More than half of UK insurance customers want to see greater female representation in boardrooms, according to new research that highlights growing public scrutiny of leadership diversity in the sector.
GlobalData’s 2024 UK Insurance Consumer Survey found that 50.7% of respondents would like to see more women in insurance company boardrooms, indicating that governance and senior composition are now on customers’ radar.
That sentiment is emerging alongside wider efforts to improve gender balance across UK corporates, including the target for 40% women’s representation on FTSE 350 boards by the end of 2025.
Industry analysis shows progress has been stronger in non-executive positions, while women occupy only about one in six executive board roles, underlining a gap between visibility at board level and representation in day-to-day leadership.
Read more: Driving gender balance in insurance
A snapshot survey by the Lloyd’s Market Association (LMA) suggests there are still internal barriers limiting female advancement in insurance. Of 128 female underwriters, chief executives and chief underwriting officers surveyed, 52% cited a “male-dominated leadership environment, leading to a lack of inclusivity” as the main factor behind declining female talent in the underwriting pipeline.
The same LMA research found that 42% of respondents face work-life balance challenges linked to in-office expectations, travel requirements and social obligations. A further 27% pointed to the financial burden of caring responsibilities as a constraint on progression, particularly for roles that involve extensive external engagement.
Charlie Hutcherson, insurance analyst at GlobalData, said the two data sets point in a similar direction.
“These findings highlight a clear disconnect between consumer expectations and the experiences of women within the insurance sector,” Hutcherson said, adding that leadership culture, work-life balance and caring responsibilities continue to feature in conversations with market participants.
Proponents of greater gender balance also point to research linking board composition with financial outcomes, including analysis that “cross-gender leadership teams are 25% more likely to have above-average profitability.”
For insurers, this has placed diversity not only in the context of workforce strategy, but also in discussions with investors and regulators about long-term performance and governance.
Senior figures have used platforms such as International Women’s Day 2025 to call for “breaking down systemic barriers and biases in insurance,” arguing that the focus now needs to move from awareness to practical changes in career pathways and workplace culture. Those themes mirror the LMA findings on structural and cultural frictions reported by women in underwriting and leadership tracks.
Taken together, the GlobalData consumer survey and the LMA’s workforce snapshot suggest that scrutiny of gender representation in UK insurance will remain elevated. Market observers say insurers are likely to face questions not only about headline diversity metrics, but also about how far board and executive structures reflect both customer expectations and the progression experiences of women inside the sector.
