Contributing to a sustainable future
We acknowledge NN Group’s role and responsibility to help establish a sustainable economy. We do this through our investments, insurance and banking activities, and through our own operations, while supporting our stakeholders, particularly those who most need our help. As an insurer, we incorporate sustainability aspects into our underwriting and product development processes. As an active asset owner, we integrate sustainability factors into our investment process. Our approach is documented in our policies, standards and guidelines.
Our values care, clear, commit guide our interactions with all stakeholders. We aim to make a positive impact and contribute to the well-being of people, the planet and society. More information on our targets and how we are working to achieve them can be found in our Annual Report.
Sustainability is embedded in our governance
We have developed a governance structure that enables the Executive Board, Management Board, Supervisory Board and senior management to integrate sustainability matters and actions into strategy setting, execution and monitoring. This structure also supports the implementation of sustainability in our operations and business processes, and in our Risk Management, Compliance and Legal functions.
In June 2020, NN Group launched its climate strategy with the objective of moving towards net-zero greenhouse gas emissions by 2050. We also integrate environmental, social and governance (ESG) factors into our insurance business through both our investment and underwriting processes.
We have developed a Responsible Insurance Underwriting (RIU) policy which sets the minimum standard for implementing sustainability in our underwriting and related product development and risk management activities. This includes evaluating sustainability risks and opportunities associated with the product or service, as well as considering their potential impact on society and the environment. By systematically incorporating ESG due diligence, we can reflect NN Group’s values in the underwriting process and better align our business with our broader objectives and the expectations of society while minimising harm to people and the planet. This policy ensures we take a proactive approach to sustainability in our insurance underwriting and demonstrates our commitment to driving positive change.
Respecting people and the world we live in
The NN Group Human Rights Statement and the NN Group Environmental Statement reflect our commitment to human rights and the environment. The statements set out our approach to these topics in our roles as employer, insurer, business partner, investor and corporate citizen.
Products and services that add social and environmental value
We create products and services that add environmental and social value by offering solutions to our customers that encourage sustainable living and mobility, promote health and well-being, and help insure them against climate change-related risks. We also aim to address societal needs or add social value by reaching more vulnerable groups in society. This may include people such as migrant workers, low-income households, women, children, human rights defenders and indigenous people.
Sustainable living environment
We support customers in reducing their environmental footprint by empowering them to make their home or business more sustainable. Addressing negative impacts on the environment is also about preserving and restoring our ecosystems, biodiversity and much more. NN is one of the leading marine insurers in the Netherlands and aims to limit negative impacts to ocean ecosystems from climate change, pollution and overfishing. More information regarding our efforts in relation to biodiversity can be found in the Policies and Memberships section.
Sustainable mobility
We support our customers in shifting to more sustainable mobility solutions. We offer insurance for electric vehicles, including NN Belgium’s insurance for electric bikes. Through our partnership with klimaatplein.nl, we have developed a climate change prevention scan for SME companies.
Pension impact
As one of the first Dutch pension providers, BeFrank offers participants personal insight into the sustainability impact of their pension investments through an online sustainability dashboard. NN Slovakia established the first ESG pension fund in Slovakia. Since April 2024, BeFrank has also been B Corp certified. More information on the B Corp certification can be found on BeFrank’s website. Through Netherlands Life’s online pension platform, the Human Capital Planner (HCP), customers can see the impact of their life cycle investments in terms of CO2 reduction, water savings and waste reduction.
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Health and financial well-being
We promote health and well-being and aim to help people stay socially engaged. We support a carefree retirement for example through Zorggenoot, a platform which helps customers take care of their relatives or arrange the services they need. Our critical illness products in Central and Eastern Europe are supported by cancer awareness and prevention campaigns. Nationale-Nederlanden Spain’s ForYouWomen, is a community platform for women that provides information about the prevention and treatment of breast and gynaecologic cancers. We offer a similar concept in Poland.
We also offer help to customers who are or might become financially distressed.