Lloyd's Reveals Inclusive Futures Coalition Members

Lloyd's, the foremost global marketplace for insurance and reinsurance, has today revealed the members of the Inclusive Futures Coalition. This coalition consists of various market firms and delivery partners responsible for the Inclusive Futures programme, which was introduced in November 2023.

Objectives of the Inclusive Futures Programme

The Inclusive Futures programme aims to create significant, enduring change by supporting Black and ethnically diverse individuals in advancing from education to executive positions. The initiatives within the programme were developed based on input from over 250 Black and ethnically diverse colleagues in the Lloyd's market, along with insights from finance, academic, and diversity and inclusion (D&I) experts.

“Lloyd's launched Inclusive Futures to make our market and society more inclusive. We are now expanding our ambition for what we can achieve by launching the Inclusive Futures Coalition, harnessing the capabilities of our market and delivery partners to increase the impact of Inclusive Futures in delivering lasting change,” says Bruce Carnegie-Brown, Chairman of Lloyd’s.

Members of the Inclusive Futures Coalition

The Inclusive Futures Coalition comprises eight leading firms in the market: Arch, AXA XL, Beazley, Chubb, Hiscox, Howden, MS Amlin, and Tokio Marine Kiln, alongside three delivery partners: Equity, Green Park, and the Lloyd’s of London Foundation.

Major Initiatives

The Coalition is committed to financing and implementing three major initiatives under the Inclusive Futures programme:

• Higher Education Bursaries: Commencing in September, in collaboration with the Cowrie Foundation and Black Heart Foundation, the Lloyd’s of London Foundation will offer bursaries to hundreds of Black and ethnically diverse students pursuing undergraduate degrees related to risk and insurance. Applications will be available on lloyds.com starting in early summer.

• Early Careers Talent Pool: In partnership with Equity, the Coalition aims to create a robust talent pool of entry-level candidates from Black and ethnically diverse backgrounds. This initiative will include pre-assessment, familiarization with the Lloyd's market, and coaching for assessments and interviews.

• Board Talent Pool: Managed by the specialist headhunter and talent advisory firm Green Park, this initiative will prepare Black and ethnically diverse candidates for executive and near-executive roles within the market. Founding Coalition partners will have prioritized access to these candidates and associated executive search services. Market mapping for board succession planning will commence in June 2024.

Mentoring and Sponsorship Programme

These initiatives will be supplemented by a mentoring and sponsorship programme, launching in September, which will link bursary recipients and early career talent with sponsors from the founding member firms. Regular updates will be provided to demonstrate the impact of these initiatives.

“Equity is honoured to collaborate with Lloyd's and our fellow coalition members to foster a more inclusive and diverse marketplace. By investing in initiatives that support Black and ethnically diverse talent, we are taking concrete steps to ensure diversity is woven into the fabric of our industry. Our role in developing the early careers talent pool is crucial in ensuring that the next generation of leaders reflects the rich diversity of our society, bringing fresh perspectives and driving innovation within the industry,” says Junior Garba, CEO of Equity.

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