Corporate Social Responsibility (CSR)
PRIME RE LTD is committed to being a socially responsible business and a valued partner to employees and clients alike. Our corporate social responsibility activities are carried out in accordance with high ethical standards and good governance principles, within a long-term and sustained strategy.
The initiatives and projects that PRIME RE LTD finances and implements are focused on the growth and development of the insurance market and industry, including:
- grants and activities for the development of risk management solutions;
- industry and business partnerships;
- research on methods to enhance risk awareness and prevention;
- partnerships with academic institutions to develop approaches and methods on risk mapping and assessment;
- support for training and development of students and young professionals in the insurance industry;
- charitable projects, such as support and emergency relief for non-insured communities affected by natural disasters.
In order to achieve our corporate social responsibility goals, we source for honest and credible partners and conduct our business in an ethical and safe manner, in compliance with our environmental, social and economic values.
The key priorities in our corporate social responsibility program include the following areas:
- Risk awareness: training on risk reduction initiatives; general awareness on pandemics and epidemics;
- Development of the insurance industry: trainings on technical aspects of risk management, as well as on regulatory and risk trends impacting the entire industry;
- Disaster recovery: relief funds for victims of disasters; contributions to rebuilding affected communities following disasters;
- Technology development: sponsor insurtech startups that develop cutting-edge technology to improve the current insurance process; support new technological initiatives, such as blockchain;
- Research and development: sponsor academic or professional research on risk issues affecting the insurance industry and the communities where we operate (such as mortality/morbidity, longevity, climate change, cyber risk etc.);
- Community development: become involved in the environmental, social and governance issues that affect the communities where we are present and sponsor projects such as providing facilities at hospitals, providing water and alternative energy, providing or upgrading teaching facilities; providing books; environmental management support to local authorities; sponsor public facilities;
- Education: insurance courses in universities and colleges, scholarships for students and paid internships for graduates; training programs for professionals working in the reinsurance industry; support of local actuarial associations.
Through our actions we want to drive positive and sustainable progress, using innovative thinking and business expertise, in order to contribute to building stronger and safer societies.
