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In Episode 1 of Voices of Change: Women Transforming Capital & Risk, released as part of Argenta’s International Women’s Day celebrations, APCL’s Marnie Hunter sits down with Belinda Schofield, Chief Executive of the Association of Lloyd’s Members.
This episode explores the evolution of capital invested at Lloyd’s of London through the lens of someone who has witnessed its transformation firsthand.
Listen to the episode below:
Belinda began her career in the 1980s as a City lawyer, at a time when the market looked very different – capital was provided by thousands of individual “Names” underwriting on an unlimited basis, leadership roles were overwhelmingly male, and visible female role models were few and far between.
From those early days to today’s more diverse environment, Belinda reflects on the cultural and structural shifts that have reshaped the industry. The conversation touches on the impact of regulatory reform following the 2008 global financial crisis, diversity targets, the gender pay gap and the broader push for stronger governance and inclusion across financial services.
A key theme of the conversation is access to capital, the importance of networks and providing opportunities. As Chief Executive of the ALM, Belinda shares how the organisation is working to support both established and prospective investors, including through its NextGen+ initiative. Designed to engage not just the next generation of existing members but also active professionals across financial advisory, asset management, tax and legal sectors, regardless of their backgrounds, NextGen+ aims to demystify investment at Lloyd’s. Through education, open dialogue and networking, it creates space for new voices and importantly, encourages women to be a part of the conversation.
Belinda also offers practical advice for women navigating complex investment environments or challenging career moments: don’t be daunted by technical language or legacy perceptions. The capital side of Lloyd’s, like any specialist financial market, becomes accessible with knowledge, mentorship and confidence. Increasingly, talented women are not just participating in the market – they’re shaping it.
Looking ahead, the discussion turns to the future of private capital at Lloyd’s. With rapidly evolving innovation in capital structures and growing recognition of the value of long-term, engaged investors, Belinda sees real opportunity for a new generation – including more female investors and leaders – to influence the next chapter of the market’s story.