W&W Group: Greater sustainability in insurance business
In early August, the Wüstenrot & Württembergische Group (W&W) signed the United Nations Principles for Sustainable Insurance. The insurance group is thus increasingly embedding environmental, social and governance-related aspects (ESG) in its insurance business.
With its signature, the W&W Group has expressed its commitment to the following four Principles for Sustainable Insurance:
1. We will embed in our decision-making environmental, social and governance issues relevant to our insurance business.
2. We will work together with our clients and business partners to raise awareness of environmental, social and governance issues, manage risk and develop solutions.
3. We will work together with governments, regulators and other key stakeholders to promote widespread action across society on environmental, social and governance issues.
4. We will demonstrate accountability and transparency by regularly disclosing publicly our progress in implementing the Principles
The Principles for Sustainable Insurance were introduced in 2012 by the United Nations Environment Programme Finance Initiative. Its objective is to assist insurers in taking sustainability criteria into consideration in their core business.
With its signature, the W&W Group intends to enhance the company's economic, ecological and social responsibility. For this purpose, it also signed the Principles for Responsible Investment in May 2020, thereby undertaking to incorporate ESG issues into its analysis and decision-making processes in the investment area.
The W&W Group
The W&W Group came into existence in 1999 as a result of the merger of the two long-standing companies Wüstenrot and Württembergische. Today, it develops and provides the four components of modern financial planning: financial security, housing property, risk protection and savings and investment. It combines the Housing, Insurance and brandpool divisions as equally strong pillars, which enables it to offer every customer the financial planning solution that suits them best. In doing so, the W&W Group focuses on omni-channel sales, ranging from its own mobile sales force to cooperation partners and sales agents, broker activities and digital initiatives. Today, approximately 13,000 people work as in-house staff or in the mobile sales force for the listed group headquartered in Stuttgart, Germany.