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CEO Statement

Full statement from John Neal, Lloyd's CEO, on Lloyd's gender pay gap report

Tackling the gender pay gap is essential to the success of the Lloyd’s market, today and in the future.

We want to attract the best and brightest talent to our market, so we can deliver maximum value to our stakeholders and better reflect the diversity of our customer base. However, we will only do this if we make the market a fair and equitable place for everyone to work within. Closing the gender pay gap is, therefore, not only the right thing to do, it is the smart thing to do. As the leading specialist insurance and reinsurance market in the world, Lloyd’s has a unique opportunity to show leadership and drive change. Lloyd’s 2019 Gender Pay Gap report is an essential benchmark of our progress in this regard. It shows we have carried out the actions we promised to take throughout the year, including increasing the number of senior women working for the Corporation globally by 9.3%. However, it also shows we have more work to do to close the gender pay gap, which has seen a slight increase compared to 2018.

This is to be expected. We were aware when we started on this journey we were not going to change things overnight. This is a long-term strategy that will deliver results over the next few years, so it is important we maintain our focus over a sustained period. This is the reason we are launching our first ever gender balance plan in 2020 that will set clear and measurable targets for improving the representation of women at senior levels within the Lloyd’s market. I look forward to continuing to build on the progress we made last year.

John Neal, CEO Lloyd’s