Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Governance
• Social
• Economic Growth
• Sustainable Business Solutions

Environmental Achievements

• Initiated GHG emissions accounting in its operations.
• Set a goal to achieve net-zero carbon emissions by 2060.
• Recycled 1900 kgs of paper waste.
• Actively participated in environmental initiatives such as cleaning beaches and forests and recycling.

Social Achievements

• Launched online sales of insurance products.
• Implemented an emerging leadership program.
• Provided 100% of new joiners with Code of Conduct training.
• Achieved approximately 40% female employees at the Group level.
• Zero cases of discrimination reported.
• Conducted 17 outreach programs for customer health and safety.
• Supported Afya initiative, providing health insurance to Kuwaiti retirees.
• Sponsored various community events and initiatives (sports, education, etc.).

Governance Achievements

• Established a Sustainability Steering Committee.
• Signed the United Nations Global Compact (UNGC) commitment.
• Conducted an ESG Risk Assessment.
• Implemented a comprehensive Risk Governance model.
• All internal audit and compliance teams certified by globally recognized international associations.
• 100% of operations covered by ISO 27001.

Climate Goals & Targets

Environmental Challenges

• Climate change impact on insurance products.
• Cybersecurity risks due to digital transformation.
• Raising awareness on information security risks and creating acceptance to new procedures.

Mitigation Strategies

• Evaluating and realigning products to support climate vulnerabilities.
• Investing in improving cyber security resilience (ISO 270001 certifications, CIS Controls Version 8).
• Training employees on ISO 27001 Lead Auditing course.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Weather-related natural catastrophes

Opportunities

• Green insurance products

Reporting Standards

Frameworks Used: GRI Universal Standards (2021) – in reference option, SASB, UN Sustainable Development Goals (UN SDGs)

Certifications: ISO 27001

Third-party Assurance: Nexia International

Sustainable Products & Innovation

• Green insurance products

Awards & Recognition

• 2022 Insurance Brand of the Year MENA
• Best Investor Relations Company (Insurance)–Kuwait 2022
• Best Insurance Group MENA 2022
• Most Sustainable Insurance Group, MENA 2022
• Best General Insurance Company MENA 2022
• Brand of the Year 2022-23
• Most Admired Insurance Brand, MENA
• Most Diversified Insurance Group MENA 2022
• Best Investor Relations Co. (insurance) Kuwait 2021
• Most Sustainable Insurance Group in the MENA
• Most Reliable Insurance Company
• CSR Excellence and Dedication to the community in Kuwait
• Best Insurance Company for Customer Service Quality
• General Insurance Company of the Year
• Insurance Brand of the Year, Kuwait
• Decade of Excellence, Insurance MENA
• Most Innovative Insurance Solutions Provider, MENA 2020
• Most Innovative Insurance Software Product of Turkey 2020

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Launched a comprehensive Environmental Program for a sustainable future.
• Released its inaugural Environmental, Social, and Governance (ESG) report, becoming the first insurance company in Kuwait to do so.
• Initiated GHG Calculation Initiatives.
• Reduced water consumption by 50% in UAE, Oman & Bahrain offices by installing water saver devices.
• Implemented a Zero Plastic policy, removing all plastic from pantries.
• Decreased printed paper usage through digitalization and used 100% recycled office paper.
• Organized beach cleaning initiatives.

Social Achievements

• Launched GIG Battle Fitness Festival.
• Supported Kuwait University students' biofuel project.
• Supported breast cancer patients with clay therapy sessions.
• Supported Teddy Bear Initiative.
• Organized a blood drive.
• Supported Kuwait Association for the Care of Children in Hospital (KACCH) and Bayt Abdullah Children Hospice (BACCH).
• Sponsored the 18th Kuwaiti Conference of Surgeons.
• Supported Dhuwa Al Yaddah Center.
• Supported the Gulf Forum for Waste Management and Recycling.
• Supported the Fourth Gulf Sports Games.
• Partnered with Fawzia Sultan Healthcare Network for Run Kuwait.
• Participated in the first safety and civil protection conference.
• Collaborated with Novartis on a cardiovascular awareness campaign.
• Supported Bahrain Polytechnic with computer donations and funding.
• Organized an on-site dental checkup for staff.
• Partnered with Bahrain Institute of Banking and Finance (BIBF) to host the “Sustainable Insurance Forum”.
• Organized a blood donation campaign.
• Partnered with the Ministry of Health and Kimshealth Medical Center to raise awareness about breast and prostate cancer.
• Offered a summer internship program.
• Launched a Staff Well-Being Program.
• Organized an entertainment day for children of Al-Sanabel Association for Orphan Care.
• Supported the Hult Prize conference.
• Donated to the King Hussein Cancer Foundation.
• Participated in the “dual studies” event.
• Signed a collaboration agreement with The National Children’s Museum Society.
• Donated medicine to the Hashemite Charity Organization.
• Carried out a tree-planting campaign.
• Sponsored “Open Track Day – Porsche Club”.
• Participated in the “Promise for a Better Future” campaign.
• Cooperated with Greest on an electronic waste recycling awareness session.
• Launched an environmental awareness project in Al Gamaleya area.
• Launched an annual initiative with KidZania.
• Celebrated “International Men’s Health Day”.
• Obtained a Certificate in waste recycling.
• Launched the “Ithmaar” initiative by planting 300 trees.
• Conducted a diabetes awareness event.
• Welcomed Al Noor Rehabilitation & Welfare Association’s Shop to support People of Determination.
• Held a charitable bake sale.
• Organized a toy drive.
• Sponsored French community celebrations.
• Organized a beach cleaning.
• Organized the GIG ALGERIA Football Cup 2023.
• Initiated Oxygen Print reforestation campaign.
• Backed TRAIL AZRO N’THOR.
• Supported the ERRIDHA Campaign against cataracts.
• Sponsored an event organized by Turkish Women Insurers Association.
• Donated to the Earthquake Support Campaign.
• Supported Çeşme-Izmir animal shelter.

Governance Achievements

• Maintained Credit Ratings at “A” level from three rating agencies.
• Successfully implemented IFRS 17 standard.
• Implemented Diligent BLC system to digitalise corporate governance and automate compliance processes.
• Enhanced corporate governance standards across all levels of its operations.
• Harmonising Integrated Assurance and Corporate Governance for Sustainable Excellence.
• Integration of Assurance functions, Internal Audit, ERM, Compliance, Cyber & financial crime, Sanctions screening and Information security through digitalisation.

Climate Goals & Targets

Environmental Challenges

• Uncertainties surrounding interest rates and fluctuations.
• Spread of conflicts across various territories.
• Logistical issues.
• Energy sector instability.
• Sustainability risks related to internal operations, supply chains, and broader industry trends.

Mitigation Strategies

• Conservative insights and strategic planning.
• Adherence to prudent goals and the highest standards of corporate governance.
• Flexibility and efficiency in managing business amidst pressures.
• Diligent monitoring and tracking of developments with positive implications.
• Establishment of risk treatment plans to address identified sustainability risks.
• Integration of developed plans into overarching sustainability strategy.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI

Certifications: ISO/IEC 27001

Awards & Recognition

• BEST INSURANCE CO. FOR CORPORATE RESPONSIBILITY, Mena 2023
• BEST INSURANCE GROUP LEADERSHIP , Mena 2023
• BRAND OF THE YEAR, Regional Tier Awards
• DECADE OF EXCELLENCE, 2013–2023
• BEST INSURANCE GROUP , Mena 2023
• BEST GENERAL INSURANCE COMPANY, Mena 2023
• MOST ADMIRED INSURANCE COMPANY, Mena 2023
• MOST DIVERSIFIED INSURANCE GROUP , Mena 2023