• Intertwined structural and cultural barriers disadvantage women with caring responsibilities
• Progress in many areas, but more work needed to address pipeline of CUOs and Senior Underwriters
• Male-dominated leadership environment is a significant challenge for 52% of female underwriters

London, 24 November 2025: The LMA and Lloyd’s are today jointly hosting the first ever Underwriting Talent Summit.  Attended by 175 CEOs, CUOs and senior female underwriters from managing agents, the summit is organised around the theme of “Ring the Bell” – setting out to increase the pipeline of female underwriters in the market overall.

Underwriting diversity lags behind the overall industry
To give context, the 2025 Lloyd’s Market Policies and Practices survey shows continued progress towards a more diverse workforce overall.  However, the picture in underwriting is different.

• Of a population of just over 7,500 in Underwriting, 38% are women and 11% are ethnically diverse, demonstrating progress at junior levels.
• Of the CUO (or equivalent) roles however, just 18% are female, and only 19% hold “head of” or senior line underwriter roles compared to 36% female leadership across the market as a whole.
• The talent pipeline also shows backwards steps, with only 15% of women expected to be ready to take on leadership roles in 0-2 years (a drop of three percentage points from last year) and just 25% in the 3-5 year range (down four percentage points from last year). 

Survey of female underwriters
In advance of today’s summit, the LMA also conducted a snapshot survey of 128 female underwriters, CEOs and CUOs to learn what the barriers to achieving senior underwriting roles are.

The top three barriers identified were:

• 52% of respondents cited a “male-dominated leadership environment leading to a lack of inclusivity” as the primary root cause of why our female underwriting pipeline is decreasing
• Challenges with work-life balance given requirements for in office presence and demanding travel and social expectations was raised by 42% of respondents.
• The financial burden of caring costs, both of children and parents, was raised by 27% of respondents.

Sheila Cameron, CEO of the Lloyd’s Market Association said: “The themes from the survey respondents show that the decline in our female underwriting pipeline reflects intertwined structural and cultural barriers.”

“A male-dominated leadership environment has embedded norms that undervalue flexibility and reward visibility / long hours.  While flexible working and return-to-work programmes exist, they often lack the cultural backing needed to ensure equal access to advancement. Limited childcare and financial support can further constrain progression.”

“Men face similar pressures, often avoiding full paternity leave for fear of career impact. Together, these dynamics undermine inclusivity and weaken the sustainability of our talent pipeline.  It is time to change all of this, and today’s conference is the first step towards a new start for women in underwriting.”

There are positive experiences to celebrate
When asked to share positive experiences of how a firm has shown support, respondents overwhelmingly highlighted working patterns, with 75% saying that flexible working arrangements have been pivotal in supporting them.

Sheila said:“The survey also heard of compassionate managers, reflecting the strong, relationship-driven culture of this market and the genuine care and kindness we show each other. Crucially, trust in employees to deliver results, paired with flexibility, was seen as essential.”

“These positive stories demonstrate the progress we are making and the impact of supportive working environments and policies.”

But financial and cultural issues remain
The additional financial pressures many of those with dependents are under is also highlighted in survey responses. Over half of our survey respondents cited significant financial strain, with many paying over £20,000 for childcare a year, or £6,000 a month for elder care.

Some survey comments also highlighted barriers to networking and informal development opportunities such as unintentionally excluding women or part-time workers from networking or business development events.

Rachel Turk, Chief of Markets Performance at Lloyd’s, said: “As leaders, we have a responsibility to take bold, decisive action to embed inclusivity into every aspect of our practices. This is not optional—it’s a collective call to action. This conference was designed to celebrate the remarkable women who hold senior underwriting positions today and to recognize organizations that are setting the standard for retaining female talent at the top. Yet, we cannot ignore a stark reality: the pipeline of senior women in underwriting is shrinking. Without urgent and sustained action, this challenge will only deepen in the years ahead.”

Time to Ring the Bell
Following the conference, attending managing agents are encouraged to consider making a series of changes within their own businesses to help build out their female talent pipeline. Rachel concludes: “This is not about Lloyd’s or the LMA owning the actions. The conference has gathered together 175 senior leaders to ask them to take collective responsibility to take actions forward – whether in their own firm or across the market.  To promote this, we will provide summit attendees with a list of actions that they can consider taking within their own firms.”

– ENDS –

Notes to editors 

Media relations contacts

LMA:

Carole Porter, Head of Marketing & Communications

+44 020 3307 3922 | Email: carole.porter@lmalloyds.com

Omnia Partners:

Victoria Sisson, Director

+44 794 129 4872 | Email: victoria.sisson@weareomniapartners.com

About the LMA

The Lloyd’s Market Association (LMA) exists at the very heart of Lloyd’s, a world-leading global marketplace for complex risk where solutions to challenges are delivered every day. All 55 Lloyd’s managing agencies, with a total market stamp capacity of approximately £56.2bn in 2025, and all Lloyd’s members’ agents, are members of the LMA.

We represent our members’ interests to organisations including governments, regulators, and the market’s central supporting body, the Corporation of Lloyd’s. We provide professional and technical expertise in areas ranging from model policy wordings to the implementation of innovative technologies.

We connect with our members to identify and resolve issues facing the market, and work in partnership with Lloyd’s and the other market associations to influence initiatives and outcomes. We operate the market’s most comprehensive technical education service, the LMA Academy.