Sustainability

As a responsible (re)insurer we have an ongoing sustainability commitment, that aligns our broader societal responsibilities with our commercial ambitions.

We recognise that working hard to provide contributions to the communities within which  we operate, we can help create a sustainable and stable future for our clients, people and partners, to help secure mutual success.

This is why we define sustainability as “Meeting the needs of the present generation without compromising the ability of future generations to meet their needs”.

As a global (re)insurer we are acutely aware of our place in the world and the responsibility we have to take decisive action to help tackle increasingly complex problems. We see these challenges as a catalyst to stimulate innovation and commercial longevity, strengthening collaborative efforts towards a sustainable and resilient future.

Our sustainability strategy focuses on underwriting complex risks. Executed in the right manner, and by drawing on our expertise, this strategy will strengthen collaborative efforts towards building an inclusive, sustainable and resilient future.

By (re)insuring clean energy installations, schools, hospitals, water sanitation plants, charities and NGOs, and promoting the use of decarbonisation technology where appropriate, we are well positioned to support sustainable economic development.

 

Our strategy is wholly aligned with our parent company’s missionto contribute to the development of a vibrant society and help secure a sound future for the planet, by enabling safety and security through the global insurance and financial services business”. 

To understand our approach to sustainability in a little more detail, click the tabs below

Our Sustainability Strategy sets out the steps we will be taking over the next 36 months and provides multi-point plans for how we will embed ESG criteria and monitor performance effectively. This will support our commitment to minimise the environmental impacts of our operations globally, while also building out more robust social and governance practices.

More broadly, our Sustainability Strategy aligns business strategy with our parent company’s vision. Equally, it will address an increased appetite from our clients looking for support on sustainability as they navigate the transition to net-zero, respond to changing weather risks and evolve their business models.

The sustainability strategy supports our business plan and underpins the company’s broader ambitions of creating long term enterprise value by doing the right thing, rather than the easy thing, and implementing a responsible underwriting approach. 

UN Sustainable Development Goals

We have adopted the UN Sustainable Development Goals (UNSDGs), which is an established global framework developed to achieve business outcomes AND improved sustainability.

We recognise that all of the UNSDGs are relevant to our business, which is why we asked our people to select priority UNSDGs, which align most closely with our business and where we are uniquely position to make a positive impact. Our people selected:

 

UNSDG 13 – Climate Action 
Significant risk to our planet and our business model. We are well placed to influence the transition to net zero through a combination of advice, risk selection and pricing decisions, and product development. We are is also well placed to respond to climate risk through the provision of catastrophe (re)insurance.

 

UNSDG5 – Gender Equality
Investing in women and girls is a driver for profound and positive change and key to tackling environmental and societal issues. We have the ability to support women in the business directly and to consider how this priority could be reflected within underwriting decisions.

 

UNSDG 9 – Industry, Innovation and Infrastructure 
As an insurer of industry and infrastructure, we are well placed to support the development of clean and green infrastructure that supports inclusive societies; this includes renewable energy installations, electric grids, clean transport, schools, hospitals and water sanitation plants.

As well as ensuring we are well placed to fulfil our regulatory and other committed obligations, our governance arrangements facilitate:   

  • Harmonising employee & client propositions, helping to embed sustainability within our commercial philosophy
  • Encouraging a more coordinated approach to decision making, which incorporates sustainability considerations

Our Board

  • Provides ultimate oversight of material sustainability related risks and opportunities, including climate, and approves our Sustainability Strategy.

Our Exco

  • Reviews and challenge the design and implementation of our Sustainability Strategy, receiving updates throughout the year and incorporating  sustainability considerations within strategic decision making.

Our Sustainability Committee

The purpose of the Sustainability Committee is to help MS Amlin Unnderwriting Limited to be a responsible, resilient and sustainable business. In doing so, it will:

-       Support the embedding of sustainability within our commercial philosophy by harmonising internal employee & external client propositions

-       Ensure we are well placed to fulfil our regulatory and other committed, sustainability related obligations

-       Encourage a more coordinated approach to decision making, which incorporates sustainability considerations.