Robus gets Guernsey ESG kitemark for its PCC and ICC structures

Robus, an insurance management, fiduciary and financial advisory firm that is part of the wider Ardonagh insurance and reinsurance Group, has received a green ESG kitemark accreditation for both its Protected Cell Company (PCC) and Incorporated Cell Company (ICC).

The green kitemark has been accredited under the Environmental, Social and Governance (ESG) Framework developed by the Guernsey International Insurance Association (GIIA).

Guernsey had said last year that it wanted to make available a green kitemark for insurance-linked securities (ILS) structures transacting there, enabling ILS issuers to apply for the ability to verify the environmental, social and governance (ESG) credentials of an arrangement.

Robus’ protected cell and incorporated cell structures are the first to achieve this it appears.

Robus said that it has worked to ensure its cell companies meet the criteria outlined within the Guernsey ESG Framework, adding that its accreditation has also been independently reviewed by ESI Monitor, a Guernsey based ESG benchmarking company.

The GIIA ESG Framework uses ESI Monitor to provide an independent assessment of members and grant the kitemark to those meeting its criteria.

Adele Gale, Director of Robus Guernsey and Deputy Chair of the GIIA, has also been instrumental in working to develop the ESG Framework.

Gale commented, “What the framework seeks to achieve is behavioural change. There is a strong desire within the industry to bring ESG discussions into the boardroom and our aspiration in creating this framework is to make those discussions accessible to all our Guernsey based (re)insurers, managers and prospects. I am delighted that Robus is leading by example and has received accreditation for its PCC and ICC.”

Environmental, Social and Governance (ESG) an increasing area of focus across insurance-linked securities (ILS), reinsurance and more broadly the corporate world, Robus’ cell structures now have a level of accreditation that may prove appealing for those looking to adhere to ESG guidelines.

Robus’ PCC and ICC structures can can be used to structure investment products, hold assets, and also as a Special Purpose Vehicle (SPV) for securitisation transactions, including insurance-linked securities (ILS) and collateralised reinsurance.

Robus became part of the wider Ardonagh Group last year, when managing general agent Geo Underwriting acquired the insurance manager.

ESG investing and the opportunities it presents are a growing focus for the insurance-linked securities (ILS) market. Read more of our insights on this topic here.