Women in insurance

Fifteen companies from the insurance industry have signed up to the government’s new Women in Finance charter, unveiled today.

This means that the insurance industry is “leading the charge” for gender diversity, the Treasury said in a statement announcing the charter.

The list includes big-name insurers such as Aviva and Direct Line Group, as well as trade bodies ABI and CII (see below for list of insurance signatories).

The charter is designed to promote gender diversity in senior positions by linking bonuses to the hiring of senior women.

A total of 72 companies have signed up to the charter, which the Treasury said included “an impressive number” of retail banks, asset managers and mutuals.

Economic secretary to the Treasury Harriet Baldwin said: “It is fantastic that 72 firms have signed up to the Women in Finance Charter.

“By signing the Charter, firms are committing to driving change at the senior levels of the male-dominated financial services industry.”

Direct Line Group chief executive Paul Geddes said: “Direct Line Group is a firm believer that having a diverse organisation is intrinsically linked to greater productivity and performance, increased innovation as well as better customer understanding.

“However, we also recognise that further engagement and action is needed across financial services if we are truly going to change the status quo.”

Insurance industry signatories to Women in Finance Charter

  • Association of British Insurers
  • Aviva
  • Chartered Insurance Institute
  • Collinson Insurance Services
  • Direct Line Group
  • Ecclesiastical Insurance
  • Legal & General
  • LV=
  • Lloyd’s
  • MetLife UK
  • Phoenix Group
  • Prudential
  • Standard Life
  • The Royal London Mutual Insurance Society
  • Unum