ESG

The carrier has also disclosed carbon emission breakdowns across its underwriting portfolios, as well as D&I figures for its workforce, in an ESG report.

Shareholders approved a second proposal asking for a report detailing how Chubb is addressing greenhouse gas emissions.

Capgemini’s report said insurers needed to embed climate strategies into operating models and fundamentally change data strategy.

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The expectation that we would be talking about the slowing of the brokerage supercycle proved to be misplaced.

The new Coaction has also converted to a public benefit corporation (PBC), making it the first commercial P&C insurer to do so.

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Through the collaboration, the two companies will work together to help clients with their investment strategy decisions by providing data sets, analytics and insights into ESG portfolio-level exposures.

Chubb has also received demands from shareholders for more information on its climate-related policies.

Chubb and Travelers are targeted as “climate laggards” by a shareholder group that wants the insurers to step up monitoring the impact of underwriting and investment activities.

The council comprises Cindy Bruyère, Henk Dijkstra, Kenneth E Kunkel and Park Williams.

Carriers are planning to increase their allocation most significantly to private equity (44%) and green or impact bonds (42%).