SASB: reference table

The reference table below lists where our reports
address disclosures from the Insurance Industry
Sustainability Accounting Standard (SASB)

Topic

Accounting metric

Swiss Re Disclosure

Transparent Information & Fair Advice for Customers

Accounting metric:

Total amount of monetary losses because of legal proceedings associated with marketing and communication of insurance product related information to new and returning customers (FN-IN-270a.1.)

Swiss Re Disclosure:

Not disclosed as metric not considered relevant for a reinsurer (as purely B2B business).

Accounting metric:

Complaints-to-claims ratio (FN-IN-270a.2.)

Swiss Re Disclosure:

Not disclosed as metric not considered relevant for a reinsurer (as purely B2B business).

Accounting metric:

Customer retention rate (FN-IN-270a.3.)

Swiss Re Disclosure:

Currently not disclosed.

Accounting metric:

Description of approach to informing customers about products (FN-IN-270a.4.)

Swiss Re Disclosure:

Not disclosed as metric not considered relevant for a reinsurer (as purely B2B business).

Incorporation of Environmental, Social, and Governance Factors in Investment Management

Accounting metric:

Total invested assets, by industry and asset class (FN-IN-410a.1.)

Swiss Re Disclosure:

We apply ESG aspects to close to 100% of our SAA. Please see our Sustainability Report 2021 on page 41, as well as the Financial Report 2021 on page 30 and the Note 7 Investments (page 250-254) for more information. We have a total of USD 121.2 billion of assets under management as of 31 December 2021.

Accounting metric:

Description of approach to incorporation of environmental, social, and governance (ESG) factors in investment management processesand strategies(FN-IN-410a.2.)

Swiss Re Disclosure:

Disclosed, please see the Responsible Investing chapter in the Sustainability Report 2021, as well as the TCFD chapter in the Financial Report 2021, in particular on page 169.

Policies Designed to Incentivize Responsible Behaviour

Accounting metric:

Net premiums written related to energy efficiency and low carbon technology (FN-IN-410b.1.)

Swiss Re Disclosure:

We disclose our ESG-related products, of which energy efficiency and low carbon technology is a part, please see our track record on our Creating solutions for sustainability webpage.

For further information on our products, please see our Solutions for sustainability chapter in our Sustainability Report 2021 from page18 onwards.

Accounting metric:

Discussion of products and/or product features that incentivize health, safety, and/or environmentally responsible actions and/or behaviours (FN-IN-410b.2.)

Swiss Re Disclosure:

As a re/insurer, we incentivise sustainable behaviour with key stakeholders in various ways: in our core re/insurance business through our products and services with clients and as an asset owner with the companies we invest in. As part of our Group Sustainability Strategy, we aim to embed sustainability in all our activities and lead sustainability linked solutions and embrace opportunities, as shown on page 10 of our Sustainability Report 2021. Please also see the Solutions for sustainability chapter of our Sustainability Report 2021 on pages 18–31 as well as pages 163–164 in the TCFD chapter of our Financial Report 2021 for more information on concrete examples.

We have an extensive sustainability risk management process in place, for both individual transaction due diligence as well as group-wide sustainability risk policies. Please see our Sustainability Report 2021 on pages 33–37 for details. As part of this process, we share our knowledge and engage in dialogue with stakeholders.

In 2020, Asset Management developed and implemented an Engagement Framework, please see our Sustainability Report 2021, page 46, for further information.

Our stakeholder dialogue chapter in the Sustainability Report 2021 gives insights into how we promote responsible investing with key stakeholders on, pages 49–57.

Environmental Risk Exposure

Accounting metric:

Probable Maximum Loss (PML) of insured products from weather-related natural catastrophes (FN-IN-450a.1.)

Swiss Re Disclosure:

We report our weather related annual expected losses (AEL) by perils and reqions as well as for peak exposures. please see Investing chapter in the TCFD chapter of our Financial Report 2021. Furthermore, for peak exposures 99.5% value at Risk (VaR) are reported. This measures the loss likely to be exceeded in only one year out of two hundred, see the Financial Report 2021 page 71 where the results of insurance risk stress tests are provided for peak insurance risks.

Accounting metric:

Total amount of monetary losses attributable to insurance pay-outs from (1) modelled natural catastrophes and (2) non-modelled natural catastrophes, by type of event and geographic segment (net and gross of reinsurance) (FN-IN-450a.2.)

Swiss Re Disclosure:

In the 2021 TCFD chapter , we disclose gross modelled natural catastrophes AELs by type of event and geographic segment. Actual net losses for natural catastrophes overall are only disclosed on a global and Business Unit basis. More detail can be found in the TCFD chapter of our Financial Report 2021 on page 180 and in the Group result chapter pages 16-18.

Accounting metric:

Description of approach to incorporation of environmental risks into (1) the underwriting process for individual contracts and (2) the management of firm-level risks and capital adequacy (FN-IN-450a.3.)

Swiss Re Disclosure:

We have an extensive sustainability risk management process in place (for both individual transaction due diligence as well as group-wide sustainability risk policies), please see our Sustainability Report 2021 on pages 33–37. For more information on our climate risks, please see our TCFD chapter in the Financial Report 2021.

As of 2020, we have incorporated our Biodiversity and Ecosystems Index into our CatNet® Tool. Please find more information in our Sustainability Report 2021 on pages 14 and 36.

Systemic Risk Management

Accounting metric:

Exposure to derivative instruments by category: (1) total potential exposure to noncentrally cleared derivatives, (2) total fair value of acceptable collateral posted with the Central Clearinghouse, and (3) total potential exposure to centrally cleared derivatives (FN-IN-550a.1.)

Swiss Re Disclosure:

Please see Note 9 Derivative Financial Instruments on page 266 of the Financial Report 2021 for information on derivative financial instruments.

Accounting metric:

Total fair value of securities lending collateral Assets (FN-IN-550a.2.)

Swiss Re Disclosure:

Please see Note 7 Investments on page 248 of the Financial Report 2021 for more information on our investments.

Accounting metric:

Description of approach to managing capital and liquidity-related risks associated with systemic non-insurance activities (FN-IN-550a.3.)

Swiss Re Disclosure:

Please see Note 7 Investments on page 248 of the Annual Report 2021 for information on our investments.