Two thirds of Swiss insurers have sustainability strategy

Written by Adam Cadle

17/09/2024

Two thirds of Switzerland’s insurers already have a sustainability strategy in place, according to the Swiss Insurance Association’s (SIA) latest sustainability report.

The report stated that a further 20% of insurers are planning to introduce a sustainability strategy.

Where a strategy already exists, a net-zero target is usually also in place. This is already true for 61%, and is planned for a further 35%. In 90% of the cases, this target relates to capital investments, followed by own business operations at 82%. In just under 55% of cases, insurance portfolios are also included in the net-zero target.

To measure progress in the area of sustainability and make it transparent, more than two thirds of the insurers surveyed report on their sustainability efforts. Guidelines play a major role as a reference and for exchanging best practice: 43% of insurers surveyed use them already, while a further 22% are planning to do so. The Global Reporting Initiative (GRI) is the most significant of these.

Beyond sustainability reporting, insurers are also guided by common guidelines and recommendations when integrating sustainability aspects. In Switzerland, insurers accounting for 80% of the total premium volume have signed at least one of the Principles for Responsible Investment (PRI) or the Principles for Sustainable Insurance (PSI).

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