As the World Business Council for Sustainable Development reminds us – ‘Business cannot succeed in a society that fails’.¹ Long term success means we must connect to the world around us. We don’t operate in a vacuum. Issues like road safety, workplace safety, climate change and crime are issues that we should actively tackle. Focusing only on short term results and ignoring the big issues facing us, is simply not an option.
IAG’s business is growing. Just five years ago, almost all of IAG’s business was in Australia. Now more than 25% of our business is written overseas. New Zealand remains our second biggest market with about 13% of our gross written premium generated there, ahead of the United Kingdom at about 10%. Premiums written in Asia now make up around 3% of our business.
As our business grows, so does the opportunity to make a difference. Improving the chances of someone making a full recovery after being injured in a car crash; working to reduce crime; partnering with government and others to help communities adapt to the impacts of climate change; and creating a workplace where people enjoy coming to work; these are just some of the ways we seek to operate to ensure success for the long term.
Engaging with some of the big social and environmental issues facing us is not easy; we need to keep delivering strong results for our shareholders, customers and employees on an ongoing basis. We also need to have an eye on the world around us, and the future.
We know our approach has currency, attracts investors, delivers value for our business, inspires our employees and positively affects the world in which we operate.
¹ World Business Council for Sustainable Development
www.wbcsd.org