40INFLUENTIAL WOMEN W
hen Inga Beale took the top job at Lloyd’s in January 2014, John Nelson, chairman of Lloyd’s, summed up his delight that she had taken the position.
“She has 30 years’ experience in the insurance industry. Her CEO experience, underwriting background, international experience and operational skills, together with her knowledge of the market, make Inga the ideal chief executive for Lloyd’s. I very much look forward to working with her,” he said.
Lloyd’s wise choice, based on Beale’s excellent credentials, highlights the fact that a growing number of companies are breaking free from traditional recruitment processes that favour male-dominated networks. There is no doubt that Beale’s appointment will inspire other women with boardroom aspirations.
As Susan Zdroik, senior vice president and client manager for Munich Re and a member of the Association of Professional Insurance Women (APIW) board puts it: “Ms Beale’s non- traditional path to the top is a shining example of diversity and encouragement to others not to give up on their career goals.”
But are women with similar levels of experience still failing to
The appointment of Inga Beale as Lloyd’s first female chief executive in January was a landmark for women in reinsurance—but men still hold the majority of the top jobs. Intelligent Insurer asks why this is and profiles 40 senior and influential women working in
reinsurance or companies closely linked to this sector.
win the top jobs in reinsurance? It is now three years since the publication in the UK of Lord Davies’ report, Women on Boards, which stated that at the current rate it would take more than 70 years to achieve gender-balanced boardrooms in the UK.
Since then, according to data supplied by relationship capital analyst BoardEx in November 2013, the number of women directors in FTSE 100 companies has risen from 12.5 percent to 19 percent. The number of all-male boards has fallen from 21 to 5 and the proportion of women directors in FTSE 100 companies has risen from 7.8 to 15.1 percent.
Clearly some progress has been made, and there are signs that
the insurance industry is getting behind the drive to recruit more women at the top.
Elin Hurvenes, founder and chair of the Professional Boards
Forum, which works to raise the number of women in boardroom roles in the UK and parts of Europe, cites the involvement of major insurers at the forum’s first event in Zurich in February 2014, as evidence. Swiss Re hosted the event; chairman Walter Kielholz spoke at the event and Zurich Insurance also participated.
2 | INTELLIgENT INsUrEr | May 2014
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