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Market oversight

Using our culture principles

The market oversight process, commonly referred to as RiO (Re-imagining oversight), is how Lloyd’s provides oversight for managing agents. 

For culture, the oversight process is based on our 5 culture principles. Each principle has a set of indicators, called sub-principles, which form part of the self-assessment process for firms. Firms self-assess and Lloyd’s uses data from the MP&P, Culture Survey and engagement with firms to form a view of performance against the 5 principles.

Our expectation of firms operating in the Lloyd’s market

Be diverse, and foster an inclusive and high-performance culture.

Number one graphic


Demonstrate leadership focus on fostering an inclusive, high-performance culture

Number two graphic


Ensure behavioural expectations are clear and there is zero tolerance for inappropriate behaviour

Number three graphic

Speaking up

Encourage speaking up, ensuring there are appropriate tools for employees to do so, and the tone is set from the top

Number four graphic


Ensure diverse representation within their workforce and their leadership population. Be inclusive in how they hire and retain talent and ensure they reflect society and their customers

Number five graphic


Understand their employee population, collect appropriate data and take action to create an inclusive employee experience

Lloyd’s Market Oversight Plan

Culture was introduced as a new area of oversight in 2022 and encompasses gender and ethnicity representation, leadership approach to promoting high performing culture, and a zero tolerance approach to inappropriate behaviour.

Find out more about how culture is one of the principles of market oversight.

Standards of business conduct at Lloyd’s

Ensuring the standards of business conduct are clearly understood by everyone.