The insurance industry is the least popular financial services employer among young women, according to a global study from PricewaterhouseCoopers (PWC).

Most female “millennials” – born between 1980 and 1995 – believe it is too difficult for them to build careers with insurance companies, the report says.

“It would appear insurance has particular issues to overcome. Female millennials in financial services believe insurers are doing less to promote equality, and more feel promotion is biased towards men in insurance than in other financial services sectors.”

The survey of 8000 young women around the world finds 80% believe insurance businesses do not provide equal opportunities; 64% of young women in insurance say their employer is not doing enough to encourage diversity; 30% feel women are given fewer opportunities to undertake international assignments in the insurance industry; 13% would not work in insurance because of its image.

Insurance may be the least desirable industry, but it is not alone in its problems.

Limited career opportunity is the No.1 reason female millennials leave their jobs in financial services, the report says.

PWC UK insurance partner Jonathan Howe says female millennials are entering the workplace in larger numbers than ever and come with their own set of career expectations.

“This [report] should serve as a wake-up call to… the insurance sector to bring diversity policies to life, re-evaluate how it develops people and create a structure where women can thrive,” he said.

“Having visible female role models at all levels of an organisation will be an important step to show employees and potential employees that leadership positions are achievable for all.”