Country for PR: United Kingdom
Contributor: PR Newswire Europe
Tuesday, June 07 2022 - 21:00
Geneva Association General Assembly appoints 4 new Board members; organisation highlights sustainability as top priority for the insurance industry as it becomes a supporting institution to UNEP-FI's Principles for Sustainable Insurance
ZURICH, June 7, 2022 /PRNewswire-AsiaNet/ --

Following The Geneva Association's 2022 General Assembly last week, the 
organisation announces two key developments:

- The election of four new members to its Board of Directors: Lard Friese, CEO, 
Aegon; Xi LUO, Chairman, People's Insurance Company of China; Hiroshi Shimizu, 
President and CEO, Nippon Life; Peter Zaffino, Chairman & CEO, AIG.
- The Geneva Association's joining the United Nations Environment 
Programme-Finance Initiative (UNEP-FI) Principles for Sustainable Insurance 

The Geneva Association's 49th General Assembly brought together 57 global 
insurance CEOs over 2–3 June in Venice, Italy. Titled Building Bridges to a 
More Sustainable Future, the event explored how global challenges, from climate 
change to economic volatility, are impacting the insurance industry and how 
insurers can best support society in navigating these crises.

Recent shocks like the COVID-19 pandemic and war in Ukraine have catalysed 
institutions to hone their ESG agendas for maximum impact. General Assembly 
discussions highlighted that for insurers, this means

- Increasing resilience to climate change by combining mitigation efforts and 
adaptation measures, incentivising risk reduction and providing disaster relief 
through insurance coverage
- Promoting not only environmental but also social sustainability across 
underwriting, investments and operations
- Tackling protection gaps so that a greater number of people, especially in 
the most vulnerable contexts, can access insurance coverage
- Promoting individuals' physical, mental and financial wellbeing through 
innovative products and services

Christian Mumenthaler, Chairman of The Geneva Association and CEO of Swiss Re, 
said: "Discussions at our General Assembly revealed that geopolitical tensions, 
economic volatility, social inequality and climate change are key concerns for 
us all. I am pleased that The Geneva Association has become a supporting 
institution of UNEP-FI's Principles for Sustainable Insurance, reinforcing that 
sustainability – the E, the S, and the G – is a central issue for the industry.

I also warmly welcome Lard Friese, Xi LUO, Hiroshi Shimizu and Peter Zaffino to 
the Geneva Association Board of Directors. As representatives of Europe, China, 
Japan and the United States, their views will be instrumental to ensuring our 
agenda captures the priorities of insurers around the globe."

Jad Ariss, Managing Director of The Geneva Association, commented: "The 
challenges before us, as an industry and as a society, require coordinated 
thinking and action. Our annual meeting was a powerful platform for 57 of our 
member CEOs around the world to align, particularly on their social and 
environmental ambitions. Sustainability is clearly the dominant priority for 
insurance companies and their customers today. We are proud to become a 
supporting institution to the UNEP-FI PSI."

The Geneva Association is the only global association of insurance companies; 
its members are insurance and reinsurance CEOs. Based on rigorous research 
conducted in collaboration with its members, academic institutions and 
multilateral organisations, The Geneva Association investigates key risk areas 
that are likely to impact the insurance industry, develops recommendations and 
provides a platform for stakeholders to discuss them. In total, the companies 
of Geneva Association members are headquartered in 26 countries around the 
world; manage USD 21 trillion in assets; employ more than 2.5 million people; 
and protect 2.6 billion people.

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Source: The Geneva Association