Climate Change Data

Environmental Metrics

ESG Focus Areas

• Sustainability
• Environmental, Social, and Governance (ESG)

Environmental Achievements

• Contribution to Mountain Bongo feeding program
• Strategic partnership with Nigeria Conservation Foundation

Social Achievements

• 8th Pan-African (Re)Insurance Journalism Awards
• Donation of workstation furniture to the College of Insurance in Nairobi
• Launch partner for AfricaAhead newsletter
• Client training and seminars with over 2,000 participants

Governance Achievements

• Adoption of IFRS 9 and IFRS 17 accounting standards
• Annual independent Board evaluation by HNC Professional Services
• Appointment of Deloitte as new external auditor

Climate Goals & Targets

Environmental Challenges

• Economic uncertainty
• Climate change
• Operational risks
• Regulatory risks
• Premium collection challenges
• USD liquidity shortage
• High charges on some high yields' instruments
• Sovereign credit risks in SSA
• Non-tradable assets in portfolio
• Low returns on statutory fund

Mitigation Strategies

• Balance sheet dollarization strategy
• Strengthened internal control framework
• Robust compliance monitoring processes
• Risk education and culture development initiatives
• Enhanced risk assessment framework
• Enhanced ESG integration
• Cybersecurity investments
• Technological advancements (Internal Capital Modelling Software, AI applications)
• Proactive approach to regulatory compliance
• Aggressive premium collections
• Conversion of local currencies to USD
• Rebalancing bond portfolio to increase high-quality A-rated instruments
• Diversification of bond portfolio
• Designation of some bonds as available-for-sale instruments
• Efficient management of bank balances
• Opening local bank accounts in key regions
• Strategic fund allocation across regions
• Enhanced market information intelligence
• Cautious participation in quoted equity market

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Climate-related events

Reporting Standards

Frameworks Used: IFRS 9, IFRS 17

Awards & Recognition

• Reinsurance CEO of the Year (Lawrence Nazare)
• African Champion nomination for AFIS 2023 Awards