Chaucer Insurance Company Designated Activity Company
Climate Impact & Sustainability Data (2022)
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- environmental, social and governance factors
Social Achievements
- Chaucer Group released its sustainability report during 2022, which outlines the Group’s vision on ESG. In addition, and in collaboration with Moody’s, Chaucer Group rolled out its ESG Balanced Scorecard across underwriting, investments and operations.
Governance Achievements
- The management of climate-related financial risks has been embedded into the existing ERM Framework and the Company’s three-line of defence model.
Climate Goals & Targets
Environmental Challenges
- industry loss events, notably Hurricane Ian, the Russia/Ukraine conflict, and hailstorms in France; high inflationary environment affecting assets and liabilities; steep rise in unrealized losses on investment portfolio due to rising interest rates.
Mitigation Strategies
- comprehensive reinsurance program; detailed analysis of exposure to excess claims inflation leading to an explicit uplift to future cash flows; income-focused investment strategy holding assets to maturity; strong levels of liquidity.