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Lloyd’s hits target on women in top jobs

The proportion of women in leadership roles at Lloyd’s has increased to 35%, meeting a target set in 2020 thanks to improvements across boards and executive committees. 

The fifth annual Market Policies and Practices survey shows more businesses adopting inclusivity, lifted by accountability against measurable culture targets, Lloyd’s says. 

Chief People Officer Sara Gomez says steps such as an upskilling program are working.  

“We still have a way to go on our culture journey,” she said. “We will continue to support the market so Lloyd’s is a destination of choice for global talent, and attracts the best and brightest minds.” 

The latest survey findings, from 55 managing agents and 13 brokers with 57,000 employees, show women account for 43% of the workforce, and 46% of new hires last year were women. 

There were improvements at all leadership levels, with women making up 25% of boards, 28% of executive committees and 36% of their direct reports. 

Lloyd’s says its outreach activities aim to attract talent in areas such as underwriting, where under-representation remains. 

Other diversity data has also improved, including on disability, ethnicity, sexual orientation and social mobility.  

The survey found 2% of employees disclosed a disability or health problem, while another 2% disclosed they are LGBTQ+. Both figures have been consistent for three years.  

Lloyd’s “one in three” hiring ambition shows progress, with 21% of new hires in the past year from an ethnically diverse background, along with 27% of graduates and apprentices. Representation of this group in the market is now 13%. 

Ethnic minority representation in leadership positions was steady at 9%, and Lloyd’s says developing a diverse talent pipeline for board roles is an area of focus.

The proportion of market employees aged under 30 has increased to 24%, while 51% are under 40 and 71% of businesses are adopting inclusive hiring practices to remove bias. There has been a marked increase in menopause support and drugs and alcohol policies.  

Lloyd’s is made up of more than 50 leading insurance companies, more than 380 registered brokers and a global network of more than 4000 local coverholders.