As Lloyd’s unveiled half –year profits of $1.76bn, the Burma Campaign UK today called on the company to come clean on how much of its profits are made from its involvement in military ruled Burma.
Despite repeated requests for Lloyd’s to reveal the full extent of its involvement in Burma, Lloyd’s refuses to do so. It has also refused to call on member companies to end their involvement in Burma. Lloyd’s has also failed to meet with the Burma Campaign UK to discuss the issue.
Research has revealed that three members of the Lloyd’s market, Catlin, Atrium (owned by Ariel Re) and Kiln (owned by Tokio Marine), are involved in Burma. Despite repeated requests Lloyd’s has refused to state how many other member companies are also involved.
Burma’s democracy movement has called for targeted economic sanctions against the military regime in Burma. The regime has used foreign trade and investment to double the size of the army in order to maintain its grip on power.
“Lloyd’s secret Burma profits are paid for in blood and poverty by the people of BurmaҔ said Johnny Chatterton, Campaigns Officer at Burma Campaign UK. “Lloyd’s should come clean about their involvement in Burma, and stop insuring companies that fund the dictatorship.”
For more information contact Johnny Chatterton on 020 7324 4714