AIG CEO Brian Duperreault said the insurer is taking steps to address racial equality and improve diversity – issues raised globally by examples of police brutality and the Black Lives Matter protests that began earlier this summer.
“At AIG our colleagues were deeply upset by the traumatic events that exposed the depth of inequality that continues to exist in the United States and around the world,” Duperreault said during the insurer’s Q2 2020 earnings call on Aug. 4. “We saw an outpouring of empathy, which led to courageous and often difficult conversations throughout our organization.”
Duperreault, while not offering specifics, said the insurer is working on developing a number of action plans that would further promote equality among American International Group’s 46,000 global employees and the communities they serve.
“We are now moving beyond empathy and conversations to formulate near, short and longer-term actions we must take,” Duperreault said. “We know there are no quick fixes, and while we have taken important steps over the last few years to foster a culture of diversity and inclusion, we must do more.”
Duperreault said that promoting diversity and inclusion at AIG is as important as any of the fiscal improvement tasks the insurer’s leadership team has taken on over the last few years.
“Like the other complex issues we have taken on at AIG, my leadership team is committed, and I am confident, that with the support of our global colleagues, we will make lasting change at our company,” Duperreault said. “As we continue our transformational journey at AIG, we remain steadfast in our pursuit of excellence, in all that we do, which we know can only be achieved with exceptional, diverse talent, at all levels of the organization.”
Duperreault’s public comments on the Black Lives Matter protests and AIG’s response follows similar remarks from Chubb CEO Evan Greenberg.
Greenberg, speaking during Chubb’s 2020 second quarter earnings call on July 29, referred to the insurer as “an inclusive meritocracy.” He said the insurer is trying to build on that with an action plan designed to help boost “individual and collective understanding of racism in society and strive within Chubb to be antiracist” in its behavior.
According to Greenberg, plans at Chubb include holding executives and other leaders there accountable for developing and leading an inclusive environment. There will also be a focus on eliminating policies and practices “that potentially create bias” and block Chubb’s ability to develop a more diverse workforce “at all levels of the company.”