Zurich UK narrows gender pay gap in 2018

Zurich UK has reported a 4.5 percentage-point fall in its mean gender pay gap, taking the 2018 figure down to 22.8 percent.  

According to the carrier’s latest gender pay report, the mean gap declined from 27.3 percent in 2017.  

Zurich’s median gender pay gap fell by 4.8 points to 22.6 percent between 2017 and 2018.  

The proportions of men and women in each quartile also moved, with the percentage of women in the lower quartile declining by 1.3 points to 62.7 percent. 

In the upper middle and upper quartiles, the proportion of women rose by 5.3 points to 33.3 percent and 2 points to 31 percent, respectively. 

However, Zurich went on to say in the report that there were still fewer women than men in senior and technical roles – an issue it promised to address. 

Zurich’s mean and median bonus pay gap grew around 4 points and 10 points respectively, even though virtually the same proportion of men and women – 95 percent  received bonuses in 2018 as in 2017.  

This was attributed to an increase in one-off payments for attraction and retention.  

The report also said figures were impacted by most part-time workers being women. 

In its report, Zurich said that it had introduced initiatives to reduce its gender pay gap. 

These included advertising new vacancies as available part-time, job-share or full-time, and conducting interviews with two or more colleagues from diverse backgrounds.  

Research done by The Insurance Insider last year found that Zurich was below the industry average of a 31.2% gender pay gap, coming 19 out of the 74 insurers.  

Zurich is one of the first insurers to release their gender pay gap data ahead of the April deadline, making it unclear how they rank compared to other insurers in 2018. 

Gender pay gap reporting become mandatory for employers with 250 or more employees from 2017, with the first reports on the gender pay gap being published in April 2018.  

The current deadline for businesses to publish their gender pay gap report data is the 5 April.  

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