Way too much micro management, more trust of the (for the most part) very talented associates is needed. Some nasty office politics from some (but not all) management. Working my notice was not a pleasurable experience.
A lot of 'deadwood' in senior management, who are paid a fortune for doing not very much, but the talented middle management don't dare make a noise for fear of hurting their own promotion chances.
It is expected of you to work long hours or take work home to get everything done, and this is seen as the norm and perfectly acceptable on a daily basis. Work / Life balance is poor and new staff are only brought in when existing teams are at absolute breaking point.
Insane bureaucracy that's incredibly outdated. MRC slips and cover notes for policies that are a couple of hundred quid is just bonkers and wastes so much time.
Some (but not all) of the systems are very outdated, and it has woefully poor IT generally for such a large company.
Training is poor for new starters because no one has the time to do it. It's not a good place to start an insurance or broking career.
You're won't be employed if you're a married woman at or near child bearing age. How this happens in 2014 I have no idea. More diversity is definitely needed.