|Date joined:||13 May, 2022|
|Initiatives:||Principles for Sustainable Insurance|
Brief Overview of Organization
Aspen’s three business units – Insurance, Reinsurance, and Capital Partners – make us a leader in our fields, giving our customers support and confidence, and each has a unique set of capabilities to create advantages for our partners. Our core platforms, in the U.K., U.S., and Bermuda, are supported by strong balance sheets. They give us the grounding to build long-term relationships that we value by offering a footprint that meets our clients’ distinct requirements. From Syndicate 4711 at Lloyd’s of London, our experts also bring clarity to complex risks across a range of classes.
Summary of Sustainability Strategy
For Aspen to be successful and truly deliver on its vision to be a leading global specialty insurer and reinsurer, we recognize it is imperative that we make a positive impact on our environment, our communities, and all our stakeholders. We want to do this not only because it is the right thing to do for our planet, but it also will lead to better outcomes for Aspen, its people, its partners, and its investor. Our Environmental Social and Governance (ESG) Report outlines how we achieve this and incorporates an ESG-mind-set across how we do business globally. A key part of this strategy has been actively participating in the United Nations Sustainable Development Goals for the past two years, and now, we look to enhance our focus by becoming a signatory of the United Nations Environment Programme Finance Initiative (UNEP FI).
While ESG is not a new topic – the recent dangers related to climate change, the social injustices that exposure brings to companies, and the increasing importance of corporate governance – all of which is why we are excited to do our part and join the UNEP FI’s Principles for Sustainable Insurance Initiative (PSI).
The UNEP FI aligns with our underwriting philosophy of practicing responsible insurance in support of creating a more sustainable society, and it will help guide us on placing both purpose and resilience next to profit when considering corporate responsibility. As a signatory, we aim to embed the UNEP FI’s four principles across our value chain, partner with key stakeholders to raise awareness of ESG issues, and demonstrate accountability and transparency in the measurement of our success. Together with our company’s core Values and Behaviors and ESG strategic roadmap, the PSI initiative will be our North Star for sustainable underwriting principles, thereby aspiring to protect and positively impact our environment and global communities.
While we do not yet have all the answers and have significant work ahead of us, becoming a signatory of the UNEP FI is yet another important step in our journey to a more sustainable future.