Future Culture at Lloyd's
Our continued commitment
Lloyd’s is committed to creating an inclusive culture that attracts the most talented people in the world, so that we can together deliver on our purpose of sharing risk to create a braver world.
Learn more about our Culture Dashboard
Transforming Lloyd’s culture is a strategic imperative for the future success of our marketplace – one which is powered by the intellect of its people, who together create our shared culture and our shared future. To get there, we need to be brave in our actions to accelerate change and be transparent in how we measure our progress and hold ourselves to account.
In 2019, we launched a comprehensive programme of actions to drive long-term culture change in the Lloyd’s market. These included forming the Lloyd’s Culture Advisory Group and launching a Speaking Up campaign, as well as setting business conduct standards that we expect everyone who works in Lloyd’s market to adhere to. We have now fulfilled all of our 2019 commitments by setting gender targets and launching the Lloyd’s Culture Dashboard - this benchmarks the market’s starting point and is intended to transparently track Lloyd’s collective progress towards a much more inclusive environment. These form the foundation of our ongoing initiatives and commitment to build a more inclusive environment.
Lloyd’s is equally committed to improving the experience of Black and Minority Ethnic talent in our market, by taking meaningful and measurable action to level the playing field and increasing the representation of Black and Minority Ethnic colleagues, particularly across leadership roles. To support this, Lloyd’s is focusing on improving the collection of ethnicity data and other characteristics to enable it to fully understand its starting point and set a market target for ethnicity in Q2 2021. This follows Lloyd’s five initial actions to help improve the experience of Black and Minority Ethnic talent across the market, published on 10 June.
While we have put in place a series of actions to accelerate change, it is abundantly clear that we have much work to do and we must be impatient in our resolve to get there. The Lloyd’s Corporation will continue to do more in leading the market on all aspects of inclusion and diversity.
Lloyd’s 2019 Programme of Actions
Making the market welcoming for all
- Market-leading family friendly policies launched in the Lloyd's Corporation in Q2 2019
- Continue and grow targeted training and development programmes to increase gender balance
- Set gender balance targets for the Lloyd's market for boards, executive committees and their direct reports. Track progress and publish results from Q2 2020
Ensuring everyone is heard
- Confidential, independently managed ActionLine set up in Q2 2019
- Clear and simple Standards of Business Conduct issued, with oversight from Lloyd’s
- Active bystander training to empower individuals to act and intervene when they witness inappropriate behaviour provided across the Lloyd’s market from Q3 2019
- Speaking up campaign to be implemented in Q4 2019 to encourage everyone to take responsibility and act when they witness or experience inappropriate behaviour
Owning accountability at board level
- Talent and Culture Non-Executive Director appointed for Lloyd’s Corporation Q3 2019
- External expert advisory group to set metrics and inform action plans in Q4 2019
- Lloyd’s culture dashboard with CEO responsibility to measure progress from Q2 2020
- Progress published in Lloyd’s annual report
Standards of business conduct at Lloyd's
Ensuring the standards of business conduct are clearly understood by everyone
These standards of business conduct apply to all passholders and market participants and will be overseen by the Corporation of Lloyd’s. Everyone should have a clear understanding of the behaviours expected and the consequences of failing to meet these expectations.