Former BMA director to oversee cultural transformation at Lloyd’s

Lloyd’s has created an independent advisory group to oversee its cultural transformation that will be headed by Fiona Luck, a former member of the Bermuda Monetary Authority board of directors and current board member at Lloyd’s.

At Lloyd’s Luck serves as non-executive director responsible for talent and culture. Earlier in her career she worked at both Ace and XL Capital, and served as a director at Catlin.

The move is one of a series of actions Lloyd’s has taken to make employees feel safe, valued and respected, Lloyd’s said. It follows the completion of a culture survey, commissioned by Lloyd’s in the wake of reports of sexual harassment in the Lloyd’s market, that highlighted concerns around gender discrimination, sexual harassment, excessive pressure and poor leadership.

In response to these findings, Lloyd’s is also forming a gender balance plan, setting clear and measurable targets for improving the representation of women at senior levels of the organisation. It is setting new standards of business conduct requiring every person and organisation operating in the Lloyd’s market to act with integrity and respect. And it is introducing a culture dashboard to closely monitor progress in the Lloyd’s market against key indicators of a healthy culture, to be published in Lloyd’s annual report.

ILloyd’s will roll out further measures this year and next to address the concerns raised in the survey.

John Neal, CEO at Lloyd’s, said: “I am determined that we create a working environment at Lloyd’s where everyone feels safe, valued and respected. Cultural change takes time, but we have to accelerate progress and the measures announced today are intended to do just that.”