Lloyd’s, the world’s leading insurance and reinsurance marketplace, has released results from its Culture Survey, covering the Corporation, managing agents, and brokers.
Fieldwork ran between September and October 2025. The scope stayed broad. Participation stayed high. The tone, largely consistent with prior years.
Survey data shows the Lloyd’s market outperforming the financial services benchmark on 26 of 28 comparable measures.
According to Beinsure, sustained performance matters more than headline jumps. This year’s results show consolidation rather than spikes. Gains made in recent cycles held.
Accountability and client focus posted strong scores across the market. Leadership perception and psychological safety remained stable at high levels. Close to 9 in 10 respondents reported feeling able to be themselves at work. That figure hasn’t drifted. It stuck.
Advocacy reached 84%, sitting 13 points above the financial services benchmark. The largest gaps versus peers appeared in two areas.
Understanding of expected behaviours exceeded benchmarks by 28 points. Processes acting as barriers came in 22 points better than the comparator group. According to Beinsure, those deltas signal operational maturity more than messaging.
When respondents described firm culture in their own words, three terms dominated. Friendly. Collaborative. Professional. No surprise there. Still useful.
Lloyd’s also adjusted how results get presented. Firms now sit within performance bands rather than a single distribution.
18% of market firms achieved an Excellent overall rating. 17% landed in the Very good band. The remaining 12% rated as Good. None fell into Fair or Poor categories.
Patrick Tiernan said culture remains a leadership priority, with focus on inclusion, transparency, and consistency. He described the current position as strong but incomplete.
Progress continues, though pressure remains to improve where results lag expectations.
Building a culture that is inclusive, transparent, consistent and values-led is one of my top priorities. Our market culture is not perfect, but it is very good – and improving. At Lloyd’s, we are 100% committed to creating a culture that is objectively excellent.
Lloyd’s Chief Executive, Patrick Tiernan
Tiernan added that honest self-criticism, paired with outcome-driven management, will determine whether the market attracts talent and stays relevant long term. The message landed without flourish.
“We start from a relatively strong position, benchmarked against the wider financial services sector, but it is encouraging that we remain clear-eyed about where we must do better. Honest self-criticism, combined with a relentless focus on outcomes, will be essential if we are to attract and retain the best talent and sustain the long-term relevance of our industry,” Tiernan said.
According to Beinsure, markets with durable culture scores tend to outperform peers when conditions tighten. Lloyd’s seems aware of that math.
