Our portfolio of FI investments is an integral part of our prudent asset-liability management approach. This portfolio is reviewed against relevant ESG rating and factor level considerations at country level. Swiss Re's Financial Risk Management department performs the screening of the internally managed FI portfolio against the ESG ratings and factors on a monthly basis. If any positions are identified which fall below a pre-defined ESG rating threshold, the portfolio manager has to provide further analysis to the nature and rationale for the investment.
The complete analysis is periodically presented for review to the Asset Management Investment Committee (AM IC) chaired by the Group Chief Investment Officer as well as to the ESG Advisory Board.
In addition, Swiss Re applies the Sustainable Business Risk Framework, consisting of two umbrella policies on human rights and environmental protection, and eight guidelines on sensitive sectors or issues. Each of these policies and guidelines contain a number of predefined criteria and qualitative standards that may lead to the exclusion of a company or a country from the (re-)insurance and investment universe.