Sustainability Accounting Standards Board (SASB): reference table

Topic

Accounting Metric

Swiss Re Disclosure

Transparent Information & Fair Advice for Customers

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

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

 

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

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

 

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

Currently not disclosed.

 

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

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

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

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

We apply our advanced ESG approach to all our investments. Please see our Sustainability Report 2020 on page 45, as well as the Financial Report 2020 on pages 163–165 and the Note 7 Investments on page 236 for more information. We have a total of USD 125.7 billion in assets under our management as of 31 December 2020.

 

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

Disclosed, please see the Responsible Investing chapter in the Sustainability Report 2020, as well as the TCFD chapter in the Financial Report 2020.

Policies Designed to Incentivize Responsible Behaviour

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

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 2020 from page 26 onwards, as well as on page 34.

 

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

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 2020. Please also see the Solutions for sustainability chapter of our Sustainability Report 2020 on pages 24–35 as well as pages 161–162 in the TCFD chapter of our Financial Report 2020 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 2020 on pages 36–43 for details. As part of this process, we share our knowledge and engage in dialogue with stakeholders. Read about our client engagements on thermal coal and oil and gas on page 41 of the Sustainability Report 2020.

In addition, Asset Management recently developed an Engagement Framework; please see our Sustainability Report 2020, page 50, for further information.
Our stakeholder dialogue chapter in the Sustainability Report 2020 gives insights into further engagement activities (pages 53–59).

Environmental Risk Exposure

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

We report our Annual Expected Loss (AEL), please see page 172 in the TCFD chapter of our Financial Report 2020.

 

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.)

In the 2020 TCFD chapter, we disclose modelled natural catastrophes AELs by type of event and geographic segment. Actual losses for natural catastrophes overall are only disclosed on a global and industry basis.
More detail can be found in the TCFD chapter of our Financial Report 2020 on page 153.

 

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.)

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 2020 on pages 36–43 . For more information on our climate risks, please see our TCFD chapter in the Financial Report 2020 on pages 168–171.

As of 2020, we have incorporated our Biodiversity and Ecosystems Index into our CatNet® Tool. Please find more information in our Sustainability Report 2020 on pages 14 and 26.

Systemic Risk Management

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.)

Please see Note 9 Derivative Financial Instruments on page 254 of the Financial Report 2020 for information on derivative financial instruments.

 

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

Please see Note 7 Investments on page 236 of the Financial Report 2020 for more information on our investments.

 

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

Please see Note 7 Investments on page 236 of the 2020 Annual Report for information on our investments.