The value of the life insurance industry extends far beyond premium dollars and taxpayer savings; it also has a positive and lasting impact on the communities in which life insurers operate.

The MetLife Value of Life Insurance report explores how MetLife, and other financial services organisations in Australia and internationally, regularly commit funds and resources to positively impact the communities they serve.

In the United States, consulting firm McKinsey estimates the insurance industry donates between US$560 million and US$600 million annually with a focus on education, health and social services, and community. This figure has remained steady since 2015, demonstrating the ongoing focus of the insurance industry on supporting communities.

Activities in support of community can range from staff volunteering and charitable donations, to socially conscious investment choices, reducing the negative environmental impacts of operations and education to influence staff and partners.

MetLife’s corporate social responsibility (CSR) strategy encompasses a range of initiatives, including:

  • MetLife Foundation
    The MetLife Foundation partners with non-profit organisations and social enterprises to create financial health solutions and build stronger communities. Since its inception in 1976, MetLife Foundation has positively impacted more than 13.4 million low- and moderate-income individuals in 42 countries and has donated US$860 million globally.
  • MetLife environmental stewardship
    MetLife has a longstanding commitment to environmental stewardship, and in 2016 was the first United States insurer to achieve carbon neutrality. Investments that achieve both a positive financial return and promote social and/or environmental benefits, such as affordable housing and renewable energy projects, are a key focus for the business. MetLife’s global 2030 environmental goals include targets for investing in climate change initiatives, green investments and renewable energy, to ensure customers’ funds are being used to make a positive impact.
  • Local programs
    In Australia, MetLife participates in local programs that support positive outcomes including a long-term partnership with Habitat for Humanity, a Reconciliation Action Plan, and ongoing work with the Banking and Finance Oath to raise the ethical standards of the industry. This commitment to corporate social responsibility is further entrenched through a partnership with the Royal Botanic Gardens to provide immersive cultural training with the Australian land as well as contribute to our global environmental goals with proactive tree planting and greening program initiatives.

Studies by the World Health Organisation show that targeted investing in health and social services contributes to improving human welfare. To that end, life insurer investments in health, education and social services translate to investments in stimulating the wider economy, as well as supporting local communities.

Download a copy of the MetLife Value of Life Insurance report.