Covéa Insurance commits to improving gender balance

23rd March

A year on from HM Treasury’s launch of the Women in Finance Charter, Covéa Insurance is making great strides on its commitment to consistently support the recruitment, development and progression of female talent, towards the objective of increasing the representation of women in its senior positions by 30% over the next 5 years.

Personal Lines Director Carol Geldard has just been shortlisted for the Insurance Leader of the Year at the 2017 Women in Finance Awards. The Awards are the finance industry’s largest diversity initiative, recognising high-achievers, advocates and role models for women in the sector. Carol was identified and nominated externally, by the organiser’s Editorial Board, and is a great role model for the company’s other female leaders.

As a signatory to the Women in Finance Charter, Covéa Insurance has firmly stated its commitment to making a positive change to the role of women, both within its own organisation and across the wider financial services industry. This has included setting specific targets for the Executive Directors to improve gender balance; developing a mentoring scheme to support all its talented people in reaching their full potential; and promoting insurance as a fulfilling and rewarding career option for females as well as males.

A number of initiatives aimed at reducing the gender gap in senior positions in Covéa are already underway.  Examples include an overhaul of the company’s flexible working policy and the subsequent promotion of flexible working for all; the creation of a dedicated programme for those taking extended maternity or paternity leave, providing coaching and additional support to enable them to quickly and successfully integrate back into the business on their return; and the launch of a female development and networking group ‘Inspire Leading Women’. This group, designed to empower Covéa’s talented females through inspirational talks, workshops and sharing experiences, saw the CEO of Pukka Insure, Sam White, take time out last month to share her experiences with over 60 of the insurer’s female leaders.

 

James Reader, CEO of Covéa Insurance, commented:

Striving to achieve a truly gender-balanced organisation is absolutely key to ensuring we can achieve our longer-term growth aspirations and continue to successfully meet our customers’ needs.

I am personally committed to do all I can to ensure that Covéa Insurance is a place where talented men and women can fulfil their potential equally.”

 

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About Covéa Insurance

Covea Insurance Plc is the UK underwriting business of leading French mutual insurance group Covéa, who are number 1 for property and liability insurance in France, generating over 16.6 billion Euros in premiums in 2020.   

Covéa Insurance looks after the insurance needs of over 2 million policyholders; delivering financial reassurance through its Standard & Poor’s ‘AA- stable’ rating, as a guaranteed subsidiary of Covéa. 

The company offers motor, household, protection, pet, mid and high net worth insurance and a range of commercial insurance products, through a range of distribution channels.

Employing over 1900 people, Covéa Insurance has a strong people and service ethos.  It holds ServiceMark accreditation with Distinction for its Personal Lines operation and its Commercial & HNW Claims teams, as well as Chartered Insurer status for its Commercial business.  Covéa Insurance is signatory to the HM Treasury Women in Finance Charter and the insurance Inclusivity Pledge and has been named one of the top 75 employers in West Yorkshire & the Humber.

Recently, Covéa Insurance won the General Insurer of the Year award at the British Insurance Awards 2021. It was named as the Best Place to Work in Digital (Large Organisations) at the Digital Technology Leaders Awards and as the Best Employer at the Yorkshire Financial Awards.  They were also recipients of the Best Insurer title at the British Claims Awards, High Net Worth Product of the Year Award at the Insurance Times Awards, the Staff Empowerment Award at the Diversity & Inclusion in Insurance Awards.

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