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Gender Diversity in Banks and Insurance Companies: The State of Art

In: Women in Financial Services

Author

Listed:
  • Giuliana Birindelli

    (“G. d’Annunzio” University of Chieti-Pescara)

  • Antonia Patrizia Iannuzzi

    (“Aldo Moro” University of Bari)

Abstract

This chapter is exclusively empirical as it aims to provide an overview of the gender diversity policies adopted by banks and insurance companies worldwide over the last 11 years (2010–2020). This was done by using information collected from the Refinitiv Eikon database. The data considered are (a) the percentage of women employees, (b) the percentage of new women employees, (c) the percentage of women managers, (d) the percentage of female directors on the board, (e) the percentage of female executive members, (f) the gender pay gap, (g) the flexible working hour mechanisms promoting a work-life balance, (h) the board gender diversity policy and, finally, (i) the support for the UN-Sustainable Development Goal (SDG) 5 Gender Equality. The full sample consists of 2064 listed financial intermediaries of which 1427 are banks and 637 are insurance companies (belonging to the following sub-sectors: life & health insurance, multiline insurance & brokers, property & casualty insurance, and reinsurance). Overall, the analysis shows that women are still underrepresented in managerial and especially executive roles in both the banking and insurance sectors. However, it is important to underline that in the last 11 years, there has been a rearrangement of the roles held by women. On the one hand, the number of women employees has decreased. On the other hand, the number of women directors, managers, and executives has increased, although at very different growth rates. In any case, this rebalancing process is still ongoing and will be so for a long time.

Suggested Citation

  • Giuliana Birindelli & Antonia Patrizia Iannuzzi, 2022. "Gender Diversity in Banks and Insurance Companies: The State of Art," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Women in Financial Services, chapter 0, pages 297-313, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-3-030-93471-2_9
    DOI: 10.1007/978-3-030-93471-2_9
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