FILE PHOTO: A man enters the Lloyd’s of London building in the City of London financial district in London, Britain, April 16, 2019. REUTERS/Hannah McKay/File Photo
LONDON (Reuters) – Nearly one in 12 employees working in the Lloyd’s of London insurance market has witnessed sexual harassment there in the past year and a quarter have seen excessive drinking, according to a culture survey published by Lloyd’s on Tuesday.
The market, which employees around 45,000 people in insurance and broking firms, is trying to improve standards of behaviour after reports earlier this year of sexual harassment and day-time drinking.
Eight percent of respondents had seen sexual harassment at Lloyd’s in the last 12 months and 24% had seen “excessive consumption of alcohol”, according to the Lloyd’s survey which had 6,000 responses. Twenty-two percent had seen people at their firms ignore inappropriate behaviour.
“I don’t think anyone can deny there is a problem to address here,” Lloyd’s Chief Executive John Neal told Reuters by telephone, adding that publishing the survey in its “ugly raw fashion” should help bring about change.
Lloyd’s has already introduced sanctions for poor behaviour, including potential life bans on entering its City tower.
It said on Tuesday it was taking further action in response to the survey, including introducing a gender balance plan, business conduct requirements and setting up an advisory group chaired by Lloyd’s board member Fiona Luck.
Sixty percent of the survey respondents were men and 90% of respondents based in London.
Reporting by Carolyn Cohn; editing by David Evans