The pipeline of women ready for senior underwriting roles at Lloyd’s is growing, but that isn’t yet translating into more women in the top jobs, according to research from the Lloyd’s Market Association (LMA).
Lloyd’s market data for 2026 shows the underwriting population rose from 7,659 to 8,580, and the proportion of women identified as ready now for senior leadership roles rose from 15% to 25%. But the proportion of women in chief underwriting officer and lead underwriter roles slipped from 18% to 17%.
“The real challenge is converting the stronger pipeline of female underwriters into more women reaching the most senior underwriting leadership positions,” said Sheila Cameron (pictured), chief executive of the LMA.
The LMA’s survey, conducted ahead of its second Underwriting Talent Summit, found sponsorship from senior leaders was seen as the most important factor in progression. Sixty seven per cent (67%) of women said it most distinguishes those who reach active underwriter or chief underwriting officer roles, compared with 24% of men.
Matthew Bellamy, underwriting director at the LMA, said progression to the top roles depends on more than technical ability, and that future leaders need access to influential networks and senior advocates.
The survey found men and women see the barriers very differently. Some 52% of men said they did not believe there were significant barriers to progression in their organisations, compared with just 22% of women. And 80% of men were very or extremely confident that men and women have equal opportunities to progress, while 60% of women said they were only somewhat confident.
Cameron said the gap mattered, because organisations need to understand where high-potential people are missing out on opportunities, visibility or support.
The survey also found signs of progress since the first summit, including more transparent career conversations, better parental leave policies and stronger support networks for working parents.
The research also raises concern about technology. Fifty two per cent (52%) of respondents believe the skills needed by future underwriting leaders will change significantly, and 33% think some groups may have less access to the experience needed to succeed in an AI-enabled market. Bellamy said firms would need to manage that transition carefully so that technological change broadens opportunity for everyone.
The findings add to this month’s focus on talent in the London market. The LMA and the International Underwriting Association recently launched online job simulations to attract students into underwriting. Research from Burns & Wilcox found 92% of London brokers expect more women to enter the profession over the next five years. At the Chartered Insurance Institute, Debbie Mitchell and Mandy Hunt are set to become its first consecutive female presidents.
The findings will be discussed at the LMA’s Underwriting Talent Summit on 12 November.
For managing agents and Lloyd’s businesses, the message is that the pipeline is no longer the main constraint. Sponsorship, visibility and access to leadership experience are. Firms that want more women in senior underwriting roles will need to look at how high-potential underwriters are chosen for major portfolios, client relationships and leadership exposure.
The AI finding is also a warning. If new technology changes the experience future leaders need, firms should make sure access to that experience is shared fairly, rather than becoming a new barrier.
