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WTW study finds developing ESG strategy a key focus for risk managers
7th December 2022
A recent WTW survey reported that more than half of risk managers are significantly involved in their organisation’s ESG efforts, though 77% believe they should take a more active role in ESG strategy and initiatives. In WTW's 2022 ESG Global Risk Managers Survey, which includes 312 corporate risk managers worldwide, one-third ... Read the full article
Howden & Fidelis study shows ESG ratings lead to improved underwriting
2nd December 2022
A joint study between international insurance broker, Howden and leading specialty insurer and reinsurer, Fidelis, shows that higher ESG ratings lead to better underwriting performance. The study of loss ratios across 30,000 policies from both Howden and Fidelis’ datasets, comprising a premium value of around $9 billion against third party ESG ... Read the full article
Aon highlights how captives can drive positive ESG outcomes
29th November 2022
A recent Aon report has highlighted how using a captive insurance company can drive positive ESG outcomes, alongside how the UN Environment Program’s Principles for Sustainable Insurance can aid captive owners to address ESG risks and opportunities. Aon notes that despite variations on the traditional captive definition, all types of captives ... Read the full article
MS Amlin unveils new, three-year ESG strategy
17th November 2022
MS Amlin has said it is laying out a three-year sustainability roadmap in order to embed ESG into its business operations. According to the firm, the Sustainability Strategy sets out the steps which the company will take over the next 36 months and provides multi-point plans for how it will embed ... Read the full article
Three-tier approach recommended for insurers to manage social sustainability
14th November 2022
Since its launch by the United Nations (UN), the ESG (Environmental, Social and Governance) movement has grown into a global phenomenon that is reshaping the asset management and broader business landscape. According to a recent report by The Geneva Association, despite the triumphant march of ESG, companies, investors and the public ... Read the full article
ESG to increasingly influence insurers’ strategies, says Fitch
7th November 2022
Insurers’ underwriting and investment strategies in the coming years will be increasingly influenced by ESG considerations, suggests a report from Fitch Ratings. P&C insurer's large weather-related losses highlight the growing environmental physical risks many experts link to climate change, explains Fitch. Therefore, in response, the rating agency expects P&C re/insurers to increase ... Read the full article
Marsh names Charles Sincock as ESG Strategy Leader in UK Advisory business
1st November 2022
Insurance broker and risk advisor, Marsh, has announced the appointment of Charles Sincock as ESG Strategy Leader within its UK Advisory business. Sincock joins Marsh from Capco where he was the global ESG delivery lead and UK ESG lead. He began his financial services career as an M&A banker at Dresdner ... Read the full article
Lipman outlines opportunities for development in Lloyd’s Canada market update
12th October 2022
Marc Lipman, Attorney in Fact in Canada for Lloyd’s Underwriters and president of Lloyd’s Canada, provides a market update outlining opportunities for growth and development in the region's (re)insurance sector. At the end of 2021, premium income to Lloyd’s from Canada grew by 22%, with Lipman noting that Lloyd's underwrote over ... Read the full article
Protecdiv launches industry tool to model “social” component of ESG
10th October 2022
Re/insurance broker Protecdiv has launched a tool designed to measure and report the “social” component of ESG on the liability side of a balance sheet. Protecdiv states that SERV-S, the Social Equity Risk Vector Score, provides a score for commercial property, residential property, and mortgage re/insurers to quantify the social element ... Read the full article
ESG factors to play a larger role in the future of underwriting
5th October 2022
Leading insurance broker Marsh has released data from a survey of 30 insurers representing a significant cross-section of the UK insurance market, exploring how ESG factors are being used to assess clients’ risk profiles and the extent to which this trend might accelerate. The survey found that all respondents confirmed that ... Read the full article
Verisk launches new Industry Risk Analytics to expand capabilities
15th September 2022
Verisk Maplecroft, a global risk analytics business of Verisk, has launched its new Industry Risk Analytics to provide companies, insurers, and financial institutions with a new geospatial risk solution. The Industry Risk Analytics are the latest innovation from Verisk Maplecroft as it strives to provide global business and finance with a ... Read the full article
D&O insurers “offer better coverage to businesses with robust ESG” – Marsh
4th July 2022
Marsh has announced several enhancements to its directors and officers liability (D&O) insurance offerings that it says could enable more clients to benefit from superior environmental, social, and governance (ESG) frameworks. The company says there is now a greater willingness among D&O underwriters to recognise organisations with strong ESG ... Read the full article
Materiality of ESG factors beneficial for insurers
28th June 2022
Environmental, social and governance (ESG) factors are material for insurers to consider, act on, and transparently report according to panellists speaking at the S&P insurance conference. Yafit Cohn, chief sustainability officer, and group general counsel for The Travelers Cos. Inc., and Maryam Golnaraghi, director of climate change and environmental topics at ... Read the full article
Beazley to offer additional capacity to ESG compliant clients
28th June 2022
Marsh has announced that specialist insurer Beazley is to offer global access to additional capacity to clients that opt in to its Environmental, Social, and Governance (ESG) Risk Rating. Launched in March, Marsh’s ESG Risk Rating is an assessment tool that can measure an organisation’s ESG performance, ... Read the full article
Allianz invests in sustainability data firm ESG Book
24th June 2022
Allianz has been confirmed as among the investors participating in a recent Series B funding round for ESG Book, a global provider of cloud-based sustainability products and solutions. The data and technology firm raised $35 million in the funding round, which was led by investment firm Energy Impact Partners (EIP), alongside ... Read the full article
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