EXAMPLE PAGE - ANNUAL REPORT - THE SWEDISH CLUB - Flipbook - Sida 40
SUSTAINABILITY
Sustainability
report
The Swedish Club’s ESG (environmental, social and governance) policy, based on four of the UN’s Sustainable Development
Goals, establishes a common view on what sustainability means for the Club, and provides guidance to employees and
members.
During 2021, the Club’s ESG focus was on mapping emerging initiatives, and understanding better the Club’s role in
supporting the transition to a low-carbon future.
It also played a proactive role as a member of the International Group’s Sustainability Committee, which will shortly publish
its first sustainability report to cover 2021.
The Swedish Club business model
The Swedish Club (hereafter the Club) is an
independent, self-managed, mutual
insurance company headquartered in
Gothenburg, Sweden, with offices in Hong
Kong, Oslo, London, and Piraeus. It has been
in existence since 1872. As of 31 December
2021, the number of staff was 124.
Mutuality means that the Club is owned
and controlled directly by the policyholders
(hereafter members). The interests of the
Club’s management and Board of Directors
are, therefore, identical to the collective
interests of the members. The mutual
nature and self-management of the Club
put it at a unique place among its
competitors.
As an insurance company, the Club is
subject to stringent regulatory requirements,
prompting equally stringent regulatory
compliance. Sound business practices and
stability in the operations are safeguarded by
robust processes for internal control and a
holistic enterprise risk management system.
This system is carried out through a control
cycle that involves the systematic
identification, valuation, monitoring and
reporting of all existing and emerging risks.
The Club’s assessment of its risks and how
The Club’s purpose is to provide marine
insurance to shipowners and other ship
operators worldwide. The liability insurance
(P&I) provided by the Club, and through the
Club’s reinsurance arrangements, is a key
factor in enabling world seaborne trade, the
protection of the marine environment, and
the lawful interests of both public and
private victims of maritime accidents.
Therefore, the Club’s core business is a vital
component for supporting a wellfunctioning and sustainable society.
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THE SWEDISH CLUB ANNUAL REPORT 2021
these risks are managed are regularly
reported to the Swedish Financial
Supervisory Authority and other
stakeholders, internally and externally.
The Club’s core values are Committed,
Reliable and Proactive. These core values
are central to the Club’s operations and
sustainability over time.
Further details of the Club’s business model
can be found in the Annual Report 2021.