Client and industry interaction

Efforts to address environmental and social risks are obviously more effective when many companies join forces. This is why we are keen to further promote sustainability risk management within the re/insurance industry.

In 2015, our sustainability risk management unit decided in 24 SBR assessments to proceed with conditions. In most cases, these conditions required the particular underwriter to engage with the client on specific questions about environmental protection or human rights issues. In line with the Ruggie Framework on corporate respect for human rights, we strive to address such issues when we spot them and raise them with our clients.

On an industry-wide basis, we have played a major role in establishing and advancing the Principles for Sustainable Insurance (PSI) introduced in 2012 by the UN Environment Programme Finance Initiative, UN EPFI ( We were one of the initiative’s original signatories and currently act as one of its board members. The PSI address environmental, social and governance (ESG) issues in the re/insurance industry, spanning risk management, underwriting, product and service development, claims management, sales and marketing, and investment management. Our Public Disclosure of Progress for 2015 is included in this report in “PSI – Our public disclosure of progress”.

In 2015, we partnered with the UN Environment Programme (UNEP) to co-host a roundtable on “Insurance 2030: Policies and partnerships for sustainable development” at our Centre for Global Dialogue near Zurich. Around 60 leaders and executives from re/insurance companies and regulatory bodies, the UN, governments, think tanks and civil society reflected on the policies and partnerships needed to realise the full potential of re/insurance in promoting sustainable development. The roundtable underscored the importance of systemic responses, integrated approaches and collaborative efforts. Key insights were later presented in the landmark report “Insurance 2030: Harnessing insurance for sustainable development”.