Making the World a Better, More Sustainable Place with Impact Investments
QBE’s Announces Impact Investment Focused on Economic Inclusion to Help Strengthen Communities
New York, NY ― QBE North America, an Integrated Specialist Insurer, today announced that its Premiums4Good (P4G) program made its first impact investment of 2019, demonstrating its continued commitment to sustainability. The P4G program 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 bond will support loans to organizations focused on one of the following community impacts: education, food commerce, commercial enterprise, healthcare, housing, community resources, or climate solutions.
“It’s in QBE’s DNA to support the communities where we live and operate,” said Russ Johnston, CEO, QBE North America. “By allocating Premiums4Good to support community loans that enable economic inclusion, we can deliver good returns for our shareholders while also doing good in the world.”
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.
As a global leader in sustainable investing, our ambition is to grow impact investments, like this one, to US $1 billion by 2021.
While QBE has been on the forefront - making these kinds of investments since 2014 - impact investments are a new approach to sustainable investing and we are proud to continue this initiative by announcing an investment update regarding our Premiums4Good (P4G) program. This program allocates a percentage of policyholder premiums toward those impact investments that have an added social or environmental objective alongside generating a positive financial return.
“Ensuring access to financial services for all communities is core to helping our communities thrive and promoting economic sustainability,” said Harpreet Mann, Vice President, QBE North America and North America Executive Sponsor of Premiums4Good. “Through these types of investments, the QBE and likeminded corporations can find innovative ways to support creating resilient communities.”
“Our Impact Investment Bonds allow us to partner with investors to transform struggling neighborhoods by channeling capital into community-strengthening projects,” said Andy Rachlin, Managing Director, Lending and Investment, Reinvestment Fund. “These projects create opportunities for new jobs, affordable housing, quality education and healthy food access—the critical elements of healthy, thriving communities. QBE North America shares this commitment with us and we are excited to be able to count them as an investor.”
Globally, QBE invested in bonds focused on economic inclusion with multilateral organizations such as the International Finance Corporation (IFC), a division of the World Bank. One such social impact bond, the IFC Social Bond program, provides financing to women-owned enterprises and businesses operating in low-income communities in emerging markets. Learn more here.
For a copy of QBE’s Sustainability Report, click here.
QBE North America, an integrated specialist insurer, is part of QBE Insurance Group Limited, one of the largest insurers and reinsurers worldwide. QBE NA reported Gross Written Premiums in 2017 of $4.6 billion. QBE Insurance Group's 2017 results can be found at www.qbe.com. Headquartered in Sydney, Australia, QBE operates out of 31 countries around the globe, with a presence in every key insurance market. The North America division, headquartered in New York, conducts business through its property and casualty insurance subsidiaries. The actual terms and coverage for all lines of business are subject to the language of the policies as issued. QBE insurance companies are rated "A" (Excellent) by A.M. Best and "A+" by Standard & Poor's. Additional information can be found at www.qbe.com/us, or follow QBE North America on Twitter.
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