"Representation of women and ethnic minorities (is) improving across our market – but we can’t be complacent."
- John Neal, Lloyd’s of London chief executive
After coming under fire for delaying ethnic diversity targets last year, Lloyd’s of London has been focused on fixing the current culture of a market where non-white colleagues don’t feel as supported as their peers.
Commenting at the time, Bruce Carnegie-Brown (Lloyd’s chair) said that they were “reasonably confident” that Lloyd’s could get to setting ethnic diversity targets in 2022.
In a recent survey, Lloyd’s revealed that 26% of those surveyed (18 firms) have met or exceeded the commercial insurance market’s target for 35% of leaders to be women, though progress on diversity was “incremental”, Lloyd’s said in a report on Monday (25/07/22).
Lloyd’s has also noted that whilst more than half of companies (63%) increased the proportion of women in leadership, the average gender pay gap across Lloyd’s market firms remains high at 37%.
John Neal, Lloyd’s of London chief executive has said:
“Representation of women and ethnic minorities (is) improving across our market, but we can’t be complacent. We need to keep that momentum going, and address any areas of weakness, to maintain Lloyd’s unique ability to attract, connect and grow the best talent in our industry.”
In the past, the London-based market has admitted to issues with sexual harassment and day drinking. Consequently, implementation of alcohol and drug policies was among areas for further improvement, according to Lloyd’s.
