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Greater than 90% of insurers have carried out environmental, social and governance (ESG) issues of their funding course of, with 80% implementing them inside the final two years, in keeping with a brand new survey of the business by world funding administration agency Conning.
The report, ESG – The Firms Communicate: Insights from Conning’s ESG Survey of Insurers, supplied knowledge and evaluation from 280 responses to a survey of US insurance coverage executives and higher administration from a wide selection of firms. Respondent firms represented all sizes, possession constructions and enterprise focuses, Conning mentioned. The survey explored the affect of forces and stakeholders on firms, and actions firms had been taking over the ESG entrance.
The survey discovered that insurance coverage administration groups reported a big spike in ESG engagement.
“This implies that ESG has turn into a key space that insurers are working to include into their companies,” mentioned Terence Martin, director of insurance coverage analysis at Conning. “Nonetheless, there are key variations between life-annuity and property-casualty firms, and between public inventory and mutual-fraternal firms.”
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“This survey signifies that, whereas the US insurance coverage business is clearly conscious of, and specializing in, ESG, but at this level, firms are following their very own paths to ESG integration,” mentioned Scott Hawkins, head of insurance coverage analysis at Conning. “This isn’t shocking given the variety of the US insurance coverage business. The one space of exception the place there’s extra consistency throughout several types of insurers seems to be in funding administration.”
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