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QBE Insurance Group Limited

PRI reporting framework 2018

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, and how they consider ESG factors and real economy impact.

The QBE investment principles and strategy are designed to meet return targets within pre-defined risk and capital constraints, while meeting regulatory requirements in every jurisdiction.  QBE has a low-risk investment philosophy the objective of which is to protect the value of capital while gaining exposure to assets that produce consistent and recurring incoming, thereby supporting QBE’s operational plans and goals. The approach incorporates both long term strategic asset allocation as well as shorter term dynamic and tactical asset allocation.

QBE is a significant investor in a large number of companies, and takes its responsibility as a capital provider seriously. 

QBE aims to contribute broadly to wellbeing and sustainable development through active ownership, and also believes that integrating principles of responsible investing into ownership and investment decision-making can have a positive impact on risk-adjusted financial returns.

QBE continues to enhance our investment approach. In 2017 we updated the RI strategy, increased external ESG research sources into the investment process, and increased ESG capability within the internal team. We updated our approach to incorporating ESG considerations into our internal credit selection, thereby making a significant change for the majority of the portfolio.

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]


SG 02. Publicly available RI policy or guidance documents

New selection options have been added to this indicator. Please review your prefilled responses carefully.

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

02.3. Indicate if your organisation’s investment principles, and overall investment strategy is publicly available

02.4. Additional information [Optional].


SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

QBE is committed to ensuring that actual, potential and perceived conflicts of interest are identified and avoided, or in situations where they cannot be avoided, that they are appropriately managed.

Conflicts of interest are circumstances where some or all of the interests of clients to whom QBE or our representative provides financial or related services, are inconsistent with or diverge from, some or all of the interests of QBE or our representatives. This includes actual, apparent and potential conflicts.

Employees, when representing QBE, must declare their interest when they see an actual or potential conflict of interest or a possible perception of a conflict of their personal interests with QBE, clients and financial markets.

Any conflicts are then dealt with under QBE existing policies or procedures. If the conflict is not dealt with under any QBE policy or procedure, the conflict must be appropriately reported.

Our governance approach supports QBE’s commitment to responsible investment. This includes our Code of Ethics and Conduct and our ongoing management of conduct risk.

03.3. Additional information. [Optional]


SG 04. Identifying incidents occurring within portfolios

04.1. Indicate if your organisation has a process for identifying and managing incidents that occur within portfolio companies.

04.2. Describe your process on managing incidents

          Within the Investment portfolio, all issuers are subject to ongoing monitoring by Portfolio Managers with a focus on credit rating, news flow or changes in financial outlook of the company, including daily monitoring. ESG considerations complement these practices, including issuers where there is increased potential for risk, including emerging controversies. This is supported by external ESG data providers and industry analysis.
        

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