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VidaCaixa

PRI reporting framework 2019

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Organisational Overview
Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - HF 01]
Strategy and Governance
Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Asset class implementation not reported in other modules [SG 16 - 17] Innovation [SG 18] Communication [SG 19]
Indirect – Manager Selection, Appointment and Monitoring
Listed Equity and Fixed Income Strategies [SAM 01] Selection [SAM 02 - 03] Appointment [SAM 04] Monitoring [SAM 05 - 07] Outputs and outcomes [SAM 08 - 09]
Direct - Listed Equity Incorporation
ESG incorporation in actively managed listed equities [LEI 01 - 10] Implementation processes [LEI 01 - 10] (A) Implementation: Screening [LEI 04 - 06] (C) Implementation: Integration of ESG factors [LEI 08 - 10] ESG incorporation in passively managed listed equities [LEI 11] Outputs and outcomes [LEI 12 - 13]
Direct - Listed Equity Active Ownership
Overview [LEA 01] Engagement [LEA 02 - 08] Outputs and outcomes [LEA 09 - 11] (Proxy) voting and shareholder resolutions [LEA 12 - 21]
Direct - Fixed Income
ESG incorporation in actively managed fixed income [FI 01 - 12] Implementation processes [FI 01 - 03] (A) Implementation: Screening [FI 04 - 06] (C) Implementation: Integration [FI 10 - 12] Fixed income - Engagement [FI 14 - 16] Outputs and outcomes [FI 17 - 18]
Confidence building measures
Confidence building measures [CM1 01 - 07]
Export Public Responses
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You are in Organisational Overview » Basic information

Basic information

OO 01. Signatory category and services

01.1. Select the type that best describes your organisation or the services you provide.

01.3. Additional information. [Optional]

VidaCaixa is the leading insurance Company in Spain and integrated into CaixaBank holds 49.9% of SegurCaixa Adeslas.

VidaCaixa is an insurance company that designs, manages and markets life insurance as well as offering pension plan management to both individual customers and corporate clients.

We are proud to belong to one of the main financial groups in the Spanish market, whose fundamental values - quality, trust and social commitment - guide us in everything we do. 

OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

Spain

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

528 FTE

02.4. Additional information. [Optional]

  • It is emphasized that 54,2% of the workforce of VidaCaixa are women. Is strategic for VidaCaixa to increase the women promosion inside the company. 
  • In December 2017, the purchase of a 100% BPI Vida e Pensoes  was formalized by VidaCaixa. It is one of RI goals to replicate the VidaCaixa RI method to BPI Vida e Pensoes. It has been started in 2018 and It will continue in 2019-2021 as part of VidaCaixa strategic plan.

OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

BPI Vida e Pensoes as a VidaCaixa subsidiaries is not still a PRI signatorie. The company is a subsidiary of VidaCaixa recently (dic-2017) and It has started to work in RI concepts. Our objective for BPI Vida e Pensoes is to replicate the VidaCaixa RI model and is part of the VidaCaixa strategic plan 2019-2021, for that reason, to be PRI signatorie will be considered.

OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2018

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2
Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.5. Additional information. [Optional]

Those AUM include the Insurance Company and UL assets and the Pensions Funds and EPSV. All those assets are manage by VidaCaixa and follows the same RI method. BPI Vida e Pensoes is also included were RI it has been started to be implemented and it will contiue the following three years. 

OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity <10% 6 <10% 7.8
Fixed income >50% 69.5 <10% 3.7
Private equity 0 0 <10% 0.5
Property <10% 0.4 <10% 0.4
Infrastructure 0 0 <10% 0.1
Commodities 0 0 <10% 0.3
Hedge funds 0 0 <10% 0.8
Fund of hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash <10% 2.5 0 0
Money market instruments <10% 6.8 <10% 0.2
Other (1), specify <10% 1 0 0
Other (2), specify 0 0 0 0

'Other (1)' specified 

          It is mainly the % in non-listed equity where VidaCaixa has a position as a stakeholder (ie. BPI VeP and SegurCaixa Adeslas)

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]

The Insurance asset are mainly invested as a hedging of their liabilities (mainly live insurance policies). A cause of the regulation and the company risk profile, those asset are invested in fixed income and are done internally. Is for that reason than fixed income is the most important proportion of our portfolio.

The Pension Funds, Unit Linked and EPSV are invested using the diversification advantages (different asset types and geographies). For some asset is doing internally with the VidaCaixa investment team and others are done through third parties funds properly selected by an specializes external selection team in VidaCaixa. Is for that reason than in the split there are equity, property, private equity, etc, and the external managed is significant.

OO 07. Fixed income AUM breakdown (Private)

OO 08. Segregated mandates or pooled funds (Private)

OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

97.7 Developed Markets
2.3 Emerging Markets
0.0 Frontier Markets
0 Other Markets
Total 100% 100%

09.2. Additional information. [Optional]

The Insurance company can only invest in OCDE markets. The exposure to emerging markets is comming from Pensions Funds, Unit Linked and EPSV. 
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