Sompo Japan Insurance
| Industry:insurance | ISIN:JP3932400009 | Country:JP | CRR:C+ |
Company Profile:
Sompo Japan Insurance was formed on July 1, 2002 through the merger between Yasuda Fire and Marine Insurance and Nissan Fire and Marine Insurance. The group's principal activity is to provide non-life insurance including voluntary automobile insurance, fire insurance, marine insurance, personal accident insurance and compulsory automobile liability insurance. The group is also involved in life insurance, investment trust and asset management.
Strengths/weaknesses profile:
Strengths:
- integration of environmental factors into a broad range of property and casualty insurance products
- environmental management system implemented
- reasonable steps taken regarding the implementation of concrete strategies and formal systems to address climate change
- regular reporting on environmental and social issues
- comprehensive community involvement policy and management
Weaknesses:
- lack of transparency regarding standards of responsible advertising and transparent design of insurance policies
Reasons for inclusion in the Index:
Sompo Japan has adopted a specific strategy for reducing its own emissions. The company also offers discount premiums for hybrid vehicles and other low-emission cars and, in so doing, promotes the acceptance of such vehicle designs and their launch onto the market.