ICMIF member IPB, Irelands only non-life mutual and the largest liability insurer in the state, has announced that its strategy to do business responsibly and sustainably has been formally evaluated by S&P Global Ratings. Assessed across Environmental, Social and Governance (ESG) dimensions of S&P Global Ratings’ assessment, IPB received a score of 73 out of 100, recording the highest score for the social category to date under the S&P ESG evaluation Process for Financial Services companies.
“I am pleased that our commitment to working within the Principles for Sustainable Insurance (PSI) is now recognised externally, receiving a solid score from which we can build on further over the coming years. I am particularly pleased that the S&P Global Ratings ESG Evaluation rated IPB’s Social performance the highest yet among its published reports for financial services companies. This is a testament to our ethos as a mutual and the values we hold dear that not only recognises our commitment to our Members but also the communities they serve.” Michael Garvey, CEO IPB Insurance.
S&P Global Ratings’ ESG Evaluation assesses a company’s ESG strategy and ability to prepare for potential future risks and opportunities and is used by investors as a forward looking, long-term opinion of a company’s readiness for disruptive ESG risks and opportunities. It provides an overall ESG Score that allows comparison with other entities globally, including sector peers.