In 2016 Lloyd’s became a charter signatory of the Women in Finance Charter, a government backed initiative designed to improve gender diversity in senior management across the financial services sector.
Women in Finance Charter – 2021 update
Lloyd’s has surpassed its previous target of at least 40% women and 40% men in senior management by 2021. As at 30 June 2021, Lloyd’s had 43% women in leadership.
To align with the cultural change we are driving across the Lloyd’s market, we are holding ourselves to the same standard we expect of the wider market, which is a long term goal of gender parity by 2030, whilst ensuring we remain above the short term market target of 35% women in leadership by end of 2023.
Lloyd’s is committed to gender parity, and in 2020 we joined a global community of organisations committed to giving equal opportunities to men and women in the workplace who together share the use of the EDGE global assessment methodology and business certification standard for gender equality.
EDGE is distinguished by its rigor and focus on business impact, assessing gender representation, pay equity, effectiveness of policies and practices and inclusiveness of the culture. In 2021 we completed the Edge certification process and were certified as EDGE move.
We have identified improvements we are making to enhance our talent attraction and development practices to be more inclusive and support gender balance. In addition Advance, our Market-Wide female development programme continues, now launching its 7th cohort, which is supporting women to progress their careers in the Lloyd’s market.
We also have policies and processes in place to support gender balance.
We extended our market-leading family care policies in January 2020 to cover all our colleagues, globally. These policies are designed to provide employees with the support they need to enjoy happy and healthy working and home lives, whatever that looks like for them. This family care provision provides 26 weeks paid leave for primary or secondary care givers when you start a family, with an additional four weeks full pay to support a phased return to work. It is not gender-specific and applies regardless of how you want to start a family.
Other care policies applicable globally include emergency leave for any unforeseen challenges employees may face; sabbaticals with one month paid leave once you’ve worked for Lloyd’s for more than five years; an online parental leave toolkit to support expecting and adopting parents and their line managers throughout the parental leave transition plus flexible day-to-day working practices.
We continue to support our gender-inclusive employee resource group (Inspire), providing greater access to senior leaders and a platform for colleagues to share ideas and network at all levels across the Corporation. Across the sector we continue to sponsor the Gender Inclusion Network for Insurance and the Balance programme, bringing together leaders to share best practice on gender balance and to help them become advocates for gender parity.
We also collect diversity data to understand our areas of progress and areas of improvement.
We are committed to creating a truly inclusive environment and enable our colleagues to develop and thrive at each stage of their career.