Dialogue with clients and industry partners

We regularly engage with our clients and industry partners to promote sustainable business practices. Our discussions focus on specific transactions and key challenges.

Through the Sustainability Risk Framework we integrate environmental and human rights considerations throughout our re/insurance business and our investments. We discuss issues directly with our clients, based on the due-diligence assessment of our business transactions, and contribute to general discussions of salient sustainability topics.

Assessing our business transactions

The Sensitive Business Risk (SBR) process is our principal means to assess the sustainability of individual transactions. It comprises two due-diligence mechanisms - the online SBR assessment tool and the SBR referral tool. If a transaction is identified by the assessment tool to harbour a potentially high environmental and/or human rights risk, it is automatically referred to our in-house sustainability experts for an in-depth examination. They issue a binding recommendation to proceed with the transaction, to abstain from it or to proceed with conditions.

Discussing SBR decisions with our clients

When we decide to proceed with conditions, this means we have questions (or require further information) about particular human rights or environmental aspects of a transaction. The underwriter in charge will then discuss these points directly with the client, explaining the reasons for our concerns. Depending on the particular set-up of such transactions, these discussions may also involve brokers. In 2018, our sustainability experts issued a "proceed with conditions" recommendation in 27 cases, from a total of 247 transactions referred to them for a detailed assessment. For further details of our SBR decisions, see our 2018 Corporate Responsibility Report.

Contributing to general sustainability dialogue

Beyond the discussions we conduct with our clients on individual business transactions, we contribute to the ongoing dialogue on relevant sustainability topics within the re/insurance industry. In 2018, eg, we talked to several clients about best practices for sensitive sectors and discussed the introduction of our thermal coal policy. You can read more about these exchanges in our 2018 Corporate Responsibility Report.

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