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Hiscox releases gender pay gap figures

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Hiscox releases gender pay gap figures

Hiscox Ltd. reported a mean hourly gender pay gap in its U.K. operations of 31.1% and a mean bonus pay gap of 71.1%, saying this was driven by fewer women in senior posts.

The median hourly and bonus pay gap stood at 26.2% and 49.5%, respectively.

The Bermuda-based insurer said it has an equal gender pay split at entry levels but there is a decline in women filling senior, higher-paid roles. Group CEO Bronek Masojada said: "We recognize it will take time to reduce our gender pay and bonus gaps, but we are determined to make lasting changes."

The U.K. government has required companies with over 250 employees to disclose their gender pay gap figures, by April 4.