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Acorn Insurance Limited

Gender Pay Gap

The Gender Pay Gap is the difference between the average pay for men and women in that organisation. All companies who employ more than 250 staff are required to report their Gender Pay Gap by 4 April 2019.

The Gender Pay Gap should not be confused with Equal Pay which means women and men receiving the same pay for doing the same job. Gender pay reflects the type of jobs women and men carry out and highlights how well or otherwise women progress in an organisation.

Acorn Insurance Limited Employees

During the year in question Acorn Insurance had 453 employees, of these 234 (52%) were men and 219 (48%) women.

Our Gender Pay Gap

Our Gender Pay Gap reported within this document is based on those employees who worked for the company as at 5 April 2018 and are based on earnings figures for the year to 5 April 2018.

Regulations require that we report the mean and median hourly pay gap between men and women.

PayMeanMedian
Hourly9.0%2.8%

We are also required to report the mean and median bonus gender pay gap between men and women:

PayMeanMedian
Bonus21.8%28.1%

Together with the proportions of male and females employed who receive a bonus:

PayMaleFemale
Bonus71.8%62.1%

We also are required to detail the proportion of male and female workers in each quartile based on there hourly rate:

MaleFemale
Upper Quartile55.3%44.7%
Upper Middle Quartile54.0%46.0%
Lower Middle Quartile64.0%36.0%
Lower Quartile46.9%53.1%

Summary

The company is a proud equal opportunity employer, with an overall relatively equal split of male to female employees across all wage quartiles, noting that the lower and lower middle quartile have very similar overall wage.

These figures have shown slightly more men occupy roles which have the potential for earning a bonus so overall bonuses are paid both more often to men than women.

Conclusion

I confirm that the data and statements in this report are accurate and are presented in accordance with the regulations.
 
 
Nikki Keating, Director
4 April 2019