Impact of Dive in Festival sees more Lloyd's firms implementing formal D&I policies

diversity

The number of Lloyd’s firms with diversity and inclusion councils or committees has gone up by 17.5% since 2016.

Following on from Lloyd’s report last year, Holding up the Mirror: Reflections on diversity and inclusion in the Lloyd’s market, a new report has reviewed the impact of last year’s Dive In Festival and progress in key areas.

The latest research reveals what D&I looks like currently in the market, showing that 71% of firms have training or development in place to support diversity.

Pauline Miller, head of diversity and inclusion at Lloyd’s, said: “It’s great to see such positive numbers come out of the research, with a significant increase in governance and some really exciting collaboration through network groups.

“The case studies outlined in the report show just a few of the fantastic contributions being made across the market towards diverse and inclusive best practice.”

Since last year, the number of firms with a formal D&I policy in place has risen to 53% from 35% with the results being gleaned from responses from 32 companies who have signed the Diversity and Inclusion Charter.

Dominic Christian, chair of Inclusion at Lloyd’s and CEO of Aon UK, said: “Results show that perhaps counter-intuitively, you don’t need a huge workforce and big budgets to progress successfully.

“In fact, the smallest firms in our sample all have formal D&I policies in place. It is really encouraging to see that every respondent reports either a positive or an improving D&I culture which suggests positive momentum is indeed building.

“But however bullish we are about progress, we must always temper our successes by acknowledging how much work there is still to do.”

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