Aegon has been placed 2nd in a new ranking of how the largest life and health insurers are responding to responsible investment and underwriting.
Aegon's ranking is based on an 'A' rating in the latest report by responsible investment charity ShareAction. This year's report has broadened its scope to include biodiversity loss, climate change and human rights, reflecting the emergence of these as prominent ESG issues. In its previous report in 2018, the focus was solely on climate change and Aegon was ranked 6th.
Frans de Beaufort, Aegon's Global Head of Corporate Sustainability, said: "While we are under no illusion that more needs to be done, our performance in this latest ranking indicates that we are on the right track."
ShareAction seeks to promote responsible investment and to improve how large corporates act in relation to environmental, social and governance issues.
The latest report looks at the 70 biggest global insurance companies and assesses how they are responding to responsible investment and underwriting risks, opportunities, and impacts. The research has resulted in the publication of two separate rankings on May 26, 2021. One ranking features companies that operate a property and casualty insurance business. The other ranking – which includes Aegon – covers insurers that underwrite life and health insurance.
The rankings use rating bands, ranging from AAA to E, based on the distribution of scores. The rankings also feature a heat-map of performance across the assessed themes: governance, climate change, biodiversity, and human rights.