Dunant Re IC gets first GIIA ESG award
The Guernsey International Insurance Association (GIIA) has awarded its environmental, social and governance (ESG) accreditation to Dunant Re IC Limited, an incorporated Cell of Replexus ICC (Guernsey) Limited.
Dunant is the first accredited under the framework, which was launched by GIIA earlier this year. It was developed in collaboration with Guernsey business ESI Monitor, which helps organisations measure and manage their environmental and social impact. Under the framework, insurers and insurance managers who are members of GIIA can self-certify and apply for a kitemark through a third-party accreditation process.
Durant, managed by Aon Insurance Managers (Guernsey), is the world’s first humanitarian catastrophe bond covering pure volcanic eruption. Sponsored by the Red Cross, it raised $3m from investors to cover the risk of 10 eruptions across three continents.
“I am delighted that the Red Cross-sponsored Dunant Re is the first entity to receive GIIA’s ESG kitemark, and I hope, for the good of our world and generations to come, that this is merely the first of very many companies to receive this honour,” said Cedric Edmonds, Founder and Director at Replexus ICC.
Mark Elliott, GIIA chair, added: “GIIA is delighted with the response received from members in relation to our ESG Framework. This announcement of the first accredited entity under the framework is a testament to our ambition to position ourselves at the forefront of ESG standards.
“The time for real action and transparency is here, and we congratulate the Red Cross, Dunant Re and Aon Insurance Managers on their achievement.”