Monday, February 26, 2024

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GCP #76: Enel Insurance, the first captive signatory of the UN’s Principles for Sustainable Insurance

Antonio Nervini, Enel
Butch Bacani, United Nations
Ciaran Healy, Aon

In episode 76 of the Global Captive Podcast, supported by legacy specialists R&Q, Richard is joined by three of the professionals instrumental in the first captive insurance signatory of the United Nations’ Principles for Sustainable Insurance (PSI).

Earlier this year Enel Insurance, the Netherlands-domiciled captive owned by Italian energy multinational Enel, became the first captive to sign up to the PSI.

In a 25 minute discussion recorded at the European Captive Forum in Luxembourg, in November, listeners will hear from Antonio Nervini, Head of Insurance in the Netherlands at Enel, Butch Bacani, Programme Leader for the UN’s Principles for Sustainable Insurance, and Ciaran Healy, Chief Commercial Officer for EMEA at Aon Global Risk Consulting.

Now Enel has a long track record of embracing and investing in renewable and sustainable energy practices, including being the first to design and install smart meters in 2001, and the first private company in the renewable power sector to be listed on the Dow Jones Sustainability Index. And this step by the captive to sign up to the PSI is a good reflection of a group-wide approach to meeting sustainability and ESG targets.

Antonio will explain why Enel wanted to be the first captive to become a signatory of the PSI, Ciaran explains the work involved and whether he expects other captives to follow suit, but Butch begins provides some background on the PSI and his own ambitions for the captive market.

To read the Report authored by Aon and the United Nations on Using a Captive Insurance Company to Drive Positive ESG Outcomes, click here.