100 influential women in re/insurance
BREAKING THROUGH THE GLASS CEILING
point for the re/insurance industry, symbolising the rise of women in this industry globally. Beale has certainly proved that no position is beyond a female
I
executive. Yet some believe that it remains a battle for women to secure senior positions, and more needs to be done to tackle this. According to
the Insurance Information Institute (III),
approximately 60 percent of people working in the insurance industry in the US are women. However, an IICF (Insurance Industry Charitable Foundation) study found that women hold only 6 percent of top insurance executive positions (CEO, CFO, COO, etc), 12.5 percent of board seats, and 8 percent of inside business, legal or actuarial officer roles, such as chief actuary or division president, among the 100 publicly-traded or mutual insurers/reinsurers. Further, a Deloitte Talent in Insurance Survey from 2014
revealed that, among other attributes, male and female business students want to work for companies that support gender equality. “Although some women have broken through the glass ceiling in our industry, more progress must be made to accelerate the rate of change, and significantly improve gender diversity within the highest levels of companies,” says Elaine Caprio, president, CapLaw Advisors. “There is also work to be done to attract and retain female
millennial talent. This generation of women is more highly educated, entering the workforce in larger numbers than any other previous generation, and will be seeking work with companies who have a strong track record on diversity, as well as opportunities for career progression. “Increasing the visibility of women in leadership roles will help
While men have traditionally ruled the re/insurance industry, a new generation of career-hungry women seeking top level positions continue to joust for the top spots. Intelligent Insurer profiles 100 influential women in the industry who are paving the way for the new generation and interviews them on the challenges they face.
4 | INTELLIGENT INSURER | May 2014
the industry tap into this vast talent pool.” Intelligent Insurer has profiled 100 influential women in the re/ insurance industry, and asked them how they became involved in the sector, what their aspirations are and what they have found most challenging in their careers to date. The 100 women we have profiled are by no means designed to
represent a complete and comprehensive list and it is certainly not a ranking. Instead, we have included a cross section of senior women who influence the global risk-transfer industry in a variety of ways. While many are chief executives and the majority work in reinsurance, we also included women from intermediaries, insurers and trade bodies and their roles range from underwriter to chief risk offer to in- house legal councel to non-executive directors in some instances. The point is that all 100 women in some way exert influence on the way large risks are managed and transferred globally and we celebrate their successes and the different perspectives they offer. Within the information gathered from those included in the
supplement, many shared interesting views on the way in which women are perceived and treated within the re/insurance industry, and how women have learned to adapt to fit into a predominantly male world.
www.intelligentinsurer.com
n a historically male-dominated environment, Inga Beale’s appointment as CEO of Lloyd’s—the oldest and most iconic of all risk transfer markets—marked an important turning
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