QBE North America said it has made its first major community “impact” investment for 2019.
The integrated specialist insurer said it has issued the contribution through its Premiums4Good program, which allocates a portion of policyholder premium towards impact investments that have a social or environmental objective.
Issued by Reinvestment Fund, a S&P-rated Community Development Financial Institution (CDFI), the insurer-sponsored bond will support loans to organizations focused on education, food commerce, commercial enterprise, healthcare, housing, community resources, or climate solutions. QBE North America did not disclose the specific bond amount.
Russ Johnson, QBE North America’s CEO, said that the Premiums4Good programs enables the insurer to support community loans that focus on enabling economic inclusion, which helps shareholders and the community alike.
“It’s in QBE’s DNA to support the communities where we live and operate,” Johnston said.
This investment is in-line with QBE’s commitment to sustainability and aligned with the UN Sustainability Development Goals (SDGs). In particular, this initiative supports the achievement of SDG 11 – Sustainable Cities and Communities, the insurer said.
QBE noted that it has made sustainable investments since 2014, but said impact investments are a new approach to sustainable investing. Done via its Premiums4Good program, this investment category places a percentage of policyholder premiums toward those impact investments that have an added social or environmental objective alongside generating a positive financial return.
Source: QBE North America