Transforming Lloyd’s culture is a strategic imperative for the future success of our marketplace – one which is powered by the intellect of its people, who together create our shared culture and our shared future. To get there, we need to be brave in our actions to accelerate change and be transparent in how we measure our progress and hold ourselves to account.

In 2019, we launched a comprehensive programme of actions to drive long-term culture change in the Lloyd’s market. These included forming the Lloyd’s Culture Advisory Group and launching a Speaking Up campaign, as well as setting business conduct standards that we expect everyone who works in Lloyd’s market to adhere to. We have now fulfilled all of our 2019 commitments by setting gender targets and launching the Lloyd’s Culture Dashboard - this benchmarks the market’s starting point and is intended to transparently track Lloyd’s collective progress towards a much more inclusive environment. These form the foundation of our ongoing initiatives and commitment to build a more inclusive environment.

Lloyd’s is equally committed to improving the experience of Black and Minority Ethnic talent in our market, by taking meaningful and measurable action to level the playing field and increasing the representation of Black and Minority Ethnic colleagues, particularly across leadership roles. To support this, Lloyd’s is focusing on improving the collection of ethnicity data and other characteristics to enable it to fully understand its starting point and set a market target for ethnicity in Q2 2021. This follows Lloyd’s five initial actions to help improve the experience of Black and Minority Ethnic talent across the market, published on 10 June.

While we have put in place a series of actions to accelerate change, it is abundantly clear that we have much work to do and we must be impatient in our resolve to get there. The Lloyd’s Corporation will continue to do more in leading the market on all aspects of inclusion and diversity.