The Association of British Insurers (ABI) has claimed that there aren't enough women in the boardroom, reports guardian.co.uk.
It claims that despite boardrooms becoming more equal in recent years, companies need to do more to ensure equal representation of the sexes.
The ABI said a well-rounded company will also boost company performance on a long-term basis and help it in navigating through uncertainty.
A representative for the facility told independent.co.uk: "A board that is diverse in its composition is more likely to make better decisions and break down the tendency towards group think."
They continued: "Not only do board members with different perspectives challenge the status quo, they also introduce multiple views on the risks, consequences and possible implications of any board decisions."
It is reported that only 6.6 per cent of FTSE 100 executives are currently female. This is despite measures brought in my the Government to try and rectify the situation.
The situation is even worse for FTSE 250 executives, with only 4.9 per cent of executives in the boardroom women.
However, latest statistics show there has been an improvement; with a 26.1 per cent rise for women being appointed to FTSE 100 companies, and a 30.6 rise for females on FTSE 250 boards in the last year.