Lloyd’s has published the results from its fifth Market Policies and Practices (MP&P) return and has announced the accomplishment of its immediate goal, with women now occupying 35% of leadership positions.
This year’s market return showed progress on its diversity targets including women in leadership and ethnically diverse hiring:
- The proportion of women in leadership roles has increased +3 percentage points (pp) to 35%, with improvements across all three levels (Boards, Executive Committees and direct reports of Executive Committees), meeting the short term target set in 2020
- 21% of new hires in the last year came from an ethnically diverse background, an increase of +4pp. Representation of this group in the market increased by +2pp to 13%
- 71% of firms are currently working with partners to undertake outreach activity, +12pp, and are adopting inclusive hiring practices to remove bias in recruitment processes. There has been an increase in wider inclusivity policies and practices such as menopause support (54% of firms, +23pp) and drugs and alcohol policies (97% of firms, +13pp)
- The collection of diversity data collection has shown improvement – including ethnicity (+6pp), disability (+6pp), sexual orientation (+15pp) and social mobility (+16pp)
Whilst we’ve hit our short term target for 35% of leadership positions to be filled by women, and the market continues to make progress on representation of diverse groups, we still have a way to go on our culture journey. We will continue to support the market so that Lloyd’s is a destination of choice for global talent, and attracts the best and brightest minds, wherever they come from.
…Sara Gomez, Lloyd’s Chief People Officer
