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QBE Insurance Group Limited

PRI reporting framework 2019

You are in Indirect – Manager Selection, Appointment and Monitoring » Outputs and outcomes

Outputs and outcomes

SAM 08. Percentage of externally managed assets managed by PRI signatories (Private)


SAM 09. Examples of ESG issues in selection, appointment and monitoring processes

09.1. Provide examples of how ESG issues have been addressed in the manager selection, appointment and/or monitoring process for your organisation during the reporting year.

Topic or issue
          TCFD Reporting
        
Conducted by
Asset class
Scope and process

In 2018, in line with QBE's commitment to the Financial Stability Board’s Task Force on Climate‑elated Financial Disclosures (TCFD) recommendations, we honed our strategic focus on climate change management and disclosure. As part of this we incorporated into our annual ESG reviews with managers a component asking them to advise us of their position on the TCFD and encourage them to report in line with them.

Outcomes

Different investments / managers had differing levels of knowledge and understanding of the TCFD. For those who were at a more basic level this was a great signalling tool to demonstrate to them how material this issue is to QBE for the more sophisticated it enabled discussions on what thoughts we had on what we would like to see going forward.

Topic or issue
          Gender Equality
        
Conducted by
Asset class
Scope and process

 In 2018 QBE updated the external manager selection appointment and monitoring process with external managers to embed ESG considerations. The ESG review is incorporated in the annual reviews with external managers, and where required, more frequent quarterly meetings; and investor briefings.

The reviews in 2018 included ESG, and specific consideration of TCFD and gender, which are consistent with consistent with QBE’s support for TCFD and QBE’s its support for the UN WEPs and as an issuer of one of the first Gender Equality Bonds (Social Bond).

Outcomes

Initial engagement with managers raised the issue with external managers, particularly those in private equity and infrastructure.

Discussion of approach to gender equality and diversity; the organisations approach to gender diversity and inclusion at board and management level; appropriate policy and practice within the organisation; along with the consideration of gender and diversity lens to investee companies and supply chain.

Initial reviews highlighted those organisations which have given consideration to gender equality in relation to risk and opportunities, and identified some leading managers, along with others lagging.

Topic or issue
          Gender Equality
        
Conducted by
Asset class
Scope and process

 In 2018 QBE updated the external manager selection appointment and monitoring process with external managers to embed ESG considerations. The ESG review is incorporated in the annual reviews with external managers, and where required, more frequent quarterly meetings; and investor briefings.

The reviews in 2018 included ESG, and specific consideration of TCFD and gender, which are consistent with consistent with QBE’s support for TCFD and QBE’s its support for the UN WEPs and as an issuer of one of the first Gender Equality Bonds (Social bond).

Outcomes

Initial engagement with managers raised the issue with external managers, particularly those in private equity and infrastructure.

Discussion of approach to gender equality and diversity; the organisations approach to gender diversity and inclusion at board and management level; appropriate policy and practice within the organisation; along with the consideration of gender and diversity lens to investee companies and supply chain.

Initial reviews highlighted those organisations which have given consideration to gender equality in relation to risk and opportunities, and identified some leading managers, along with others lagging.

09.2. Additional information.


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