Lloyd’s returns to black ahead of probe results into sexist culture claims

Llloyd's of London today promised to root out bad behaviour after a “sobering” survey about workplace culture at the age-old insurance market.

The 320-year-old institution publishes the results next week, focusing on areas like gender equality, well-being and speaking out against bad practice. It follows reports in March of sexual harassment and bullying at firms in the Lloyd’s market.

Chairman Bruce Carnegie-Brown today said: “We have an issue we need to get after. We are taking action on bad behaviour and the culture survey will underpin that.”

The survey has been posted to thousands of workers in the insurance market and the Lloyd's board has been analysing the results.

The Lloyd’s market reported a half-year profit of £2.3 billion today, swinging back from a £1 billion loss last year.

Carnegie-Brown and chief John Neal are clamping down on under-performing syndicates, to revive profit.

Carnegie-Brown said: “There’s definitely more to do and we have reasonably robust planning processes. We need to move into good house-keeping rather than making it a one-off exercise”.