Broking powerhouse Aon has highlighted that environmental, social and governance (ESG) transparency is increasingly a factor in commercial and business insurance renewals, which suggests this will eventually cascade to reinsurance and retrocession renewals as well.

Commenting specifically on insurance renewals, Aon explains that ESG transparency is increasingly demanded of protection buyers, as major insurers become more focused on paring down their exposure to industries and businesses deemed not to meet ESG standards.

Environmental, social and governance (ESG) discussion is often focused on the investment side of the insurance and reinsurance industry, also in insurance-linked securities (ILS).

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