From: Captive International
Robert Eigenheer, group treasurer at Swiss Federal Railways, provides a five-step guide on how to make sustainable insurance work to your best advantage.
What is sustainable insurance? According to the United Nations Principles for Sustainable Insurance launched in 2012, sustainable insurance is a strategic approach where all activities in the insurance value chain, including interactions with stakeholders, are done in a responsible and forward-looking way by identifying, assessing, managing and monitoring risks and opportunities associated with environmental, social and corporate governance (ESG) issues.
Sustainable insurance aims to reduce risk, develop innovative solutions, improve business performance, and contribute to environmental, social and economic sustainability at the same time. The insurance sector has achieved significant progress in adapting its investment portfolios and that is the basis we leverage for a practical approach to support target achievement in underwriting activities as well.
By the end of August 2024, in collaboration with AXA XL, Helvetia Insurance and Zurich Insurance, Swiss Federal Railways (SBB) and its captive SBB Insurance launched the world’s first sustainability-linked reinsurance project with the aim of integrating sustainability into its underwriting activities.
