HAYAH Insurance Company P.J.S.C.
Climate Impact & Sustainability Data (2022, 2023)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:31 MWh/year
Water Consumption:70 m3/year
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Governance, Transparency & Anti Corruption
- Data Privacy and Security
- Climate Risk and Energy Management
- Digitalization Initiatives
- Emiratization
- Occupational Health and Safety
- Diversity and Equal Opportunity
- Social Impact and CSR
- Sustainable Procurement Practices
Environmental Achievements
- Reduced energy consumption to 31 MWh in 2022
- Reduced water consumption to 70 cubic meters in 2022
- Reduced paper consumption to 15 kgs in 2022
Social Achievements
- Launched a fully digitalized life insurance solution, improving customer experience.
- Partnered with Policybazaar to expand customer reach.
- Maintained employee turnover at 11% for FTEs and 0% for contractors/consultants.
- 43% female representation in the workforce.
- Community investment initiatives through 'HAYAH Hearts in Action'.
Governance Achievements
- Ensured 75% of the Board of Directors are independent.
- Established three committees (Audit, Nomination & Remuneration, Investment) to enhance governance.
- Implemented a robust data privacy and security framework.
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Not disclosed
Environmental Challenges
- Not disclosed
Mitigation Strategies
- Not disclosed
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Not disclosed
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: ADX ESG Disclosure Guidance, Global Reporting Initiative (GRI)
Certifications: Null
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Sustainability efforts are aligned with the UN Sustainable Development Goals.
Sustainable Products & Innovation
- Fully digitalized life insurance solution.
Awards & Recognition
- Not disclosed
Reporting Period: 2023
Environmental Metrics
Total Energy Consumption:36.3 MWh/year
Water Consumption:70 m3/year
Waste Generated:10 kg/year (paper)
ESG Focus Areas
- Governance, Transparency & Anti Corruption
- Data Privacy and Security
- Climate Risk and Energy Management
- Digitalization Initiatives
- Emiratization
- Occupational Health and Safety
- Diversity and Equal Opportunity
- Social Impact and CSR
- Sustainable Procurement Practices
Environmental Achievements
- Reduced energy consumption to 36.3 MWh in 2023
- Reduced water consumption to 70 cubic meters in 2023
- Reduced paper consumption to 10 kgs in 2023
Social Achievements
- Launched a fully digitalized life insurance solution, improving customer experience and efficiency.
- Maintained employee turnover at 11% for FTEs and 0% for contractors/consultants in 2022.
- 44% female representation in the total workforce, 36% in senior management, and 44% in middle management in 2023.
- 13% Emiratization rate in 2023.
Governance Achievements
- 88% of the Board of Directors are independent.
- Established four committees (Audit, Nomination & Remuneration, Investment, and Risk) to enhance governance.
- Implemented a robust data privacy and security framework with a three-lines-of-defense model.
Climate Goals & Targets
Environmental Challenges
- Net loss of AED 4.3 million in 2023 compared to a net profit of AED 3.3 million in 2022.
- 13% decrease in net underwriting income in 2023.
- 32% increase in operating costs in 2023.
Mitigation Strategies
- Optimally managed operating costs.
- Increased business volume despite tough market competition.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: ADX ESG Disclosure Guidance, Global Reporting Initiative (GRI)
Sustainable Products & Innovation
- Fully digitalized life insurance solution