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Article

28 Sep 2008

Author:
Nick Mathiason, Observer [UK]

Foreign Office warns Lloyd's over Burma [UK]

The Foreign Office has written to Lloyd's of London chairman Lord Levene to outline its disapproval that Lloyd's brokers are trading with the Burmese military dictatorship. The letter has forced Levene to write to the insurance market's managing agents last week 'urging them to consider' their involvement with the repressive regime…Lloyd's has historically been involved in Burma, despite international boycotts. Its syndicates reinsure the junta's aviation and shipping interests…Without Lloyd's, campaigners believe the repressive regime would be in economic turmoil.