Prime Highlight
- Lloyd’s Market Association and Lloyd’s of London convened their first Underwriting Talent Summit to accelerate gender diversity in underwriting leadership.
- Industry leaders emphasized the need for decisive action as women remain significantly underrepresented in senior underwriting roles despite broader industry progress.
Key Facts
- Women make up 38% of the underwriting workforce but hold only 18% of chief underwriting officer roles and 19% of senior underwriting positions.
- Only 15% of women are expected to be ready for senior roles within two years, while 52% of survey respondents cited male-dominated leadership as the main career barrier.
Background
The Lloyd’s Market Association and Lloyd’s of London have jointly held the first Underwriting Talent Summit to tackle the gender imbalance within underwriting leadership roles across the market. The event, attended by 175 chief executives, chief underwriting officers, and senior female underwriters, focused on expanding career pathways for women under the theme “Ring the Bell.”
While the wider insurance industry has reported steady improvements in diversity, underwriting continues to lag behind. Lloyd’s data shows that women make up 38% of the underwriting workforce, and 11% come from ethnically diverse backgrounds. However, women hold few leadership positions. Women fill only 18% of chief underwriting officer roles and 19% of senior underwriting positions.
The challenge shows a wider trend in the financial sector, where women hold only one in six executive board positions. While non-executive roles in large listed companies are getting closer to gender balance, leadership positions in underwriting are not improving as quickly.
Concerns have also grown over the narrowing talent pipeline. Lloyd’s survey findings indicate that only 15% of women are expected to be ready for senior roles within two years, down three percentage points from last year. Another 25% are projected to reach that stage within three to five years.
A survey conducted by the LMA highlights clear obstacles. A majority (52%) of respondents cited a male-dominated leadership environment as the key barrier to advancement. Work-life balance challenges and high caring costs were also reported as major hurdles.
Regulators are also increasing scrutiny. New guidelines from the European Insurance and Occupational Pensions Authority require organisations to adopt stronger gender balance measures.
Rachel Turk, chief of markets performance at Lloyd’s, said the industry must move beyond intention. “As leaders, we have a responsibility to take bold, decisive action to embed inclusivity into every aspect of our practices,” she said.
Managing agents will now receive recommended actions as part of a collective push to strengthen diversity in underwriting leadership.
