CGNU has been placed second in a worldwide analysis of relative environmental performance among the top 21 global insurers.
CGNU has been placed second in a worldwide analysis of relative environmental performance among the top 21 global insurers.
The analysis was carried out by Innovest Strategic Value Advisors, a financial research firm based in New York, London and Toronto. It rated Swiss Re top in the study of the global insurance sector.
Innovest highlighted that increasing public concerns about environmental issues are causing a growing financial impact on business in general. The insurance sector has a lower impact on the environment than resource intensive sectors, such as mining. However, the sector does have significant direct and indirect impacts, which mean investors will be increasingly vulnerable to environmental risks in the sector.
In addition, investors will have greater ability to capitalise on a growing number of environmentally-related business opportunities in the insurance sector, by focusing investments on pro-active environmental performers.
CGNU is therefore acknowledged to be at the top end of performance in respect of this new business challenge.
Anthony Sampson, director of corporate social responsibility for CGNU, said: "Our record of performance is attributable to the dedicated efforts of hundreds of staff around the world, who have slowly, but surely, helped us achieve a solid programme to underpin our policies, which have been firmly backed by the Executive and Board. It is gratifying to see that this dedication receives external recognition from agencies such as Innovest, FTSE4Good and Dow Jones. Such recognition will play its part in enhancing our eligibility amongst the investor community."
Enquiries
Michelle Wolfe,
CSR Communications Consultant, CGNU
e-mail: michelle_wolfe@cgnu.net
phone: +44 (0)20 7662 7122
Notes to editors:
- CGNU is the UK’s largest insurance group, one of the top- five insurers in Europe and has substantial positions in other markets around the world.
- CGNU is the world’s seventh largest insurer based on gross worldwide premiums. CGNU’s principal business activities are long-term savings, fund management and general insurance, with worldwide premium income and retail investment sales from ongoing business of more than Ł28 billion, and over Ł200 billion of assets under management at 31 December 2001.