diversity and inclusion
We believe fostering a diverse and inclusive culture is key to the successful delivery of our future strategy
Our Diversity and Inclusion programme challenges us to provide inclusive products for our customers and members and to ensure our workplace is accessible and inclusive for all - from the culture we create, to the people processes we operate. As every aspect of diversity matters to us, we’ve engaged our people to inform our approach and we’ve made real progress.
Our vision
To foster an inclusive culture and diverse workforce which values individual difference and where everybody can live confident, driving better customer and financial outcomes.
Our charter
Diversity and Inclusion Charter is important to LV=
- It’s good business - our customers and members are diverse too.
- Being best loved is for everyone - our customers, our members and our people.
- It helps us attract and retain the most talented people.
What it means to us
Diversity and Inclusion at LV= means
- Enabling, respecting and valuing individual differences.
- Identifying, addressing and removing unfair barriers in communication, processes, policies, practices, products and services.
- Sharing the different experiences of our people to gain a competitive advantage.
- Creating ideas and solutions built on a range of perspectives.
- Harassment and discrimination are not tolerated.
Our Values
We'll know we have a culture that values Diversity and Inclusion when...
- Everybody feels comfortable being themselves at LV=.
- We are self-aware and accept personal accountability for Diversity and Inclusion.
- The diverse perspectives of our people, our customers and members and people from the communities we operate in are reflected in all we do.
- Our people and leaders are as diverse as the customers and members we serve.
- Read more about the gender pay gap and our commitment to Women In Finance Charter.
Board diversity
We recognise and embrace the benefits of having a diverse Board
We see it as an essential element in maintaining a competitive advantage. A truly diverse Board will benefit from differences in the skills, regional and industry experience, education and professional background, race, gender, and other qualities of Directors. These differences are considered in determining the optimum composition of our Board and when possible should be balanced appropriately.
All LV= Board appointments are made on merit and reflect the skills and experience the Board as a whole requires to be effective. The Corporate Governance and Nomination Committee (NomCo) reviews and assesses Board composition and recommends the appointment of all new Directors to the LV= Board.
In reviewing Board composition, NomCo considers the benefits of all aspects of diversity in order to maintain an appropriate range and balance of skills, experience and background on the Board. The Board supports ethnic and gender diversity.
They’re aware of the Women in Finance Charter target for women to represent 33% of Board membership and the FTSE 350 target is to have a minimum of 40% women’s representation by the end of 2025. Our Board currently has 43% women representation.
The Parker Review recommendation is to have at least one non-white director by 2024. However, in identifying suitable candidates for appointment to the LV= Board, NomCo will consider candidates on merit against objective criteria as well as having due regard for the benefits of diversity on our Board.
As part of the annual performance evaluation of the effectiveness of our Board, Board Committees and individual Directors, NomCo will consider the balance of skills, experience, independence and knowledge on the Board and the diversity representation of the Board.
Equal opportunities
Our policy is to promote an internal culture that is truly free from discrimination, harassment and victimisation – this is supported by our Diversity and Inclusion networks.
- We want LV= to be a place where we can all celebrate differences in a trusted environment. We strive to embed this approach from when our new colleagues join LV= on day one and throughout their career journey with us.
- We’re also committed to ensuring that vacancies are accessible to anyone who wants to work at LV=. We’ll always do whatever we can to make any adjustments that colleagues might need in order to do their job to the best of their ability.