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In 2020, Lloyd’s set a target for the market to reach 35% of women in leadership positions by December 2023 as part of a wider culture improvement programme.
WIth latest data showing the market reaching 32% women in leadership as of 31 December 2022, a +2pp increase from the previous year, it looks like positive change is happening.
What is most interesting is the companies have already achieved the 35% target and how this correlates with brand overall. Of the 17 brands that have achieved the Lloyd’s target already, Liberty, Axa XL, Beazley and Hiscox sit inside the top 10 brands as ranked in our Insurindex Top 20
Data from the Gracechurch Employer Brand research shows that the Culture of a potential employer is a major factor in where people decide to work, and culture or values is also an essential aspect of a successful brand. So, recognition for public progress on diversity is very positive for individual businesses in terms of helping them to attract top talent which gives them competitive edge.
For brands who are committed to building their reputation as employers of choice in the London Specialty market, achieving gender balance as part of a DNI strategy is a critical success factor in the development of employer brand and has a clear impact on the brand overall.
Ben Bolton says: “We can see that leading brands, who have the lions share of the employees, are setting the pace and living up to their brand values, which is healthy. I feel this could be the start of an accelerating market change because it is being led out by the largest brands in turn building much needed trust in the London Market as a modern diverse and inclusive environment in which to work.”
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