This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Sharing Views On Shared Value At Davos

DAVOS, Switzerland, Jan. 24, 2014 /PRNewswire/ -- "Success is not only about the commercial value we can deliver, but also about how we can best integrate societal needs into our business models." This was the message from XL Group's CEO Mike McGavick when addressing a gathering of leading CEOs attending a Harvard Business Review event held yesterday at the World Economic Forum.

The CEOs met to discuss the concept of Shared Value - first put forward back in 2006 by Harvard University Professor Michael E. Porter and Mark R. Kramer, Managing Director, FSG and Senior Fellow, CSR Initiative at Harvard's Kennedy School of Government. In 2011 they followed up with "Creating Shared Value," arguing that focusing on the connection between societal and economic progress will help unleash a wave of global innovation and growth.

Opening the meeting, Mike McGavick said: "How we respond to potential clients and employees who ask not 'What can you do for me?' but rather 'What are you doing for society?' in many ways defines the success of our companies."  

The issue of Shared Value being on the agenda during Davos is an indication of how some of the world's largest corporations are now sitting up in a post financial crisis world and are turning their attention to the concept.

Speaking on the role insurers must play in a world in which Shared Value is a driving force, McGavick said: "As companies look to move forward and develop strategies that respond to 21 st century realities -like their customers' changing needs, new technologies, and the fight for talent - insurers must be ready with new solutions and products that cover these risks. But that's not all; we also need to look at our own operations and industry. Shared Value presents opportunities to advance our business and the economic and social conditions in communities. Big questions need to be asked, there are huge challenges, but massive opportunities" McGavick concluded.

To read an article on Shared Value visit http://xlgroup.com/fast-fast-forward

About XL Group plc

XL Group plc (NYSE:XL), through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. XL is the company clients look to for answers to their most complex risks and to help move their world forward. To learn more, visit www.xlgroup.com

XL Group is the global brand used by XL Group plc's insurance and reinsurance subsidiaries.

SOURCE XL Group

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,046.11 -75.90 -0.44%
S&P 500 2,000.12 +0.10 0.00%
NASDAQ 4,569.6210 -1.0160 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs