The global insurance industry experienced a 55% drop in company filings mentions of social responsibility in Q3 2023 compared with the previous quarter, with the highest share accounted for by SBI Life Insurance with 38% year-on-year increase, according to GlobalData’s analysis of over 57 insurance company filings. GlobalData’s Insurance: Filings Trends & Signals Q3 2023 report delves into earnings call transcripts and quarterly reports within the insurance industry, extracting trends, signals, and comparative data to help businesses assess their performance, identify competitive intelligence, evaluate risks, and gain a comprehensive understanding of key industry events. Buy the report here.
Notably, social responsibility was one of the most frequently referenced themes in Q3 2023, ranking highest in terms of mentions, ahead of governance and digital lending, according to GlobalData.
Of the top leading companies in the insurance industry, SBI Life Insurance had the greatest increase in references for social responsibility in Q3 2023, compared with the previous quarter. GlobalData identified 212 social responsibility-related sentences in the company's filings - 9% of all sentences - and an increase of 38% in Q3 2023 compared with Q3 2022. Bajaj Finserv’s mentions of social responsibility rose by 3% to 77 and HDFC Life Insurance’s by 244% to 55 and Fubon Financial’s by 25% to 39 and Cathay Financial’s by 73% to 26.
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 social responsibility in Q3 2023 was 94.
For further understanding of GlobalData's Insurance: Filings Trends & Signals Q3 2023, buy the report here.