Lloyd's develops council diversity policy

Move follows on from the release of market-wide targets

Lloyd's develops council diversity policy

Insurance News

By Terry Gangcuangco

As part of Lloyd’s of London’s work to drive cultural transformation across the market, it has now set a diversity policy for the Council of Lloyd’s, which is the Lloyd’s governing body with responsibility for the market’s overall management.

The move comes following the July release of market-wide gender targets, as well as the previously announced commitment to setting a similar ethnicity goal.

For the council, it has been agreed that a minimum of 33% of the body should be female and/or from a non-white background by the end of 2023.

The new policy means that at least two of the council’s six elected market representatives and two of the six independent nominated members should be female, and at least one council member will be from a non-white background.

“Lloyd’s success is integrally linked to the diversity of its people and the promotion of an inclusive culture,” said the insurance marketplace. “This applies to Lloyd’s governing bodies as much as it does to the corporation, as well as market firms.”

Meanwhile, it was highlighted that appointments will be made on merit by assessing candidates against measurable objective criteria.

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