Activists force Lloyd’s to hold annual investor meeting online

LLOYD’S of London has been forced to move its shareholder meeting online after fears climate change protesters planned to disrupt the event sparked concerns for staff safety.

The 336-year-old insurance market has told its members not to attend its annual general meeting next Thursday, in person as executives have become “aware of the potential for disruption … by climate activists”.

In a letter to members on May 10, chairman Bruce Carnegie-brown said: “Since that invitation was distributed, we have been advised that the risk of disruption has significantly increased.

“To ensure the safety and security of our members and to allow the meeting to proceed in an orderly and fair manner, it is with regret that I must now strongly encourage all members attending the AGM to join virtually and not to attempt to enter the Lloyd’s Building on that day.”

Extinction Rebellion claimed yesterday it had no plans to disrupt the meeting. A spokesman said: “We are committed to non-violently disrupting business as usual until Lloyd’s of London ends its underwriting of fossil fuels.

“Instead of trying to hide from public anger, by shifting their AGM online, Lloyd’s needs to be brave, take bold action and stop insuring morally hazardous projects.”

Moving the meeting online comes a month after a group of 60 Extinction Rebellion activists forced Lloyd’s to close its London headquarters by chaining and glueing themselves to its doors.

Climate activists accuse Lloyd’s of insuring “some of the world’s worst fossil fuel projects”, including coal mines, tar sands pipelines, and new oil and gas exploration. Under a climate plan released in December 2020, Lloyd’s pledged to phase out existing investment in companies which derive 30pc or more of their revenues from these sectors by the end of 2025.

The AGM was originally intended to have been held at the Old Library at Lloyd’s at One Lime Street, London.