Women hold just one in five senior UK insurance jobs, even though most companies have diversity strategies, according to the Association of British Insurers (ABI).

The association surveyed more than 82,000 staff about talent and diversity in the insurance and long-term savings sector.

It found 78% of companies have diversity and inclusion strategies in place, while 74% have an executive sponsor for diversity and inclusion.

About 73% of companies have an executive or management development program that prioritises gender balance. Some 78% have provided unconscious bias training for staff, and 33% have a program to help new parents return to work.

The survey shows the sector’s workforce is 16% black, Asian or ethnic minority, compared with 14% in the UK working age population.

But despite a 50-50 split on gender across all levels of the workforce, women hold only 21% of executive and 21% of board positions.

ABI Director-General Huw Evans says more must be done to address this imbalance.

“Warm words and good intentions are not enough when it comes to addressing a lack of diversity within the insurance and long-term savings industry,” he said.

 “I know from my own conversations with industry leaders that there is a great determination at the very top of our member firms to tackle this issue.”