“We are grateful to our Black and Ethnic Minority colleagues who have helped to shape our conversations and actions to ensure that we create an environment free from injustice for them and for all.”

Those were the words of insurance marketplace Lloyd’s of London when the centuries-old exchange announced initiatives designed to help improve the experience of the market’s Black and Ethnic Minority executives, who over the last week have expressed their frustrations.

To take meaningful and measurable action, Lloyd’s said it will be investing in positive programmes to attract, retain, and develop Black and Minority Ethnic talent in the Lloyd’s market. These include the modular programme ‘Accelerate’, which is aimed at developing Ethnic Minority future leaders.

Lloyd’s will also review its employee and partner policies and organizational artefacts to ensure that they are explicitly non-racist. In addition, the marketplace will educate colleagues and continue its research into the experiences of Black and Ethnic Minority professionals working in insurance.

The unveiled initiatives also span providing financial support to charities and organizations that promote opportunity and inclusion for Black and Ethnic Minority groups, as well as developing a long-term action plan.

According to Lloyd’s, building an inclusive culture is essential to the market’s future success and it is determined that it can and will create a culture in the Lloyd’s market in which everybody can flourish.