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Swiss Re Ltd

PRI reporting framework 2020

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Objectives and strategies

SG 05. RI goals and objectives

05.1. Indicate if and how frequently your organisation sets and reviews objectives for its responsible investment activities.

05.2. Additional information. [Optional]

Asset-liability management (ALM) is the cornerstone of our investment philosophy. Premiums generated by our underwriting activities are invested in assets whose cash flows match the durations and currencies of our re/insurance liabilities, to meet future claims and benefits. Swiss Re is committed to investing its assets responsibly through a controlled and structured investment process that also reflects our commitment to corporate responsibility by integrating ESG criteria consistently along the investment process.

Within Asset Management, roles and responsibilities with respect to responsible activities have been defined to ensure that our investment process is aligned with the Group's sustainability objectives - in particular for the integration of ESG considerations in the investment process, for the exercise of our voting rights and for all corresponding reporting requirements.


SG 06. Main goals/objectives this year

06.1. List the main responsible investment objectives that your organisation set for the reporting year.

Responsible investment processes

Key performance indicator

          - ESG e-learning accessible by all employees 
- ESG knowledge-sharing sessions internally & externally provided
- Communicate on our approach to internal & external stakeholders
        

Progress achieved

- We provide access to our internal e-learning to all employees

- We attended several external and internal events to talk about and further explain our approach, such as

https://ratings.spglobal.com/19Q2-NAM-US-INS-Conf-Insurance-New-York-5-6-Jun_Insurance2019WebPosting.html

www.luxembourgforfinance.com/event/save-the-date-unep-fi-regional-roundtable-europe-global-landscapes-forum/

https://live.ft.com/Events/2019/FT-Investing-for-Good-Europe-Mainstreaming-ESG-2019

- We gave several interviews to make our approach more transparent, and released a brochure highlighting major changes in 2019

https://www.swissre.com/ri-our-approach

- We organised conference on responsible investing in practice to share first hand insights on the implementation of a responsible investing strategies, discuss policy developments and look at latest trends in stewardship across a fast-evolving market

https://www.swissre.com/institute/conferences/sustainability-leadership-responsible-investing.html

Key performance indicator

          - Speak about our ESG approach on internal events and promote it in various internal committees
- Write and release videos on the internal homepage about it
        

Progress achieved

- Awareness further increased, which enables us to further exchange with clients and other stakeholders on our Responsible Investing approach

Key performance indicator

          - Speak on public events about the opportunities ESG considerations provide
        

Progress achieved

- We released a brochure highlighting major changes on our ESG strategy in 2019, and updated related figures additionally

https://www.swissre.com/ri-our-approach

- Our Group CIO joined several panel discussions and other public events to promote ESG, such as the NZZ SIFF

https://www.nzz-siff.com/en/parallel-sessions/

https://www.swissre.com/institute/conferences/sustainability-leadership-responsible-investing.html#agenda

- Participated in several panels and other stakeholder events

- Bloomberg - Future of Finance:

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=2ahUKEwjWg83gjabnAhUSUt8KHTehDYEQFjAAegQIARAB&url=https%3A%2F%2Fdata.bloomberglp.com%2Fpromo%2Fsites%2F12%2F558700_FoF-Zurich.pdf&usg=AOvVaw1uQlYKTNRyjGen43CQk64x

https://www.buildingbridgesweek.ch/en/home

 

Key performance indicator

          - Strengthen ESG integration approaches on specific portfolios
- Start measuring and reporting on our impact investments under the inclusion pillar
        

Progress achieved

- Increased ESG integration within the listed equity portfolio by reallocating some standard ETFs into ESG ETFs

- Started to measure and report the SDG impact of our impact investments 

https://www.swissre.com/ri-our-approach

 

Financial performance of investments

Key performance indicator

          - Risk-adjusted returns
        

Progress achieved

We switched to ESG benchmarks for our actively managed listed equity and credit mandates in 2017, and implemented minimum ESG rating thresholds in case appropriate ESG benchmarks were not available.

In our brochure titled "Responsible Investing – Our approach", we again confirm ESG makes economic sense given better risk-adjusted returns as ESG risk is not fully compensated by financial markets yet. This analysis was conducted two years after our benchmark implementation.

ESG characteristics of investments

Key performance indicator

          - Switch to ESG benchmarks of better ESG rated companies
        

Progress achieved

In our brochure titled "Responsible Investing – Our approach", we again confirm ESG makes economic sense given better risk-adjusted returns as ESG risk is not fully compensated by financial markets yet. This analysis was conducted two years after our benchmark implementation.

Key performance indicator

          - Switch to ESG benchmarks of better ESG rated companies
        

Progress achieved

We switched to ESG benchmarks for our actively managed listed equity and credit mandates in 2017, and implemented minimum ESG rating thresholds in case appropriate ESG benchmarks were not available. We regularly review our approach and refine it as part of our ongoing quest for improvement.

Other activities

Key performance indicator

          - Participation in various working groups, such as the FSB TCFD and the European Commission's Technical Expert Group on Sustainable Finance
        

Progress achieved

- We are members of both working groups listed above

Key performance indicator

          - Information sharing on experience with implementing ESG practices
        

Progress achieved

In our brochure titled "Responsible Investing – Our approach", we again confirm ESG makes economic sense given better risk-adjusted returns as ESG risk is not fully compensated by financial markets yet. This analysis was conducted two years after our benchmark implementation.

Key performance indicator

          - Communicate on our ESG approach
        

Progress achieved

- After the release of our publication, we offered several meetings with asset owners, investment managers and government-related organisations. Furthermore, we attended events, and panel discussion to provide further explanation on our approach.

06.2. Additional information.

For further information, please see:

https://www.swissre.com/responsible-investing


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