U.S primary insurer Liberty Mutual has become a signatory of the United Nations-supported Principles for Responsible Investment (PRI).
Liberty Mutual is the first US Property and Casualty insurer to join the international network of institutional investors committed to including ESG factors in their investment decision making.
Liberty Mutual Chief Investment Officer Neeti Bhalla Johnson said: “As a leading global company, we are in a unique position to make lasting change for our industry and our communities.
“We are joining the PRI in addressing some of the most pressing ESG issues facing the world today, from climate change to the barriers around a more sustainable financial system, leading to prosperous and inclusive societies for future generations.
“We are proud to take this bold step forward as the first U.S. P&C insurer to become a PRI signatory and make this commitment to play an active role through responsible investing.”
Fiona Reynolds, Principles for Responsible Investment Chief Executive Officer added: “We are very pleased to welcome Liberty Mutual as the first U.S. P&C insurer PRI signatory. In joining PRI, Liberty Mutual is recognising the importance of incorporating ESG factors into its investment and ownership decisions.
“More broadly, the insurance sector is playing an increasingly visible role in sustainable investing, and we hope other insurers in the U.S. will follow Liberty Mutual’s lead in its commitment announced today.”
PRI is for insurers to understand the implications of sustainability for investors and support signatories to incorporate ESG factors into their investment decision-making and ownership practices.
As a signatory, Liberty Mutual has committed to incorporate the PRI’s set of six investment Principles that suggest possible actions for incorporating ESG factors into investment practice.