Managing agents should be diverse and create an inclusive and high-performance culture.
In order to support this, managing agents should:
Principle 13: Culture
Demonstrate leadership focus on fostering an inclusive and high-performance culture at all levels
Foster inclusive behaviour, with zero tolerance for inappropriate behaviour
Foster psychological safety to encourage speaking up, access diverse perspectives and focus on continuous improvement
Ensure diverse representation within their workforce and leadership levels, reflecting society. Be inclusive in hiring and retention and contribute to the market being a destination of choice for talent
Understand their employee population, use data and insights to inform action to create an inclusive employee experience
Evolution of the Culture Principle
In July 2024 the Culture Principle was updated with new maturity levels defined that will apply to managing agents from 2025. A summary of the changes, the maturity matrix guidance and approach to implementation and transition is provided below, and a recording of a Market Briefing Session is available to view.
Download summary of revised Culture Principle
Watch a recording of July 2024 Market Briefing SessionCulture Maturity Matrix
The Maturity Matrix for Culture is available within the Principles and Maturity Matrix document, which can be found on our Principles for doing business at Lloyd’s page.
Access Principles and Maturity Matrix document