The global insurance industry experienced a 57% drop in company filings mentions of environmental sustainability in Q3 2022 compared with the previous quarter, with the highest share accounted for by AXA, according to GlobalData’s analysis of over 147 insurance company filings.
Notably, environmental sustainability was one of the most frequently referenced themes in Q3 2022, ranking highest in terms of mentions, ahead of social and ecommerce, according to GlobalData’s whitepaper on Environmental Sustainability in Insurance – Filings Trends in Q3 2022.
Of the 50 leading companies in the insurance industry, AXA had the greatest increase in references for environmental sustainability in Q3 2022, compared with the previous quarter. GlobalData identified 263 environmental sustainability-related sentences in the company's filings - 179% of all sentences - and an increase of 651.428571428571% in Q3 2022 compared with Q2 2022. Bajaj Finserv’s mentions of environmental sustainability rose by 100% to 46 and SBI Life Insurance’s by 100% to 38.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for environmental sustainability in Q3 2022 was 108.