Of London responded to rapper T.I. who wrote an open letter to the company for its role in slavery. On Aug. 13, Lloyd’s Of London responded to T.I. in a statement.
“Businesses in the Lloyd’s market have operated for over 330 years, and there is much to be proud of in our long collective history. However, there are aspects of the market’s past about which we cannot feel pride and this includes the fact that insurers in the Lloyd’s market insured vessels that were involved in the eighteenth and nineteenth-century slave trade. As representatives of today’s Lloyd’s market, we are deeply sorry for this…We cannot, unfortunately, undo the past, but we would like to play an active role in trying to level the playing field for Black and Minority Ethnic people in today’s world. On 10 June we announced an initial action plan that focuses on education, research, and significant funding for charities and other organizations that promote opportunity and inclusion for Black and Minority Ethnic colleagues. There is much more to do and we will work with our Cultural Advisory Group to determine our longer-term plans. We will update our website as our plans develop,” the statement read.
In June, Lloyd’s of London issued an apology for participating in American slavery by providing insurance for slaves, who were viewed as cargo.
T.I. responded by calling for the British insurance firm, which has been in existence since 1688, to provide reparations to the descendants of slaves.
“Our people have been financially impaired and economically disabled due to the systemic oppression and institutional racism it leaves behind,” T.I. wrote in an open letter on Friday, July 17, 2020. “Your commitment to reparations is an honorable one, but commitment without tangible actions is merely lip service. We demand a specific call to action that includes, but is not limited to, direct reparations be made to the families who were ripped from their native lands and sold as property while your company profited from the whole shameful endeavor.”