From 1640 to the early 19th century, an estimated 3.2 million enslaved African people were transported by Britain’s vast shipping industry. Lloyd’s was the global centre for insuring that industry.
We are deeply sorry for the Lloyd’s market’s participation in the transatlantic slave trade. It is part of our shared history that caused enormous suffering and continues to have a negative impact on Black and ethnically diverse communities today.
In 2020, Lloyd’s apologised for its historical links to the transatlantic slave trade. We have since undertaken several pieces of research to understand and contextualise our history, and to make an honest account of our past a part of the story we tell at Lloyd’s.
This has included:
From this research, it’s clear the Lloyd’s market benefitted significantly from the trafficking of enslaved people and the goods they produced through the transatlantic slave trade.
The individuals operating in the Lloyd’s market were deeply embedded in the structures, networks and activities of the time. Many used their expertise and influence to develop and defend the systems that made slavery possible.
We know we can’t undo the wrongs of the past – however, we can take action to address the impacts still seen today, such as the racial inequality still prevalent in societies around the world.
We remain deeply sorry for this period of our history and the enormous suffering caused to Black and ethnically diverse people, both then and now.
As we further examine Lloyd’s connections to slavery, we will continue to make our findings public, and will ensure that an honest account of our role in the slave trade is a part of the story we tell about Lloyd’s.
We also recognise that the legacy of slavery continues, evident in the racial inequality that persists to this day.
In November 2023, we launched Inclusive Futures: a programme of initiatives to respond to the legacy of slavery by helping Black and ethnically diverse individuals progress from the classroom to the boardroom.
Lloyd’s Corporate Archive is freely accessible to the public. The catalogue of our Corporate Archive is available at the London Archives. Most of the collection dates from 1771, with some deeds dating back to 1585. Please note that the Captains’ Registers are held at the London Archives and the rest of the archive is available at the Guildhall Library.
Our history has been shaped by many people over the centuries. We highlight a few of the most significant characters, including founder and coffee shop owner Edward Lloyd, and the pioneering Cuthbert Heath.
It’s only when a claim arises that the true quality of any insurer is properly tested; and time and time again, Lloyd’s has risen to challenges of the most extreme kind.
Today, Lloyd's is based in an award-winning building in Lime Street, London. But the insurance market has been housed in a number of different buildings during its 330-year history.
Explore the Inclusive Futures programme
Back to our history