While women are well-represented across the insurance industry as a whole, there are very few women in the top executive positions.
The fact remains that only 6 percent of C-suite positions (CEO, CFO, COO) in the insurance industry are occupied by women and only 12.6 percent of board seats are held by women, according to a recent study by the Academy of Risk Management & Insurance at St JosephÃ¢â‚¬â„¢s University.
Findings from the SJU study were presented at last yearÃ¢â‚¬â„¢s IICF Women in Insurance Global Conference.
However, the glass ceiling is starting to shatter, as evidenced by the recent appointment of Inga Beale as LloydÃ¢â‚¬â„¢s first female CEO.
Beale took the reins in January and shares her vision for the Lloyd’s market and the challenges and opportunities ahead in this interview at lloyds.com.
Asked to describe her management style, Beale said:
IÃ¢â‚¬â„¢ve always enjoyed teamwork and see great benefit in having diverse teams working well together. I therefore do my best to be inclusive, get people involved, particularly when they are the experts, and build solutions and plans together.Ã¢â‚¬
Read more about BealeÃ¢â‚¬â„¢s historic appointment in this article by the Financial Times.
For more on women in insurance, Business InsuranceÃ¢â‚¬â„¢s annual feature Women to Watch spotlights 25 women who are doing outstanding work in commercial insurance, reinsurance, risk management, employee benefits and related fields, such as law and consulting.
Check out Insurance Information Institute (I.I.I.) facts and statistics on women in insurance here.