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Swiss Re Ltd

PRI reporting framework 2020

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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 - Fixed Income
ESG incorporation in actively managed fixed income [FI 01 - 12] Implementation processes [FI 01 - 03] (A) Implementation: Screening [FI 04 - 06] (B) Implementation: Thematic [FI 07 - 09] (C) Implementation: Integration [FI 10 - 12] Outputs and outcomes [FI 17 - 18]
Direct – Private Equity
Overview [PE 01 - 02] Pre-investment (selection) [PE 05 - 08] Post-investment (monitoring) [PE 09 - 13] Outputs and outcomes [PE 14 - 15]
Direct - Property
Overview [PR 01] Pre-investment (selection) [PR 04 - 06] Selection, appointment and monitoring third-party property managers [PR 07] Post-investment (monitoring and active ownership) [PR 08 - 14] Overview [PR 08] Property monitoring and management [PR 09 - 10] Property developments and major renovations [PR 11] Occupier engagement [PR 12 - 13] Community engagement [PR 14] Outputs and outcomes [PR 15 - 16]
Confidence building measures
Confidence building measures [CM1 01 - 07]
Export Public Responses
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You are in Direct – Private Equity » Overview

Overview

PE 01. Description of approach to RI

01.1. Provide a brief overview of your organisation’s approach to responsible investment in private equity.

ESG considerations are fully embedded within our investment process, from screening, through diligence, the initial investment decision, monitoring & development of the investment over time, to exit.

Based on our strategy (accessing risks less available via traditional reinsurance and portfolio investing by taking meaningful stakes in insurance or insurance-linked companies) we find that social and governance issues warrant significant attention - especially considering the regulated nature of the insurance industry and Swiss Re's long-term core business interests and activities. Swiss Re has an interest in its investee companies developing along a sustainable path that goes beyond the financial return of that single investment.

PE 02. Investment guidelines and RI

02.1. Indicate whether your organisation’s investment activities are guided by a responsible investment policy / follow responsible investment guidelines.

02.2. Describe how your organisation outlines expectations on staff and portfolio companies’ approach towards ESG issues in investment activities.

ESG requirements are prescribed in our Group Sustainable Business Risk Framework as well as Asset Management, Responsible Investing and Voting and Engagement policies, issued by the Group CIO. Direct equity investments are made in accordance with these policies and frameworks. ESG considerations are embedded in the investment process and are reviewed by the ESG Advisory Board.

Additionally, the Corporate Transaction Policy which governs direct private equity and principal investments more granularly, specifically requires confirmation of ESG issues in direct investment memoranda which form the basis for investment decisions (initial investment, shareholder action post investment, and exit). All employees in the direct private equity organisation within Swiss Re must adhere to these policies.

Swiss Re's approach to exclusion is based on the internal group-wide Sustainable Business Risk Framework setting criteria for what is being considered as acceptable business. Consisting of two umbrella policies on human rights and environmental protection, and eight guidelines on sensitive sectors or issues, the framework enables Swiss Re to identify and assess major sustainability risks. Each policy defines criteria for excluding specific companies and countries from our (re-) insurance and investment universe.
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