Tokio Marine Kiln (TMK) has published its first combined gender and ethnicity pay gap report*, including its latest data on gender, and ethnicity data for first time. TMK is voluntarily sharing its ethnicity pay gap data as part of its commitment to addressing the under-representation issues that exist at TMK and more widely across the finance sector.

TMK’s gender pay gap has closed by a third since reporting began, from a mean pay gap of 33% in 2018 to 22% in 2022. While progress has been made, there is still lower representation of females in higher paying roles, with the representation of females decreasing as seniority and salary potential increases.

TMK’s mean ethnicity pay gap for 2022 is 18%, while the median ethnicity pay gap is 15%.

TMK will provide year-on-year comparisons of its ethnicity pay gap from 2023 onwards.

TMK will continue to address its pay gaps and seek to drive further improvement through its inclusion and diversity strategy, including initiatives to foster a safe, open, inclusive and empowering environment for its people. These include its six active employee networks, data gathering and ‘listen and learn’ exercises, reverse-mentoring and training.

Read the full report here.

Brad Irick, Tokio Marine Kiln’s Chief Executive Officer, said: “I am pleased to share Tokio Marine Kiln’s first combined gender and ethnicity pay gap report. Improving the breadth and depth of our talent pool and building an inclusive culture is not only the right thing to do – it is essential to the sustainability of our business. We have a proud reputation for innovation and we are committed to maintaining that through ensuring the strength and diversity of our talent pool. Our aim is for TMK to be recognised as a market leader for inclusion and diversity, and we’re at the beginning of our journey as far as pay gap reporting goes – we look forward to updating the market on progress and lessons learned as we move forward.”

*Pay gap calculations are not the same as equal pay. Equal pay is a legal requirement that TMK is committed to meeting and abiding by.