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.
To foster an inclusive culture and diverse workforce which values individual difference and where everybody can live confident, driving better customer and financial outcomes.
Diversity and Inclusion Charter is important to LV=
Diversity and Inclusion at LV= means
We'll know we have a culture that values Diversity and Inclusion when...
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.
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.