As risk managers, investors and providers of financial protection, insurers have an important role in building resilient and sustainable economies. Their exposure to sustainability issues extends across underwriting, investment portfolios, operations and the changing needs of the businesses and communities they serve.
Through an ongoing programme for FSD Africa targeted at members of the Nairobi Declaration on Sustainable Insurance, Lybra is supporting insurers across Africa to move from broad ESG commitments towards practical integration within their businesses.
The programme is providing targeted technical assistance to 11 insurers across seven African markets – Kenya, Ethiopia, Ghana, Mauritius, Sierra Leone, Tanzania and Zimbabwe. It considers ESG across governance, underwriting, investments, risk management, operations and disclosure, recognising that meaningful integration requires sustainability considerations to become part of existing business decisions and processes.
Support is tailored to each insurer’s circumstances and level of ESG maturity. This includes establishing baseline positions, identifying priorities, strengthening ESG strategies and frameworks, building internal capability and supporting implementation. The wider programme also addresses sustainable investment and the development of insurance products that respond to emerging environmental and social needs.
Working across different institutions and markets provides an opportunity to develop practical approaches that recognise the diversity of Africa’s insurance industry while generating learning that can support wider ESG integration across the sector.
The programme is ongoing, with a focus on helping participating insurers translate sustainability priorities into practical changes in how they govern, manage risk, invest, develop products and make decisions – strengthening their capacity to respond to emerging risks and opportunities and create long-term value.