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Zurich Insurance Group

PRI reporting framework 2020

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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]

Zurich is a leading multi-line insurer that serves its customers in global and local markets. With about 55,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 215 countries and territories. Zurich's customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations.


OO 02. Headquarters and operational countries

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

Switzerland

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).

620 FTE

02.4. Additional information. [Optional]

FTE figure comprises Zurich's Investment Management organization, i.e., all staff with line reporting into the Group Chief Investment Officer.


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]


OO 04. Reporting year and AUM

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

31/12/2019

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]

Starting in 2017, assets under management comprise the investment portfolio calculated on a market basis (previously on a book value basis), and differs from the total Group investments reported in the consolidated financial statements, which is calculated on an accounting basis and doesn't include cash and cash equivalents.


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% 1.08 <10% 4.12
Fixed income 10-50% 23.06 >50% 55.27
Private equity 0 0 <10% 0.81
Property <10% 6.8 <10% 0.44
Infrastructure 0 0 0 0
Commodities 0 0 0 0
Hedge funds 0 0 0 0
Fund of hedge funds 0 0 <10% 0.91
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash <10% 4.78 <10% 0.37
Money market instruments 0 0 0 0
Other (1), specify <10% 2.38 0 0
Other (2), specify 0 0 0 0

`Other (1)` specified

          Mortgages
        

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]

Private equity and hedge funds: Zurich invests in private equity predominantly through a selection of third-party private equity fund managers. Zurich manages only a relatively small amount of direct private equity investments made either through co-investments (in-scope for environmental, social and governance or 'ESG' integration - see OO 11.4 for further details) or as part of 'legacy' portfolios (out-of-scope for ESG integration). The same strategy applies for hedge funds.

Real estate: in a selected number of instances, real estate portfolios are managed by external asset managers. In such cases, the same processes apply as described in SAM 02.5.


OO 07. Fixed income AUM breakdown

07.1. Provide to the nearest 5% the percentage breakdown of your Fixed Income AUM at the end of your reporting year, using the following categories.

Internally managed
60 SSA
10 Corporate (financial)
30 Corporate (non-financial)
0 Securitised
Total 100%
Externally managed
35 SSA
15 Corporate (financial)
35 Corporate (non-financial)
15 Securitised
Total 100%

OO 08. Segregated mandates or pooled funds

New selection options have been added to this indicator. Please review your prefilled responses carefully.
Provide a breakdown of your organisation’s externally managed assets between segregated mandates and pooled funds or investments.
Asset class breakdown
Segregated mandate(s)
Pooled fund(s) or pooled investment(s)

Total of the asset class

(each row adds up to 100%)

[a] Listed equity
100%
[b] Fixed income - SSA
100%
[c] Fixed income – Corporate (financial)
100%
[d] Fixed income – Corporate (non-financial)
100%
[e] Fixed income – Securitised
100%
[f] Private equity
100%
[g] Property
100%
[j] Fund of hedge funds
100%
[n] Cash
100%

08.2. Additional information. [Optional]

The information provided above is based on assumptions and expert judgment. Data about the split between segregated mandates and pooled funds is not systematically collected for all asset classes listed above. Zurich invests in private equity and hedge funds predominantly through a selection of third-party fund managers, whereas segregated mandates dominate in almost all other asset classes.


OO 09. Breakdown of AUM by market

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

93 Developed Markets
6.1 Emerging Markets
0.2 Frontier Markets
0.7 Other Markets
Total 100% 100%

09.2. Additional information. [Optional]


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