BOSTON, Dec. 10, 2020 /PRNewswire/ -- As part of its ongoing commitment to environmental, social, and governance (ESG) progress, Liberty Mutual Insurance today announced that it has become a signatory of the United Nations-supported Principles for Responsible Investment (PRI). Liberty Mutual is the first U.S. Property and Casualty (P&C) insurer to join the leading international network of institutional investors committed to including ESG factors in their investment decision making.
As a global insurer and investor, Liberty Mutual has a broad set of opportunities to address important ESG considerations through its business and investment decisions. The company has been committed to ESG principles for decades and its Office of Sustainability was established to deliver an integrated ESG strategy across the enterprise.
"As a leading global company, we are in a unique position to make lasting change for our industry and our communities. We are joining the PRI in addressing some of the most pressing ESG issues facing the world today -- from climate change to the barriers around a more sustainable financial system -- leading to prosperous and inclusive societies for future generations," said Liberty Mutual Insurance Chief Investment Officer Neeti Bhalla Johnson. "We are proud to take this bold step forward as the first U.S. P&C insurer to become a PRI signatory and make this commitment to play an active role through responsible investing."
"We are very pleased to welcome Liberty Mutual as the first U.S. P&C insurer PRI signatory. In joining PRI, Liberty Mutual is recognising the importance of incorporating ESG factors into its investment and ownership decisions," said Principles for Responsible Investment Chief Executive Officer Fiona Reynolds. "More broadly, the insurance sector is playing an increasingly visible role in sustainable investing, and we hope other insurers in the U.S. will follow Liberty Mutual's lead in its commitment announced today."
The goal of the PRI is to understand the implications of sustainability for investors and support signatories to incorporate ESG factors into their investment decision-making and ownership practices. As a signatory, Liberty Mutual has committed to incorporate the PRI's set of six investment Principles that offer a menu of possible actions for incorporating ESG factors into investment practice.
The decision to join the PRI marks Liberty Mutual's ongoing commitment to its ESG journey. For more information, read the company's 2019 ESG review.
About Liberty Mutual Insurance
At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow.
In business since 1912, and headquartered in Boston, today we are the sixth largest global property and casualty insurer based on 2019 gross written premium. We also rank 77th on the Fortune 100 list of largest corporations in the U.S. based on 2019 revenue. As of December 31, 2019, we had $43.2 billion in annual consolidated revenue.
We employ over 45,000 people in 29 countries and economies around the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, specialty lines, reinsurance, commercial multiple-peril, workers compensation, commercial automobile, general liability, surety, and commercial property.
For more information, visit www.libertymutualinsurance.com.
About The Principles for Responsible Investment (PRI)
The Principles for Responsible Investment (PRI) is the world's leading proponent of responsible investment. Supported by the United Nations, it works to understand the investment implications of environmental, social and governance (ESG) factors and to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions. The PRI acts in the long-term interests of its signatories, of the financial markets and economies in which they operate and ultimately of the environment and society as a whole. Launched in New York in 2006, the PRI has grown to more than 3,500 signatories, managing over $103 trillion AUM.
SOURCE Liberty Mutual Insurance