Lord Levene told of government disapproval of Burma links.
Pressure is mounting on Lloyd’s to quit Burma after the Foreign Office wrote to Lord Levene, the market’s chairman, last week to express disapproval of its links with the junta.
Levene has reportedly written to all managing agents “urging them to consider” their involvement with the Burmese regime.
Last month, XL and Chubb withdrew insurance operations from the country.
British American Tobacco and Premier Oil pulled out of Burma in 2003 and 2002 respectively, after requests from the government.
Earlier this month David Gittings, chief executive of the Lloyd’s Market Association, defended the actions of Lloyd’s in Burma. He said if the market were not breaching sanctions, he saw no reason to cease doing business.
Lloyd’s confirmed it had received a letter from the Foreign Office, but refused to comment on its contents. It also refused to comment on the contents of the letter sent to agents.
