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AG Insurance

PRI reporting framework 2020

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Asset class implementation gateway indicators

OO 10. Active ownership practices for listed assets

10.1. Select the active ownership activities your organisation implemented in the reporting year.

Listed equity – engagement

10.2. Indicate why you do not engage and do not require external managers to engage.

Currently engagement is only implemented in our unit linked (Branch 23) sustainable funds (~1.3 bln euros). In our traditional products/funds/portfolios we don't engage yet for internally managed assets due to a lack of resources nor specifically ask our external managers to engage on our behalf. 

Listed equity – voting

10.3. Indicate why you do not cast your votes

Currently proxy voting is only implemented in our unit linked (Branch 23) sustainable funds (~1.3 bln euros). In our traditional products/funds/portfolios we don't vote due to a lack of resources for internally managed assets and because we don't want our managers to vote -potentially- against our values for externally managed assets.

Fixed income SSA – engagement

Please explain why you do not engage directly and do not require external managers to engage with companies on ESG factors.

          Currently engagement is only implemented in our unit linked (Branch 23) sustainable funds (~1.3 bln euros). In our traditional products/funds/portfolios we don't engage yet for internally managed assets due to a lack of resources nor specifically ask our external managers to engage on our behalf.
        

Fixed income Corporate (financial) – engagement

Please explain why you do not engage directly and do not require external managers to engage with companies on ESG factors.

          Currently engagement is only implemented in our unit linked (Branch 23) sustainable funds (~1.3 bln euros). In our traditional products/funds/portfolios we don't engage yet for internally managed assets due to a lack of resources nor specifically ask our external managers to engage on our behalf.
        

Fixed income Corporate (non-financial) – engagement

Please explain why you do not engage directly and do not require external managers to engage with companies on ESG factors.

          Currently engagement is only implemented in our unit linked (Branch 23) sustainable funds (~1.3 bln euros). In our traditional products/funds/portfolios we don't engage yet for internally managed assets due to a lack of resources nor specifically ask our external managers to engage on our behalf.
        

Fixed income Corporate (securitised) – engagement

Please explain why you do not engage directly and do not require external managers to engage with companies on ESG factors.

          Currently engagement is only implemented in our unit linked (Branch 23) sustainable funds (~1.3 bln euros). In our traditional products/funds/portfolios we don't engage yet for internally managed assets due to a lack of resources nor specifically ask our external managers to engage on our behalf.
        

OO 11. ESG incorporation practices for all assets

11.1. Select the internally managed asset classes in which you addressed ESG incorporation into your investment decisions and/or your active ownership practices (during the reporting year).

Listed equity

Fixed income - SSA

Fixed income - corporate (financial)

Fixed income - corporate (non-financial)

Property

Cash

Money market instruments

Other (1)

`Other (1)` [as defined in OO 05]

          Other (1) = Branch 23 (Unit Linked) Closed end - Capital protected products
        
Select the externally managed assets classes in which you and/or your investment consultants address ESG incorporation in your external manager selection, appointment and/or monitoring processes.
Asset class
ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes
Listed equity

Listed equity - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - SSA

Fixed income - SSA - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - corporate (financial)

Fixed income - corporate (financial) - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - corporate (non-financial)

Fixed income - corporate (non-financial) - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - securitised

Fixed income - securitised - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Private equity

Private equity - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Property

Property - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Infrastructure

Infrastructure - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fund of hedge funds

Fund of hedge funds - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Money market instruments

Money market instruments - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

11.4. Provide a brief description of how your organisation includes responsible investment considerations in your investment manager selection, appointment and monitoring processes.

For all asset clases managed externally, AG Insurance prioritises asset managers who are UN PRI signatory which means de facto that the asset managers need to integrate ESG considerations in their investment management activities. Furthermore, the asset managers need to have a responsible investment policy in place. On a yearly basis, all external managers are reviewed during a SRI Monitoring Committee.

For sustainable funds, on top of what we do for all products, we only select asset managers in the top ESG Rating category i.e. managers with the best ESG practices.


OO 12. Modules and sections required to complete

12.1. Below are all applicable modules or sections you may report on. Those which are mandatory to report (asset classes representing 10% or more of your AUM) are already ticked and read-only. Those which are voluntary to report on can be opted into by ticking the box.

Core modules

RI implementation directly or via service providers

Direct - Listed Equity incorporation

Direct - Fixed Income

Direct - Other asset classes with dedicated modules

RI implementation via external managers

Indirect - Selection, Appointment and Monitoring of External Managers

Closing module

12.2. Additional information. [Optional]


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