Compared to Europe, the US insurance sector is still in the early stages of ESG integration, according to AM Best. The rating agency evaluated property-casualty, life/annuity and health insurers and reinsurers operating in the US on their ESG approaches and found that carriers’ focuses varied by segment.
P&C insurers’ responses showed that they focused more on environmental risk, while life/annuity insurers said they focused mainly on investment risk. Health insurers put greater emphasis on the social impacts of health equity.
At the same time, all three US insurance segments focused strongly on corporate governance, according to the new Best’s Special
