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Insurance gender pay gap

Policy Briefing

Publication date:

26 April 2018

Last updated:

31 October 2018

Author(s):

Policy and Public Affairs

We analyse the insurance sector's gender pay gap and provide guidance to members on how to fix it.

All firms in the UK with over 250 employees have for the first time published the pay gap between their male and female employees. Of these 10,332 companies, we have analysed the data relating to 199 firms that make up the insurance and financial planning profession.

The requirement to publish data on the pay gap has clearly focused attention on the problem, and many firms now have action plans in place to improve equality. But the real business benefit will be the improved diversity of thought, talent optimisation and ability to understand and reflect the needs of our diverse society.
We recognise that the pay gap in our profession is too wide, and the purpose of this paper is to analyse this overall figure in more detail to help prioritise action to reduce it.

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This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), the CII group, local institute or Society, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the CII group, local institutes, or Societies.