”Our market is attractive to young people if you open the door to them”, said Sean McGovern, LMG chair.
A total of 30 London market firms will join an apprentice drive in a bid to attract young talent to a career in specialty insurance.
A statement from the London Market Group (LMG) said the new ”Apprenticeship Discovery” programme will aim to build a positive profile of the sector to 65 students over three days of market activities.
The long-term goal of the project is to shift the age profile of the London market, where more workers are aged over 50 than under 30, according to the LMG.
“Our market is attractive to young people if you open the door to them,” Sean McGovern, chief executive of UK and Lloyd’s at AXA XL and chair of the LMG, said.
“The power of market collaboration is demonstrated when you see firms across the London market coming together to showcase what we have to offer, with real job opportunities at the end of the programme.”
The initiative comes after LMG hosted its Future Academy in July this year, which saw 50 market firms and over 100 volunteers offer work experience to 115 17-18-year-old school students.
The new programme will be hosted by the EC3 re/insurance community and 100 volunteers will take part.
McGovern said three quarters of the firms participating in the event were getting involved for the first time, which would offer students more choice.
He added that 30% of students who attended in July have reapplied for the October programme.
”We hope to see many of our students choosing a long successful career within our industry and look forward to planning further events in 2024,” he added.