ESG landmark for Guernsey insurance market

The Guernsey International Insurance Association has awarded its first environmental, social and governance accreditation for an insurance entity to Dunant Re IC Limited – an incorporated cell of Replexus ICC (Guernsey) Limited, managed by Aon Insurance Managers (Guernsey). The GIIA’s ESG framework was launched earlier this year.

Cedric Edmonds, founder and director at Replexus ICC, said: “I am delighted that the Red Cross-sponsored Dunant Re is the first entity to receive GIIA's ESG kitemark and I hope, for the good of our world and generations to come, that this is merely the first of very many companies to receive this honour.”

Mark Elliott, chair of the GIIA, added: “GIIA is delighted with the response received from members in relation to our ESG Framework. This announcement of the first accredited entity under the framework is a testament to our ambition to position ourselves at the forefront of ESG standards. The time for real action and transparency is here and we congratulate the Red Cross, Dunant Re and Aon Insurance Managers on their achievement.”

To achieve the accreditation insurance entities must embed ESG within the decision-making and governance structure and show that the risks underwritten contribute to achieving the UN’s sustainable development goals. The investments held also have to contribute towards achieving these goals. In addition, the insurer must publicly disclose how it has met the framework’s requirements.

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