Greene King pub chain and Lloyd's of London apologise for slavery links

Two of Britain’s largest companies have apologised for their role in the slave trade.

Insurance giant Lloyd’s of London and pub chain Greene King said they will devote large sums to projects assisting minorities, after they were named in a database of companies connected to slavery compiled by University College London.

The list is a sign of how Britain’s past involvement with the slave trade - which has led to the tearing down of statues - has begun to impact on the corporate sector.

Greene King was founded in 1799 by Benjamin Greene, who became one of 47,000 people who benefited from compensation paid to slave owners when slavery was abolished in the British Empire in 1833.

Greene surrendered rights to three plantations in the West Indies in return for what amounts to £500,000 in today’s money.

While Greene King’s past connections to slavery are not mentioned on the company’s website, chief executive Nick Mackenzie told the Daily Telegraph the company would update its site on Thursday, while he also offered an apology for that chapter of the pub chain’s history.

“It is inexcusable that one of our founders profited from slavery and argued against its abolition in the 1800s,” he told the paper.