“A fuss about nothing.” That is what I have heard time and again in the past six months about the groundswell of voices complaining about sexism in the London insurance market. The normally whispered complaints about treatment received by women who work in the London market have been getting louder, bolstered by various diversity and inclusion (D&I) initiatives and the #MeToo movement. Also, now the market’s culture is under scrutiny following reports by Bloomberg about sexual harassment.Executive SummaryThe insurance industry is going through a massive culture shift, whether it likes it or not. Changing the culture requires a crusade, not a mandate, says Mairi Mallon of Rein4ce.
Many of the men (and they are mostly men) who work in the London market are proud of the tradition of Lloyd’s and believe that there is nothing wrong with the culture, which was ripped to shreds by Bloomberg’s report for which it spoke with 18 female executives. However, at the same time, the report sparked a swift response from Lloyd’s, which promised reform.