Lloyd’s of London announces new diversity programme addressing historical slave trade ties

Lloyd’s of London has announced a new programme to help black and ethnically diverse individuals progress in their careers after research found the marketplace played a role in the transatlantic slave trade.

In a statement today (8 November 2023), Lloyd’s said the initiative, which is called Inclusive Futures, would help individuals go from “the classroom to the boardroom” through a series of active interventions.

The marketplace said it had created this in response to research conducted by Black Beyond Data, which explored its historical links to the transatlantic slave trade.

Lloyd’s said the research made it clear that it ”played a significant role in enabling the transatlantic slave trade and economy, forming part of a sophisticated network of financial interests and activities that made these activities possible”.

The research was independently funded by the Mellon Foundation and Lloyd’s held no editorial control over the findings.

Bruce Carnegie-Brown, chairman of Lloyd’s, said: “We’re deeply sorry for this period of our history and the enormous suffering caused to individuals and communities both then and today.

”We’re resolved to take action by addressing the inequalities still seen and experienced by black and ethnically diverse individuals, which is why we’ve launched Inclusive Futures, a comprehensive programme of initiatives to help these individuals and communities progress from the classroom to the boardroom.”

The programme

Inclusive Futures was shaped in consultation with black experts and ethnically diverse colleagues across the Lloyd’s market.

It will include a series of workshops covering Lloyd’s recruitment, research, investments and charitable giving.

In turn, Lloyd’s hopes the programme will ”deliver meaningful, sustainable change in building a more inclusive marketplace and society”.

Mark Lomas, head of culture at Lloyd’s, said: “We know we can’t undo the past, but we can do something about the inequalities we see today.

”Our programme is a starting point, and the proof will be in its impact – but we believe these interventions will make lasting, sustainable change in how the Lloyd’s market looks and feels for generations to come.”