New survey data from the LMA and Lloyd’s suggests that the pipeline of female underwriting expertise is shrinking, with women holding only 18% of CUO or equivalent roles and 19% of head of or senior line underwriter posts. This contrasts with 36% female representation across leadership roles in the wider market. Succession indicators have also worsened, with only 15% of women deemed ready for leadership within two years, and 25% within three to five years, both falling from last year. Women currently make up 38% of the 7,500 underwriting workforce.

A separate snapshot survey of 128 female underwriters, chief executives and CUOs highlights cultural and structural barriers. A male-dominated leadership environment was cited by 52% as the main reason for declining female progression. Work-life balance pressures linked to office attendance, travel and social demands were raised by 42%, while 27% pointed to the cost of caring for children or elders.

Sheila Cameron, chief executive of the Lloyd’s Market Association, commented: “The themes from the survey respondents show that the decline in our female underwriting pipeline reflects intertwined structural and cultural barriers. A male-dominated leadership environment has embedded norms that undervalue flexibility and reward visibility / long hours.”

Despite the findings, 75% of respondents said flexible working had been crucial to their success, and many reported supportive managers and high levels of trust. Yet financial strain remained acute, with some paying over £20,000 a year for childcare or £6,000 a month for care of elders. Some also flagged informal exclusion from networking and development opportunities.

The data was released as Lloyd’s and the LMA brought together 175 chief executives, CUOs and senior female underwriters for their first joint underwriting expertise summit. Rachel Turk, chief of markets performance at Lloyd’s, said: “As leaders, we have a responsibility to take bold, decisive action to embed inclusivity into every aspect of our practices.” She warned that without sustained change, the decline in senior female underwriting expertise would deepen.

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