The latest from AXIS Corporate Citizenship
Our Focus
Central to our Corporate Citizenship initiative is building and strengthening organizational and societal resilience, while delivering long-term value to our colleagues, shareholders, clients and other stakeholders. Our Citizenship program, designed to address environment, social and governance (ESG) factors, is guided by frameworks like the Principles for Sustainable Insurance and the United Nations Global Compact, which we signed in 2020.
Environment: Protecting our planet
Climate-related risks are among the most serious issues facing the world today and we believe that (re)insurers have an important role to play in mitigating climate risk and supporting the transition to a low-carbon economy. As part of our efforts, AXIS is:
Investing in our Renewable Energy business, where AXIS is a top global player, and promoting the increased adoption of alternative energies as part of the climate transition
Phasing out thermal coal business from our insurance, facultative reinsurance, and investment portfolios, and significantly limiting business related to oil sands and the Arctic National Wildlife Refuge. Read our policy here
Actively tracking our greenhouse gas emissions (see results here) and using the results to identify opportunities to mitigate our footprint and minimize our operational impact
We are committed to using our voice to advocate on climate issues and are proud and active participants in industry-wide initiatives. Examples include:
Member of the IDF, a partnership among the United Nations, the World Bank and members of the insurance industry
Member of the Sustainable Products and Services Workstream of the Sustainable Markets Initiative Insurance Task Force, convened by HRH Prince of Wales and chaired by Lloyd's
Member of the Geneva Association, the international think tank of the insurance industry
Partnership with the University of Illinois Gies College of Business to support sustainability-related initiatives, read recent research papers here
Diversity: Fostering inclusion
We value and actively embrace different perspectives and experiences, and we are focused on creating a culture of inclusion. A Global DEI Council comprised of staff volunteers guides our Diversity, Equity, Inclusion (DEI) priorities. We have been scaling up our DEI efforts through a formalized approach that includes:
Internal Education and Awareness
Recruitment and Mobility
Recruitment and Mobility
We prioritize having diverse interview slates, as well as identifying career mobility opportunities for existing staff. Our work also includes establishing and enhancing relationships with diverse universities and professional organizations; participating in diverse apprenticeship programs in regions where we operate; providing recruitment training and manager coaching with a focus on enhancing managers’ effectiveness at recruiting diverse candidates; and further building our internship program with strong diverse representation. To learn more about recruitment and our DEI program at AXIS, click here.
Support of Diverse Colleagues in their Careers
Support of Diverse Colleagues in their Careers
We provide a variety of resources to our colleagues in their careers, such as access to our learning and development hub AXIS Academy, financing for professional development opportunities, and early careers programs. We also offer resources to support diverse colleagues, such as:
- Leadership coaching programs with 50% diverse representation
- Mentoring events and opportunities
- Staff-driven employee resource groups (ERGs) including Parents, Ethnically Diverse Group of Employees (EDGE), Veterans and Women
- Benefits such as parental leave policies and flexible work arrangements for eligible staff. Read more here
Tools and Measurement
Tools and Measurement
We have invested in tools to establish, report and track benchmark metrics progress. We measure gender pay gap semi-annually and conduct annual pay audits. And in 2021, we were proud to be included in the Bloomberg Gender Equality Index. See our recent Proxy for our global gender demographics as well as the racial and ethnic demographics of our U.S. colleagues.
Supplier Diversity
Supplier Diversity
Our commitment to advancing DEI extends beyond our practices within AXIS. As one way to further foster a culture of inclusion in our industry and communities, we launched a Supplier Diversity Policy designed to ensure a diverse supplier base by engaging certified Diverse Business Enterprises in our procurement process. Read the full policy here.
We are committed to providing a professional and respectful work environment. We are also firmly committed to providing equal opportunity in all aspects of employment and all employment practices are based on ability and performance. We have a zero-tolerance approach to discrimination, verbal or physical harassment, and disrespectful, threatening or violent behavior.
We leverage our industry position to help encourage change on DEI issues. Examples of our partners, industry work and recognition include:
AXIS leaders sit on the boards of organizations like Insider Progress, the National African American Insurance Association, and the WSIA Insurance Industry Diversity Foundation to foster inclusion in our industry.
Philanthropy: Investing in our communities
Our Philanthropy programming empowers our people to give back at the global, local and individual level.
To lead our philanthropic efforts, we established a global philanthropy committee as well as nearly 20 local committees to lead initiatives
across the regions where we operate. As a result, all of our giving and volunteer programming is driven by our people. Aligned with our Citizenship priorities, the majority of our local funding is concentrated on causes addressing Diversity, Equity,
Inclusion (DEI) and Climate.
In addition to year-round opportunities to engage in the community, each year we host a Global Giving Rally – held over several months. During this period, our people are encouraged to use paid time off to volunteer at local organizations. We also offer one additional paid day off to volunteer at any point during the year and volunteering opportunities during work hours throughout the year.
As part of our investment in our people and communities, AXIS also sponsors a Matching Gift Program, an employee Grant Program and special opportunities to give back in partnership with our DEI and environmental initiatives through our internal Employee Recognition Program, AXIS Applause.
ESG Governance
The Corporate Governance and Nominating Committee of the AXIS Board of Directors provides oversight for Corporate Citizenship and ESG activities and policies. Our Board, along with our Risk Committee, oversees the risks and opportunities related to the Company’s climate change exposure and initiatives and receives regular reports relating to climate change as part of their standing agendas. See our Board’s committee composition here.
Day-to-day initiatives are guided by corporate policies and staff-driven committees overseen by AXIS’ General Counsel. This includes a Corporate Citizenship Committee with dedicated global leads focused on overall strategy, climate, DEI, and philanthropy, and numerous staff-led committees such as our Climate Change Working Group, DEI Council, and Philanthropy Committees.
ESG Policies
- AXIS Capital Statement and Policy on Climate Risk and the Environment
- AXIS Capital Supplier Diversity Policy
- AXIS Capital Human Rights Policy
- AXIS Capital Holdings Limited Group Statement on Modern Slavery and Human Trafficking
ESG Reporting
At AXIS, we are committed to reporting out to stakeholders regularly on ESG issues. See below reporting aligned with:
- Sustainability Accounting Standards Board (SASB) standards for the insurance industry
- Principles for Sustainable Insurance
- United Nations Global Compact Communication on Progress
- UK Gender Gap Report
- AXIS Statement on Data Privacy and Security
