Group 2022 Inclusion & Diversity Action Plan

OUR COMMITMENT TO IMPROVING
  • INCLUSION
  • REPRESENTATION

Over the past few years, Canopius has focused its efforts on I&D and in 2021, took significant steps towards creating positive change. Towards the end of 2021, the I&D Network members and wider stakeholders helped identify priorities and develop the Group 2022 I&D action plan, which encompasses how we will improve representation and foster inclusion and belonging.

A key aspect of Canopius’ I&D approach is to be more evidence-based and data-led. We acknowledge that more must be done to be representative of the communities in which we operate globally, and across all levels of our business. So, to deliver the strategic objectives, the Inclusion and Diversity Network have established global and regional gender and ethnicity targets for our general workforce, mangers, senior managers, Leadership Team and Board . These aim to hold us to account and help us make tangible progress in becoming more representative of the local markets in which our business operates in.

We have modelled these target numbers on previous growth and leaver numbers and using local geographical benchmarks to establish a baseline and stretch target. We have identified where the glass ceiling exists for these different groups and taken account of group and regional differences. We aim to meet the baseline target, but are very keen to achieve the stretch target and will continue to monitor our performance on these.

Baseline Target by 31/12/2023

CMA Board – 16%
Group Board – 19%
Leadership Team – 45%

Senior Managers

Group (all regions) – 31%
UK – 28%
US & Bermuda – 42%
APAC – 36%

Managers

Group (all regions) – 37%
UK – 35%
APAC – 40%

Stretch Target by 31/12/2023

CMA Board – 18%
Group Board – 21%
Leadership Team – 47%

Senior Managers

Group (all regions) – 33%
UK – 30%
US & Bermuda – 44%
APAC – 38%

Managers

Group (all regions) – 39%
UK – 38%
APAC – 43%

Targets are in % and will be reviewed and monitored on an ongoing basis by the I&D Committee.
R indicates where data has been redacted to maintain confidentiality of staff.
*Canopius population on 31/12/2021 except for Managers (31/3/2022).
Leadership Team figures – ExCo.

Baseline Target by 31/12/2023

CMA Board – 7%
Group Board – 8%
Leadership Team – 7%

Senior Managers

UK – 14%
US – 44%

Managers

UK – 18%
US – 48%

All Staff

UK – 20%
US – 43%

Stretch Target by 31/12/2023

CMA Board – 9%
Group Board – 11%
Leadership Team – 9%

Senior Managers

UK – 16%
US – 50%

Managers

UK – 21%
US – 50%

All Staff

UK – 23%
US – 47%

Targets are in % and will be reviewed and monitored on an ongoing basis by the I&D Committee.
R indicates where data has been redacted to maintain confidentiality of staff.
*Canopius population on 31/12/2021 except for Managers (31/3/2022).
Leadership Team figures – ExCo.

Improve Female Representation to:

Baseline Target by 31/12/2023

CMA Board – 16%
Group Board – 19%
Leadership Team – 45%

Senior Managers

Group (all regions) – 31%
UK – 28%
US & Bermuda – 42%
APAC – 36%

Managers

Group (all regions) – 37%
UK – 35%
APAC – 40%

Stretch Target by 31/12/2023

CMA Board – 18%
Group Board – 21%
Leadership Team – 47%

Senior Managers

Group (all regions) – 33%
UK – 30%
US & Bermuda – 44%
APAC – 38%

Managers

Group (all regions) – 39%
UK – 38%
APAC – 43%

Targets are in % and will be reviewed and monitored on an ongoing basis by the I&D Committee.
R indicates where data has been redacted to maintain confidentiality of staff.
*Canopius population on 31/12/2021 except for Managers (31/3/2022).
Leadership Team figures – ExCo.

Improve Black, Asian & Minority Ethnic Representation to:

Baseline Target by 31/12/2023

CMA Board – 7%
Group Board – 8%
Leadership Team – 7%

Senior Managers

UK – 14%
US – 44%

Managers

UK – 18%
US – 48%

All Staff

UK – 20%
US – 43%

Stretch Target by 31/12/2023

CMA Board – 9%
Group Board – 11%
Leadership Team – 9%

Senior Managers

UK – 16%
US – 50%

Managers

UK – 21%
US – 50%

All Staff

UK – 23%
US – 47%

Targets are in % and will be reviewed and monitored on an ongoing basis by the I&D Committee.
R indicates where data has been redacted to maintain confidentiality of staff.
*Canopius population on 31/12/2021 except for Managers (31/3/2022).
Leadership Team figures – ExCo.

Setting targets does not mean we are not committed to improving the representation of other demographic groups. We must improve demographic declaration rates and reporting overall; improved data quality will help to continue to inform future targets. We will also continue to work closely with our five Special Interest Groups; Gender, Race & Faith, Socio-economic, Disability & Neurodiversity and Pride to shape our priorities and raise awareness of key issues affecting our staff.

Our Group 2022 I&D Action Plan also includes a range of actions, including ways to tackle our gender pay gap. This includes us signing up to the Women in Finance Charter whereby we are pledging for gender balance across financial services to build a more balanced and fair industry. We also recently signed the Change the Race Ratio pledge, which includes us committing to improve ethnic diversity and participation as well as reporting our ethnicity pay gap within the next 24 months. And, we are also members of various I&D specialist organisations to support us on our journey including the Business Disability Forum and Inclusive Employers.

Women in Finance Charter logo

Change the race ratio logo

Business Disability Forum

Committed Member of Inclusive Employers logo

Chief Executive (UK) and I&D Network and Committee Chair, Sarah Willmont, says:

Sarah Willmont“At Canopius, we believe our people are what enables us to do better and more innovative business. We know we can only achieve this through a workforce which is diverse in thought, background and experience, and should be representative of the communities in which we operate globally. We are committed to fostering and providing an inclusive workplace that enables everyone to achieve their full potential. This is why we have developed gender and ethnicity representation targets, established our I&D action plan and have made external pledges to hold ourselves to account for the progress we want to see. I would like to celebrate the work so far but also acknowledge there is more that we need to do.”

Full 1
“We are committed to fostering and providing an inclusive workplace that enables everyone to achieve their full potential.”
Full 1