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Lloyd's of London to take measures to improve diversity, office culture

Lloyd's of London will take a series of actions to address reports of sexual harassment in the insurance marketplace.

Bloomberg News on March 21 published an extensive report detailing allegations of inappropriate behavior toward women in the Lloyd's environment, as well as alleged sexist and homophobic abuse directed at former CEO Inga Beale, who took office in 2014 and left the marketplace in 2018.

Among other measures, Lloyd's will add two women — Fiona Luck and Vicky Carter — to its previously all-male nominations committee, replacing David Manning and Charles Franks. It said it was also committed to "hear the accounts of the women who contributed to the article published by Bloomberg, in a safe and confidential space."

It will also provide an independently managed, confidential, market-wide access point for reporting inappropriate behavior, with punishments for those found to have acted inappropriately to include sanctions from their own companies and from Lloyd's, which could ban them from entering the marketplace for a fixed period and possibly for life.

The Sunday Times of London reported March 24 that Lloyd's was also poised to convert the pub below its London offices into a coffee shop. The actions on workplace behavior come ahead of Lloyd's annual results announcement March 27, at which new CEO John Neal is expected to offer a preview of a wide-ranging review of the market to be launched in early May, the newspaper added.