Women in Finance Charter
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 positions across the financial services sector.
As part of our commitment to the Charter we set a target to achieve at least 40% male and at least 40% female representation in our senior management population by 2021.
These goals are built into the annual objectives of the Executive Team and cascaded to our senior management population which in turn are built into our performance management and reward system.
To proactively support gender diversity, Peter Spires, General Counsel & Company Secretary was appointed as the Executive Team Sponsor, responsible and accountable for gender diversity and inclusion within the Corporation. Peter is also the Executive Sponsor of “Inspire” – the Lloyd’s Gender Balance Network.
We see our commitment to the Charter as a journey, one which requires early interventions that have immediate impact as well as longer term investment into our pipeline. Since signing the Charter there has been change in the proportion of women in our senior management population, in 2019 we saw an increase of 1.6% on the previous year.
We are confident that the steps we continue to take, such as rolling out unconscious bias awareness learning and supporting resources for senior leaders, signing up to the Working Forward campaign to supporting new parents, which has led to the recent introduction of gender neutral, parental policies in the UK. The introduction of the Market-Wide female development programme, Advance and implanting mandatory inclusive hiring workshops for all hiring managers, will in turn support progress towards our target.
Although these goals and actions refer specifically to gender, we put great emphasis on valuing all forms of diversity, more details of which can be found here on our website.