Beale says that the answer to increasing prospects for women in
reinsurance is simple—hire more of them. “We simply need more women working in reinsurance. I’ve
already started to make changes, and I’m proud of our early success,” she says. “We have launched our Inclusion@Lloyd’s initiative and have
also been running a series of events across the market. Specific targets have been set to make our workforce more diverse and progress will be reviewed along the lines of gender, age, ethnicity, sexual orientation and faith.” Beale explains that there are three keys things that women can
do to help themselves progress. “I will always come back to talking about the PIE model
whatever your gender: Performance, Image and Exposure,” she says. “When I started out in my career I just worked and worked and thought that was enough. I thought I would get recognised and promoted for the ‘P’—simply for doing a good job. “But it isn’t enough. You have to work hard on the ‘I’—your
image and how others perceive you—and on the ‘E’.” Beale says that exposure through networking and getting
“I will always come back to talking about the PIE model whatever your gender: Performance, Image and Exposure. When I started out in my career I just worked and worked and thought that was enough.” Inga Beale
involved in cross-functional projects and activities at work is important. “Women also need to support each other. I was fortunate to
have access to a leading player in the reinsurance industry, Annette Sadolin (now retired from executive life but still guiding people and businesses in a non-executive capacity). She was part of the global management board of GE Insurance Solutions, where I had the pleasure to work with her for over 10 years, and she was a true inspiration.” Karen Clark, president and CEO, Karen Clark & Company
agrees. “I’ve noticed over the years that men are more likely to ask for promotions and to negotiate harder for compensation. Women who worry about whether they’re qualified or not should remember they don’t have to be perfect—they just have to be better than the other guy,” she says. Clark feels that women should communicate in a more
assertive way. “I recommend women communicate directly and assertively
and not too politely or apologetically. Don’t say you’re sorry unless it’s something that really requires an apology. Be brief and
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speak with confidence—it’s not just what you say, but how you say it,” she adds. As the founder of her own company, Clark has fought hard
to retain her position as an influential women among a sea of men. However, the fight for the top spot does not come without dedication, as she explains. “One thing that is holding women back is a lack of mentors and sponsors to help them reach senior positions. Men seem to be better at networking in business and if two people are equally qualified, the person with more connections is more likely to get the job. In addition, there’s often a perception that women are not as willing or able to put in as many hours to get the job done,” she says. Monica Cramér Manhem, president & CEO, Sirius Re, says
that professionally there have been many challenges over the years, but that with skill and dedication, these can always be overcome. “The biggest challenge will always be the one you haven’t
experienced yet,” she says. Cory Anger, global head of insurance-linked securities (ILS)
structuring at GC Securities, highlights the importance of finding a work-life balance, saying that a strong network of support is needed at home and at work. “Helping women find the work-life balance is important.
Particularly when we have families; we want to do it all. However, it is important to balance attending important work functions versus when it is important not to attend,” she says. “Women also need to recognise that good help is needed,
whether it is a strong team to support you in work functions or to assist in managing certain home activities.” Pina Albo, member of the board of management, Europe
and Latin America, Munich Re, agrees. She says that the challenge of holding a senior level position is both personal and professional. “On the personal front, it might involve uprooting family, saying goodbye to friends and familiar places and setting up anew. On the professional side, it involves coming into a market from the ‘outside’ and having to understand the new business environment, its challenges, opportunities, clients, etc, quickly and well enough to feel you can add value and be respected as a leader,” says Albo. Anger also highlights the importance of patience when trying to
achieve your goals. “The path to leadership and success does have setbacks but how you handle and persevere during such periods will show others more about your character and aspirations. It is important to show senior management that you care about the organisation and are driven to helping the company be number one,” she says.
Making their mark While the challenges for women in the re/insurance industry are frequently discussed and solutions to address the imbalance are being worked on, many women have battled through the divide to secure seats at the top table. Peta White, managing director, head of North America
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