Beautiful Virgin Islands

Sunday, Jul 06, 2025

Two top UK companies, including insurance giant Lloyd’s of London, to cough up reparations for slave trade

Two top UK companies, including insurance giant Lloyd’s of London, to cough up reparations for slave trade

Nine large businesses in the UK benefited from government compensation paid to slave owners when the trade in human beings was prohibited. Two of them have agreed to pay reparations since their history was exposed.
Pub chain Greene King and insurance marketplace Lloyd’s of London, which are among the largest players in their respective industries, have pledged to pay large sums of money to black, Asian and minority ethnic (BAME) communities. The decision comes after their historic ties to the slave trade were brought to public attention by an academic database.

The pair are among nine large businesses in Britain, which can trace part of their capital to slave ownership, according to a database compiled by University College London (UCL). In all nine cases, some of the firms’ wealth originates from compensation paid by the British government to Britons who had to surrender ownership of slaves after the practice was outlawed in 1833. The database lists some 47,000 people. The connection with modern firms was first reported by the Telegraph newspaper.

Greene King founder, Benjamin Greene, received nearly £500,000 ($625,000) in today’s money as compensation for three plantations in the West Indies, according to the database. Slave owner compensation was also paid to Simon Fraser, a founding subscriber of Lloyd’s, who received nearly £400,000 ($500,000) in today’s money to surrender an estate in Dominica.

“It is inexcusable that one of our founders profited from slavery and argued against its abolition in the 1800s,” Greene King Chief Executive Nick Mackenzie told the newspaper.

He pledged to make a “substantial investment to benefit the BAME community and support our race diversity.”

A Lloyd’s spokesman also apologized for the role the company played in the 18th and 19th century slave trade, calling it “an appalling and shameful period of English history, as well as our own.” The firm pledged financial backing “to charities and organizations promoting opportunity and inclusion for black and minority ethnic groups.”

Other companies on the list include RSA Insurance, the shipping company P&O, and financial giants Royal Bank of Scotland (RBS), Danske Bank, Lloyds Banking Group, Barclays, and HSBC. RBS hinted that it may join Greene King and Lloyd’s in making donations to BAME causes.

The news comes amid a heated debate in Britain over its colonial past and involvement in the transatlantic slave trade, which was sparked by mass protests against racism and police brutality in the United States.

The wave of public outrage was unleashed by the on-camera killing of a black man, George Floyd, during an arrest by white police officers.

Following similar examples in the US, the wave of protests in the UK invigorated calls to re-examine the country’s history and dispose of monuments to people who the protesters deem too controversial to be honored in this way today. Among the targeted historical figures are slave trader Edward Colston, Prime Minister Winston Churchill, Queen Victoria, and King Robert the Bruce of Scotland. However, some of the rage seemingly missed the point as there have been also calls to get rid of the statue of Earl Grey, a former prime minister who actually oversaw the abolition of slavery.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
London Stock Exchange Faces Historic Low in Initial Public Offerings
A new online platform has emerged in the United Kingdom, specifically targeting Muslim men seeking virgin brides
Trump Celebrates Independence Day with B-2 Flyover and Signs Controversial Legislation
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
China’s Central Bank Consults European Peers on Low-Rate Strategies
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Musk Battles to Protect Tesla Amid Trump Policy Threats
Air France-KLM Acquires Majority Stake in Scandinavian Airlines
UK Educators Sound Alarm on Declining Child Literacy
Shein Fined €40 Million in France Over Misleading Discounts
Brazil’s Lula Visits Kirchner During Argentina House Arrest
Trump Scores Legislative Win as House Passes Tax Reform Bill
Keir Starmer Faces Criticism After Rocky First Year in Power
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
Poland Implements Border Checks Amid Growing Migration Tensions
Political Dispute Escalates Between Trump and Musk
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
US Senate Votes to Remove AI Regulation Moratorium from Domestic Policy Bill
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
Jury Deliberations in Diddy Trial Yield Partial Verdict in Serious Criminal Charges
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
King Charles Plans Significant Role for Prince Harry in Coronation
Two Chinese Nationals Arrested for Espionage Activities Against U.S. Navy
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
×