Everest Re signs onto UN Principles for Sustainable Insurance
Bermuda re/insurer Everest Re has become an official signatory of the UN Principles for Sustainable Insurance (PSI). It is one of 12 in the Bermuda and North American insurance sector to sign the framework, developed through a partnership between risk management leaders and the UN Environment Programme Finance Initiative.
“Everest is proud to be a signatory to the UN Principles for Sustainable Insurance and advance a responsible, inclusive culture that is governed by our purpose and values,” said Juan C Andrade, the company’s president and CEO.
“Today’s risk management landscape is dynamic, complex, and increasingly interconnected. We need more innovation across the entire value chain to meaningfully address climate change. Everest is committed to providing sustainable risk solutions that enable greater progress on this important issue.”
Signatories of the principles pledge to focus on embedding environmental, social and governance (ESG) issues into their company strategy and risk management procedures. They also commit to working with clients, suppliers, regulators, governments, and other key stakeholders to build awareness and drive action on ESG issues. Signatories submit to regular disclosure of progress in implementing the principles.
Everest was also among the earliest Bermuda-based re/insurers to become a signatory to the UN-supported Principles for Responsible Investment (PRI). As a result, nearly 79% of its total assets are managed by other UN-PRI members, including approximately 94% of its fixed-income assets, which accounts for most of its investment portfolio.
