QBE publishes first ethnicity pay gap report for UK
QBE European Operations has today published its first UK Ethnicity Pay Gap Report 2020.
The report details the difference in the average hourly rate of pay between QBE’s UK ethnic minority and white employees as of April 2020, which has been analysed using the same data and methodology as gender pay gap analysis. The data generated is based on 80% of QBE’s UK workforce who have shared details of their ethnicity.
It is not a government requirement to produce this report, however, QBE has elected to publish the data as part of its commitment to addressing any imbalances within its business. It is QBE’s intention to continue to publish the ethnicity pay gap report annually, alongside the gender pay gap report and to track progress made.
In order to address existing pay gaps highlighted in the report, QBE has committed to:
- Improving diversity data on UK employees
- Actively reviewing processes and practices across the employee life cycle to reduce opportunities for systemic bias.
- Reviewing hiring policies and maximising opportunities to attract a diverse talent pool.
- Educating and raising awareness across QBE through our internal diversity network.
Jason Harris, CEO, QBE International, said: “I truly believe improving the ethnicity pay balance is very important for our people and for the progression of the company. It is something that I personally am fully committed to and will make sure in the years ahead active measures are taken to improve this balance. This is our first year publishing our ethnicity pay gap data with the intention to be transparent with our colleagues, by listening to their experiences and finding ways to create more opportunities and continuing to forge an inclusive and diverse workplace.”
The full report can be downloaded HERE
Authored by QBE
About QBE
QBE European Operations is part of QBE Insurance Group, one of the world’s leading international insurers and reinsurers and Standard & Poor’s A+ rated. Listed on the Australian Securities Exchange, QBE’s gross written premium for the year ended 31 December 2018 was US$13.7 billion.
As a business insurance specialist, QBE European Operations offers a range of insurance products from the standard suite of property, casualty and motor to the specialist financial lines, marine and energy. All are tailored to the individual needs of our small, medium and large client base.
We understand the crucial role that effective risk management plays in all organisations and work hard to understand our clients’ businesses so that we offer insurance solutions that meet their needs – from complex programmes to simpler e-trading solutions – and support them in minimising their risk exposures. Our expert risk management and rehabilitation practitioners focus on helping clients improve their risk management so that they may benefit from a reduction in claims frequency and costs.