LONDON, October 6 (Hfrance. en) - British ships transported more than 3 million African slaves across the Atlantic Ocean. Lloyd 's of London insured many of these ships, the people chained under the bridge sometimes classifiedas "perishable goods", alongside cattle, by market insurers.
Lloyd 's involvement in the transatlantic slave trade is not not included in the permanent market exhibition in its modernist city tower, but that is about to change.
"L ' The legacy of slavery is racism. You cannot do what you need to do to make slavery work unless you view enslaved people as less than human, "said Nick Draper, a former JPMorgan banker who was founding director of the Center for the Study of the Legacies of British Slavery (LBS) at University College London
"We We did this on the basis of ethnicity, race and skin color. It is ingrained in British and European culture - this is what we are currently working on.
Along with other financial institutions in London, the insurance market has been forced to come to terms with its racist past following last year's Black Lives Matter protests.
Lloyd 's and the Bank of England have each hired a historian to explore his role in the slave trade and plan to publish the results there. 'next year.
The exhibits will highlight the fortunes invented a barbaric system and the role played by some of the city's most venerable greats for keep him afloat, including people such as John Julius Angerstein, known as "Lloyd 's " father.
The titan of 18th century industry was chairman of the market when much of its business was based on the slave trade and Lloyd 's says there is evidence to suggest he was a trustee of successions in the Caribbean n which held enslaved people.
His portrait hangs at Market HQ.
President Bruce Carnegie-Brown wants Lloyd 's to be candid about his past, but he doesn't want the paintings removed.
" I prefer to tell the story rather than cancel them ", he told Hfrance.fr.
The Afro-Caribbean Insurance Network (ACIN), set up to strengthen the representation of blacks and ethnic minorities in the London insurance market, disagrees. He said companies should look at "organizational artifacts and remove racist ones " in line with recommendations submitted to the London market last year.
ACIN co-founder Junior Garba, a Lloyd 's smuggler, said he was better offthe placing of objects in museums.
"We cannot ignore history. We can explain it, we can educate. "
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The roots of the slave trade run deep and wide in the famous institutions of London.
A ngerstein 's art collection, comprising works by Rubens, Raphael and Rembrandt, formed the core of the National Gallery in London when it was founded.
La The gallery makes no mention of Angerstein 's links to the slave trade on its website. poor black people, an organization with abolitionist interests.
In an email to Hfrance.fr, The National Gall ery said he was working with LBS to clarify the links between slave ownership, art collecting and philanthropy in Britain and will publish the first results later this year. Angerstein will be included in this study.
According to Draper's research, Angerstein was " a beneficiary of slavery in the marine insurance industry on which he based his career and fortune ". There is no evidence that 'he was a slave trader.
A decision on what to do with the portraits of Angerstein and of Lloyd's other important names will be realized after Victoria Lane, previously archivist at Shakespeare's Globe Theater, finishes her review.
Lane, who began to working at Lloyd 's last month, trawling through art, swords, silverware and documents held by the market. Lloyd ' s refused to make her available for an interview.
The Bank of England removed 10 portraits and busts of former governors and directors linked to the slave trade earlier this year and plans to explain their role in an exhibition at his museumnext year, a spokesperson said.
The statues of two politicians linked to the slave trade appear set to remain in Guildhall, the City of London ceremonial center, after an earlier decision to remove them.
The Financial District Municipal Authority will discuss a report this week which recommends preserving the monuments of twice Mayor William Beckford and merchant John Cass, both of whom made their fortunes through slavery, with "explanatory plaques or notices" placed next to them. learn more
The report states that over 2,000 responses to two consultations showed "low demand " for the removal of the statues.
The colonies onEuropean quarries in the West Indies were built using African slave labor in the 17th and 18th centuries and the City of London was the financial center of the transatlantic human trade.
Historians estimate that between one and two thirds of the UK marine insurance market was based on the slave trade in the 18th century, in particular, insuring ships returning to Europe with proceeds from the plantations.
Lloyd 's was one of the three main British maritime insurers of the 18th century. The other two, Royal Exchange and London Assurance, were then grouped into AXA insurers (AXAF.PA) and RSA.
AXA apologized for its association with the slave trade and said it was working to make its workplace more inclusivesif.
RSA has said that there are parts of its history that "do not reflect the values we hold today ", adding that the cabinet is committed to fighting injustice.
The legacy of the industry slavery persists, experts say.
Less than one in 10 senior positions in financial services are held by blacks, Asians or other ethnic minorities, according to a discussion paper released by UK regulators in July.
The Bank of England has set a target 18-20% of black, Asian and minority ethnic senior executives in February 2028, up from 8.2% in November 2020.
Lack of progress in the city's persification puts pressure on financial conduct authority to and he said in July thatSenior managers may need to be linked to hiring improvements.
ACIN recommends that insurance companies set targets for ethnic minority representation in management positions. levels.
Only 2% of the nearly 50,000 of the Lloyd 's of London insurance market are black. He "aims " that a third of all new recruits come from ethnic minorities.
"The legacy made part of the answer, "said Oliver Kent-Braham, co-founder of digital insurer Marshmallow.
" Importantly, it's about companies making sure they have truly unbiased interview processes that aren't heavily focused on junior levels ... making sure companies are hiring from everywhere.
Green Park Business Leaders Index 2021 Figure 2 Additional reporting by Bart Meijer in Amsterdam and Koh Gui Qing in New York; Edited by Carmel Crimmins
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