RenRe CEO commits to being 'positive force for change' in new ESG strategy

Bermuda-based RenaissanceRe Holdings has unveiled its new environmental, social and governance (ESG) strategy while committing to being a "positive force for change" and help solve complex challenges such as climate risk and protection gap.

The reinsurer has outlined three strategic focus areas as part of its ESG strategy - promoting climate resilience, closing the protection gap, and inducing positive societal change.

The company has also launched a new website to provide insight into its key sustainability activities, such as understanding and modeling the impact of climate change, promoting diversity equity and inclusion (DEI), and fostering a collaborative and entrepreneurial culture that empowers employees.

Kevin O’Donnell, president and CEO of RenRe, said: “At RenaissanceRe, we are committed to helping solve the world’s most complex challenges and being a positive force for change. This new website provides our stakeholders with a deeper understanding of our ESG activities and demonstrates our commitment to acting with integrity and upholding the highest standards of service and responsibility. It is through these values that we build employee engagement and maintain the trust of our clients, brokers and investors.”

Ian Branagan, group chief risk officer and head of corporate strategy, added: "Our commitment to good corporate citizenship has always been a central part of our culture and strategy at RenaissanceRe and is firmly embedded in our values. Our new website outlines how we will focus our core business strengths to make a meaningful impact on society. The RenaissanceRe team has long sought to create value and innovation for our partners and we hope to find new ways to apply our energy and expertise to make an impact in our communities and for our fellow citizens.”