by René Lavanchy
INSURANCE giant Lloyd’s of London has come under pressure from the Government to stop doing business with Burma, it emerged this week. The Foreign Office has written to the market reminding them they are breaching government guidelines by writing insurance for the state-controlled companies.
Campaigners hope the letter could force Lloyd’s to cut its links with Burma, whose dictators they say rely on foreign insurance.
Lloyd’s chairman Lord Levene has responded by writing to the market’s managers, although they refuse to discuss the contents of the letter. The Observer reported Mr Levene as “urging them to consider” their business with Burma.
Pressure group the Burma Campaign welcomed the announcement. Campaigns officer Johnny Chatterton said: “Lloyds have resisted pressure from us for years. Now they’re out of step with the rest of the industry. There’s a number of insurance giants who won’t finance business in Burma. It’s very significant.”
Foreign Office pressure has previously caused firms such as British American Tobacco to stop trading with Burma. Lloyd’s declined to comment.
