The London arm of one of Japan’s biggest insurance companies has launched an investigation following allegations of sexual harassment.
Tokio Marine Kiln, part of the Tokio Marine group and one of the largest insurers at Lloyd’s of London, said any breach of its rules would “be taken extremely seriously”.
Bloomberg News on Tuesday reported that two executives had left Tokio Marine Kiln following harassment allegations.
A company spokesperson said: “TMK has clear standards and policies for workplace conduct, any breach of these will be taken extremely seriously and would not reflect our company values. A formal and independent investigation is already under way and we are working with external HR advisers to identify areas where we can drive further progress.”
Tokio Marine Kiln took in gross premiums of £1.4bn across three syndicates in 2018. Its chief executive, Charles Franks, sits on the Lloyd’s franchise board, one of the bodies that governs the market.
Concern is growing about the extent of harassment in and around Lloyd’s of London. John Neal, the market’s chief executive, has promised to take tough action to stamp out any wrongdoing.
So far he has set up a bullying and harassment support line; banned people under the influence of drink or illegal drugs from entering the Lloyd’s building; and threatened lifetime bans for anyone who has “a case to answer.”
Lloyd’s has also launched a market wide survey to assess the extent of the problem. It asks whether people who work at the market have witnessed bullying, harassment, discrimination or excessive consumption of alcohol. It also asks whether employees would feel comfortable reporting any problems to their superiors.
Lloyd’s management recently took action to force the insurers operating there to circulate the survey to their staff.