Lloyd's of London chief executive, Inga Beale, has been named at the top of the annual LGBT executives power list.
It is the first time a woman and a bisexual has topped the list by networking group OUTstanding and the Financial Times.
Suki Sandhu, chief executive of OUTstanding, praised everyone on the list for challenging stereotypes and stigma in business.
Qantas chief executive Alan Joyce finished second, and the head of HSBC in the UK and Europe, Antonio Simoes, was third.
"Those featured are an inspiration to anyone who fears that they may have to be closeted at work, and waste valuable effort muting their authentic selves," Ms Sandhu said.
Ms Beale said: "I am proud of the commitment of Lloyd's and the London insurance market to celebrate diversity and ensure we are an attractive, globally relevant and inclusive sector."
You can view the full list here.
OUTstanding also compiled an 'Allies' list, focusing on those who champion LGBT workers and diversity in their business. Facebook founder Mark Zuckerberg was placed at the top of the list, displacing last year's winner Sir Richard Branson.