The Chartered Insurance Institute has reported a mean gender pay gap of 14.8% for 2021, down from 16.3% the previous year. Its mean gender pension gap was 7.4% in 2021 compared with 17.4% in 2020. The CII said its mean ethnicity pay gap was 25.4% in 2021, the first time it has reported this figure.

Sian Fisher, CEO of the CII, said: “The CII is committed to being diverse and inclusive, plus reducing the gender pay, pension gap and ethnicity pay gap.

“It is vital we continue to improve our understanding of the nature of the pay gaps and master the tools that can help us take the necessary steps to tackle the pay, pension, wealth, and opportunity gaps that exists between the genders and different ethnic groups.

“I am proud of the steps we continue to take to tackle gender and ethnicity pay issues and particularly the improvements made. We continue to work on reducing the gender pay, pension and ethnicity pay gap and recognise the challenge of making further improvements next year.”

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