Zurich is one of the world’s leading insurance groups with a mission to help customers to ‘understand and protect themselves from risks’. It is seeking to reduce flood risk through preventive action and in 2013 it launched a global flood resilience programme. This involved building partnerships with several organizations including the Red Cross and Red Crescent, and Wharton Business School. It runs interventions with communities in Mexico, Indonesia, Nepal, Peru, and Bangladesh. Zurich believes that for every dollar spent on flood risk reduction, five dollars are saved through avoided and reduced losses.
The adoption of the Economics of Mutuality will depend on institutional investors promoting it through active engaged investing. Chapter 18 describes how some investment funds are taking an active role in managing the companies in which they are invested. It involves them acquiring significant blocks of shares that are held for extended periods of time and managed directly by asset owners themselves instead of by intermediary asset managers. Critical to this is the way in which the performance of their investments is monitored and measured. Alongside measuring financial performance over longer periods of time than is conventionally the case, performance needs to be assessed in relation to other indicators of performance related to human, social, and natural capital.
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