Diversity at Beazley: committing to the “Women in Finance Charter”
We believe a balanced and diverse workforce is good for business –good for our people, our customers and for profitability.
Not only do we have a vision to make Beazley feel truly inclusive, with a great diversity of talent across all levels of our business, we also want to play our part in building a more balanced and fair insurance sector. All elements of diversity are important to us and we’re the first to recognise that there is always more that we can do.
We are therefore proud to have signed up to HM Treasury’s “Women in Finance Charter”, making us the first syndicate and, at 31 January 2018 the only, syndicate in the Lloyd’s insurance market to make this public commitment to improving gender diversity.
By doing so, we have openly promised that women will comprise at least 35% of Beazley’s senior leadership team by December 2020, a commitment that our Chief Executive and our Finance Director are jointly responsible for delivering. As of January 2018, we still had a little way to go: 28% of our senior leadership team of 106 were women.
We are pleased to have now met this original target and as, of 1st January 2020, 36% of people in our senior management category are female. We are now in the process of reviewing our goals on gender diversity to drive further progress and we will share new targets during 2020.
Our Finance Director, Sally Lake, is responsible and accountable for gender diversity and inclusion at Beazley
By signing up, we have committed to the following four actions:
|Have one member of our senior executive team who is responsible and accountable for gender diversity and inclusion||
Our Finance Director, Sally Lake, is responsible and accountable for gender diversity and inclusion at Beazley.
|Set internal targets for gender diversity in our senior management||
Our target is for at least 35% of our senior leadership team to be female by 2020. At 1st January 2020, 36% are women.
We expect each executive committee member to ensure there is an agreed level of gender diversity within the areas of the business for which he/she are responsible.
|Have an intention to ensure the pay of the senior executive team is linked to delivery against the internal targets on gender diversity||
The Chief Executive’s and the Finance Director’s variable pay is linked to the achievement of these milestones. Other members of the senior executive team have an objective based on the gender balance within their teams and this is linked to their annual performance assessment.
|Publish progress annually against these targets in reports on our website||
Our diversity and inclusion programmes are laid out in greater detail in our annual report which is available on our Investor Relations site.