A declaration of commitment by African insurance industry leaders to support the achievement of the UN Sustainable Development Goals
The Declaration was formally launched at the UNEP PSI’s 4th Africa summit hosted by ICEA LION Group as a founding signatory in Nairobi in April 2021. Together with 11 other institutions, signatories to the Declaration sought to bring together senior leaders to accelerate solutions to major sustainability challenges – ranging from climate change and ecosystem degradation to poverty and social inequality – particularly in a post-Covid-19 world.
Since its launch in 2021, FSD Africa has taken to supporting the Declaration through a series of events and thought leadership engagements as it encourages more institutions to sign up.
The Nairobi Declaration on Sustainable Insurance is supported by the following institutions.
Mozambique Women in Insurance was founded with an aim to develop tailored made insurance solutions to improve the livelihoods of the most vulnerable women, based on “The Sustainable Livelihoods Approach”. Becoming a signatory of “The Nairobi Declaration on Sustainable Insurance” represents an important step towards pushing for action, implementation, and management of the SDGs in our continent. Alongside like-minded signatories of the declaration, we intend to create a positive and remarkable impact for the future of Africa.
Iara Sousa — Founder, Mozambique Women in Insurance
The African Association of Young Insurance Professionals (YIPs Africa) is proud to be a signatory of the Nairobi Declaration on Sustainable Insurance. The largest population of insurance practitioners across Africa are the youths and it is our responsibility to make our voices heard by proffering developmental ideas on climate-related strategies.
Tobi Osanaiyo — President, Young Insurance Professionals (YIPs Africa)
Emerging Markets Africa is proud to be a signatory to the Nairobi Declaration on Sustainable Insurance in Africa. We are committed to the ESG principles towards the realisation of Sustainable Development Goals. As an advisory organisation in the Inclusive Insurance space, we continue to advocate for ESG into our clients’ core business functions.
We will be extending the use of Human-Centred Design (HCD) to integrate ESG with existing partner systems such as national and local governments, commercial markets, community and informal sector among others. Adapting our initiatives with the right partnerships and stakeholders ensures that innovations are sustainable. This collaboration is the key to achieving positive change for the masses in Africa.
Luis Kinuthia — Co-founder and CEO, Emerging Markets
East Africa Reinsurance Company is delighted to become a signatory of the Nairobi Declaration on Sustainable Insurance. As a reinsurer, we aim to provide quality risk solutions, excellent service and enhanced value to all our stakeholders. We believe that the principles are a foundation upon which the insurance industry and the society as a whole can build a stronger relationship – one that puts sustainability at the heart of risk management in pursuit of a more forward-looking and better-managed world.
Peter K. Maina — CEO, East Africa Reinsurance Company Limited (EARe)
The insurance industry has a vital role to play in the urgent fight against climate change. Failing to act could lead to devastating consequences, both for our customers and our industry.
By signing the Nairobi Declaration, we at iRisk Reinsurance Brokers reaffirm our dedication to supporting initiatives that will help build a sustainable and resilient future for all.
Mubarik Ibrahim — Managing Director, iRisk Reinsurance Brokers Limited
The current state of Africa is one of great uncertainty, making the achievement of the UN SDGs more important than ever. At iRisk Management Limited, we believe insurance has the power to transform lives and create a more sustainable future for all. We are committed to promoting sustainable business practices and reducing our environmental impact, while simultaneously supporting social initiatives that can create positive change in Africa.
Sheila Wristberg — Managing Director, iRisk Management Limited
Awash Insurance is highly pleased to sign the Nairobi Declaration on Sustainable Insurance. At Awash Insurance, we believe in our responsibility to protect the environment. As professional insurers, we have great attachment with environmental issues as part of our value to be socially responsive. We strongly believe that real change is achieved when we all come together and take action to play our part in protecting our planet. The Nairobi Declaration has a common goal towards a shared vision for sustainable insurance and it gives me great pleasure to be part of this positive contribution.
Gudissa Legesse Diro — CEO, Awash Insurance S.C
It’s not a secret that climate is rapidly changing, and we each have a responsibility to slow is it down. Sustainability must be one of the most important conversations humanity is having NOW. A net-zero climate resilient future is possible if we all do our bit.
Opelo Lefhoko — CEO, WIRAS Reinsurance Brokers
The necessity for African countries to embrace net zero ambitions is an important one. Overall, there is a genuine commitment, but many African countries are also beset with other pressing challenges, for example struggling economies, increasing foreign debt, high levels of unemployment, poverty and malnutrition for its citizens.
What African countries need is a balanced approach, whether we’re talking about reducing carbon dioxide emissions into the atmosphere or persistent drought conditions brought about by climate change, the insurance industry (both local and foreign) plays a pivotal role in ensuring the longer-term viability of these economies and bringing about change in a sustainable manner.
We need partnerships that create sustainability for the long term, and therefore my decision to support intent, behind the Nairobi Declaration on Sustainable Insurance.
Seelan Naidoo — CEO, Carmine Underwriting Managers
WAICA Re is proud to be a signatory to the Nairobi Declaration on Sustainable Insurance in Africa. As a forward-thinking institution, WAICA Re is committed to integrating ESG into its business decisions, operations, investments, underwriting, products, and services. Our tagline “Together Towards Tomorrow” forms the building block of our environmental, social and governance framework.
Ezekiel A. Ekundayo — Group Managing Director & CEO, WAICA Reinsurance Corporation PLC
At Apollo Group, we believe that a future where environmental, social and governance matters are central to how we run our business, is a future worth working towards. That is why we are putting these matters in the core of how we do business. The principles for sustainable insurance are at the forefront of the industry and they will drive the innovation that will provide transformation in the way companies do business. Our commitment to The Nairobi Declaration on Sustainable Insurance is a commitment to the future, the industry, and the society as a whole
Ashok Shah — Group Chief Executive Officer, Apollo Investments Ltd
The destiny of our children and future generations lies solely in our hands, so we must do all that it takes to secure a sustainable future for them. As a signatory to the Nairobi Declaration on Sustainable Insurance, OESAI is delighted to partner with like-minded institutions to create awareness on the role that the insurance industry plays in creating a sustainable future.
Rose Wanda — Secretary-General , The Organization of Eastern and Southern Africa Insurers (OESAI)
Joseph Kusi-Tieku — Chief Executive Officer, GN Reinsurance Company Limited
The journey to excellence in sustainability begins with building a strong foundation, driven by a clear and actionable enterprise-wide vision. Insurance models are transforming swiftly in response to the emerging climate risks. It is crucial for insurers to change themselves by proactively managing the sustainability risks. The emerging Risk scenario is demanding the role of (Re)insurers as responsible societal players by considering some environmental and social dimensions of business while creating long term stakeholders value
Dinesh Salgadu — Chief Technical Officer, SeyRe - Global
Let me begin by congratulating you for the excellent initiative of the creating the Nairobi Declaration on Sustainable Insurance.
The insurance industry serves as society’s early warning system and risk manager by understanding, reducing, pricing and carrying risk. And the insurance industry and wider financial sector have the power and responsibility to drive progress towards a net-zero economy and a sustainable future.
Yantee Goolaup — Managing Partner / Deputy CEO, Royal Shield (Re) Limited
The world has of late been increasingly aware of the threats to future generations from failing to act sustainably. At Ellgeo Re, we are committed to acting responsibly, in our little way, so our children and their children can envisage their future more positively.
Alain Francis — CEO, EllGeo Re
SCG-Ré is honored to be the first signatory to the Nairobi Declaration on Sustainable Insurance in the CIMA region.
As a subsidiary of the Gabonese Fund for Strategic Investments (FGIS), SCG-Ré is in line with the policy of the Gabonese State and the President of the Republic, His Excellency Ali BONGO ONDIMBA, African global leader in environmental preservation and sustainable development.
FGIS subsidiaries, including SCG-Ré, undertake to make environmental preservation, consideration of ESG issue and reduction of carbon footprint as part of their DNA, through adapted CSR policies and adoption of Principles of Sustainable Insurance (P.S.I). We are indeed concerned by the challenges of the Nairobi Declaration on Sustainable Insurance and share the objectives set out in it.
Furthermore, we will encourage African insurance and reinsurance companies to join this initiative which is beneficial to our common future. We undertake to do everything possible to ensure that in Gabon and in the CIMA region, companies of the insurance industry adhere to the Declaration, given the crucial role that insurers and reinsurers must play in the dynamics of sustainable development in Africa.
Dr Andrew GWODOG — CEO, SCG-Ré
At ZEP-RE, we have entrenched sustainability at the core of our operations and are committed to deepening financial inclusion by availing appropriate risk management solutions. We are delighted and honoured to become signatories to the Nairobi Declaration for Sustainable Insurance as it aligns with our strategy and founding mandate
Hope Murera — CEO , ZEP-RE
As the impact of climate change continues to escalate on the African continent, there has never been a more critical time for countries to prepare for disasters and build resilience. Reacting after a peril is already much too late. Disaster risk insurance is anticipatory in nature, helping to cushion the blow of a crisis with the swift release of funds, and allowing emergency aid to reach the vulnerable quickly and effectively.
Lesley Ndlovu — CEO, African Risk Capacity Limited
The African Insurance Organisation (AIO) is proud to be a signatory of the Nairobi Declaration on Sustainable Insurance. The insurance sector in Africa is, in a sense, the continent’s risk manager. The insurance sector is uniquely positioned to help Africa protect itself against climate risks and support the transition to a resilient and net-zero emissions Africa
Jean-Baptiste Ntukamazina — Secretary-General, African Insurance Organisation
Today, Britam Holdings Plc is proud to become a signatory of the Nairobi Declaration. We recognize that we will only be able to overcome challenges such as climate change and social injustice if the insurance sector collectively and actively plays its part in securing a liveable and prosperous future for the world.
Tom Gitogo — Group MD, Britam Holdings PLC
Our vision is to ensure a safe, vibrant, and sustainable insurance industry in sync with the ethos of SDGs. IPEC seeks to be on the forefront in upholding the principles of sustainable insurance in the face of a dynamic operating environment and foster sustainable economic growth of the Zimbabwean economy.
Grace Muradzikwa — Commissioner, Insurance and Pensions Commission (IPEC)
We are delighted to be a signatory of the Nairobi Declaration. We firmly believe that the insurance industry and domestic African re/insurers have an important role to play in de-risking sustainable development opportunities. Furthermore, the domestic insurance sector can deliver important disaster risk finance solutions to deliver resilient communities. Mobilising local expertise and pools of capital is an important step to accelerate the delivery of the UN Sustainable Development Goals
Julian Richardson — CEO, Parhelion Underwriting Ltd
Kenbright is proud to sign the Nairobi Declaration on Sustainable Insurance. Insurance is an important risk management tool where some Climate Risks are transferred to insurance pools to enable SMEs to cope with financial shocks. Kenbright has also joined the Global Reporting Initiative (GRI) as a consulting member.
Ezekiel Macharia — CEO , Kenbright Holdings Limited
NamibRe is proud to be a founding signatory of the Nairobi declaration on sustainable insurance. As a Reinsurer, we understand the impact of climate change on our business and the environment we operate and hence the declaration is a sign of our commitment to mitigating the impact of climate change
Patty Karuaihe-Martin — Managing Director, NamibRe
Sustainable insurance business is not a destination, it is a journey and it starts with the day-to-day practices in your organization. Becoming a signatory to the Nairobi Declaration is the first step in this journey.
Tom Gichuhi — CEO, AKI
ICEA LION Group as the host of the 4th PSI Africa Market event where the Nairobi Declaration was birthed, we remain committed towards this cause. We call for more signatories to join us as we move from words to real impactful actions to protect and preserve our world for the sake of the here and now and for future generations to come.
Dr. Caesar Mwangi — CEO, ICEA Lion Group
Signing the Nairobi Declaration was a natural move for us, as part of our DNA is to enhance communication and awareness among African insurance players about the value of developing a sustainable and resilient insurance marketplace. We look forward to this conversation increasing greatly in the coming months as we look forward to COP27 in Egypt this November, and to the African insurance industry having a meaningful voice at that global conference.
Liz Booth — Managing Editor, AFAH Publishing