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Lloyd's awarded highest badge of honour for military employers by Ministry of Defence

15 Nov 2023

Lloyd’s, the world’s leading marketplace for insurance and reinsurance, has been re-awarded its Gold Award status as a military employer by the Ministry of Defence Employer Recognition Scheme. The Gold Award is the highest badge of honour a company can achieve, and recognises the positive role that employers play in supporting the Armed Forces community.

Lloyd’s will retain Gold Award status for the next five years, having originally received the accolade in 2018.  Lloyd’s was also recently named in the 100 GREAT British Employers of Veterans, showcasing leading Forces Friendly employers in the UK.

“Lloyd’s has a long and proud history of working with and supporting the military. Since 2014, the Lloyd’s Military Network has supported over 1000 ex-military personnel and service leavers in finding new careers in the industry. Those transiting from the military bring a wealth of transferable skills and provide excellent examples of leadership and new ways of thinking – benefitting the London market and beyond.”
John Neal, Lloyd’s CEO

What does Gold Award status mean?

To win a Gold Award from the Ministry of Defence organisations must have supportive HR policies in place for reservists, veterans, Cadet Force adult volunteers and the spouses and partners of those serving in the Armed Forces. Gold Award status employers must also advocate the benefits of supporting those within the Armed Forces community, by encouraging other organisations to sign the Armed Forces Covenant and engage with the Employer Recognition Scheme.

How to get involved?

Lloyd’s holds two military insight days each calendar year, aimed at those transiting from the military, to explain what insurance is, the types of roles available and provide a valuable networking opportunity. The insight days feed into the biannual Lloyd’s Military Placement Scheme, which receives a notable uptick in applications for each new intake.

You can hear from veterans who have participated in the Lloyd’s military placement scheme sharing their experience of the programme alongside some of our success stories.

Lloyd’s Military Placement Scheme

The biannual military placement scheme runs across the market and is designed to de-risk the transition into the insurance industry and advocate the values of veterans to prospective employers, while also providing invaluable upskilling and networking opportunities.

Each year, an average of ten to fifteen veterans take up permanent roles either within the Corporation or the wider insurance market on successful completion of the placement scheme.