Kiwi rural insurer FMG has recently been awarded the B Corp certification, making it the nation's sole general insurer to secure this globally recognised status.
The B Corp certification signifies FMG's adherence to some of the world's most stringent standards in social and environmental performance, along with transparency and accountability.
Adam Heath, FMG CEO, emphasised the significance of this achievement in enhancing FMG’s services and solutions.
“It means attracting and retaining the best people so we can continue to provide fit-for-purpose advice and insurance solutions, backed by great service. Partnering with like-minded suppliers is also key, so we can all ‘do our bit’ for our people, local communities, and the planet,” Heath said.
For over a century, FMG has been a key player in supporting rural communities' wellbeing and prosperity. The B Corp certification aligns with this longstanding commitment. Heath underlined the importance of this certification in FMG's journey, viewing it as an extension of the company’s dedication to rural New Zealand.
“New Zealand’s farmers and growers are working hard to be the heroes of this country’s sustainability story, and our clients expect businesses like FMG to lead by example,” Heath said. “As a licenced insurer, FMG is also committed to climate-related disclosure and reporting standards, adding another level of assurance for the Mutual’s approach to remaining a sustainable insurer and business.”
FMG's strategic partners, including reinsurers, are also engaged in environmental, social, and governance (ESG) frameworks. This collective effort contributes to a broader, more sustainable approach within the industry.
The CEO also remarked on the journey towards B Corp certification, a process that took nearly three years, attributing the duration to the high demand for certification and its challenging nature. He reflected on the parallels between the B Corp community and rural community groups, particularly their emphasis on collaborative problem-solving and a supportive, non-competitive environment.
“It’s also imperative for the mutual’s future success that we continue to attract and retain the best people to deliver on our Vision of helping to build strong and prosperous rural communities. Not only is being a B Corp known to attract like-minded people, it also measures success against how well those B Corp organisations look after them. Continuing to invest in our people is critical for FMG’s future success, ensuring that we remain a relevant and sustainable insurer for the next 118 years,” Heath said.
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