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SUSTAINABLE INVESTING

Enstar recognises the importance of considering ESG risks and opportunities alongside traditional financial criteria in making investment decisions. Enstar’s Investment Department considers ESG factors alongside strategies, companies, sectors, geographies and asset classes, while focusing on maximisation of risk-adjusted investment returns.


Our investment objective is to obtain attractive, risk-adjusted investment returns, consistent with the preservation of capital, liquidity and prudent diversification of portfolio assets, while operating within the constraints imposed upon a global regulated (re)insurance company.

Our sustainable investment goal is to be able to assess and monitor the impact of the ESG-related exposures in our existing portfolio and prospective investments.
Our investment portfolio is primarily managed by external managers, through the execution of investment management agreements and investment guidelines negotiated by the Enstar Investment Department. Enstar’s Investment Department retains responsibility for management and oversight of external asset managers and the day-to-day operations of the portfolio.

Monitoring

To monitor the ESG exposures and characteristics of our investment portfolio, Enstar uses a combination of third-party ESG research tools and internal analysis to ensure compliance with responsible investment policies. We have implemented the following ESG oversight policies in our investment portfolio monitoring:

  • A minimum average ESG rating of BBB- for Enstar’s corporate bond securities
  • Tracking GHG Scope 1–2 emissions intensity for Enstar’s corporate bond and public equity positions, which is not to exceed the weighted average carbon emissions intensity score of applicable benchmark indices.

 

Our latest ESG investment information can be found in our ESG report.

 

"We all have a role to play in ensuring we have a positive impact on society and the environment. We have made great strides on our ESG journey and I am proud of how far we have come."
STEPHEN HOGAN, HEAD OF ESG

 

Impact Investments

Enstar periodically considers allocating capital to impact and sustainable investments, providing they are consistent with our overall portfolio risk/return objectives and liquidity guidelines, while incorporating sufficiently high standards of impact definition, measurement and reporting.

An example of this is our long-term investment in the Neuberger Berman Private Equity Impact Fund, which invests principally in investment themes that aim to bring about positive social and environmental outcomes aligned to the UN Sustainable Development Goals, particularly in relation to the improvement of sustainable growth and employment; health outcomes; gender equality; climate change and energy needs; and conservation of the natural environment.

We will continue to explore and implement ways to increase the positive social and environmental impact of the investment activities that are carried out on our behalf.

Assessment Framework

Enstar’s ESG assessment framework evaluates asset managers across the following areas:

  • Policies and commitments to standards
  • Investment process
  • Governance
  • Communication and reporting
  • Diversity, equity and inclusion

 

As of 31 December 2023, approximately 91% of Enstar’s externally managed assets were managed by asset managers who are signatories of the UN Principles of Responsible Investment, reflecting our commitment to the integration and advancement of ESG principles.

 

QUICK STATS

$bn

Assets
December 31, 2023

$bn

Liabilities
December 31, 2023

$bn

Shareholders' equity
December 31, 2023

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Total acquisitive transactions since formation