Your unrestricted access to Commercial Risk, Commercial Risk Europe and Global Risk Manager will end soon.

QBE finds 7.9% ethnicity pay gap in UK operations

QBE has revealed a 7.9% mean average pay gap between ethnic minority and white employees at its UK operations.

Publishing its first ethnicity pay gap report, QBE found the median pay gap, which is the middle figure, was tilted 10.4% in favour ethnic minorities.

QBE said 19.9% of its UK workforce identified as black, Asian or mixed heritage but only accounted for 9.3% at senior level and with no representation at the top executive level.

QBE said it is “determined” to address the imbalance at the top executive level, which largely accounts for the existing mean pay gap. The mean bonus pay gap stood at 54.9% and the median at 43.9%.

The data is based on 80% of QBE’s UK workforce as of April last year, where employees have disclosed their ethnicity. QBE has elected to publish the data to address any imbalances. It said it will continue to publish an ethnicity pay gap report each year alongside its gender pay gap report.

Jason Harris, CEO of 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.”

Back to top button