AGCS research study: “The predictive power of ESG for insurance”

Expert Risk Articles

Identifying, understanding and managing risks are at the core of the insurance industry. All risks have various dimensions, but the environmental, social and governance (ESG) profile of a risk is a dimension that has only recently found its way into risk analysis in the industrial insurance segment.

Compared with other types of perils, such as financial risks, the understanding of the relevance of ESG issues and their practical application for insurance is still in its infancy. To bridge this gap, Allianz Global Corporate & Specialty (AGCS), together with The Value Group, a Munich-based research and investment consultancy, initiated a research project to assess the relevance of ESG for industrial insurance. The project is supported by Prof. Dr. Klaus Röder, Chair of Financial Services from the University of Regensburg and  Prof. Dr. Rudi Zagst, Chair of Financial Mathematics from the Technical University of Munich.

“It is the first time, that research provides evidence of the relevance of ESG information for industrial insurance, helping to identify companies that have a better risk management performance than their peers”, says Michael Bruch, Head of Emerging Trends and ESG, AGCS. “Not surprisingly, the better a company’s’ ESG performance is, the lower the probability of it experiencing incidents such as workforce-related accidents, being involved in reputation-damaging controversies or being fined by regulators or government bodies.”

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