SASB: reference table

Transparent information & fair advice for customers

Accounting metric

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

Swiss Re disclosure

Not disclosed. This metric is not considered relevant for a reinsurer (as primarily B2B business).

Accounting metric

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

Swiss Re disclosure

Not disclosed. This metric is not considered relevant for a reinsurer (as primarily B2B business).

Accounting metric

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

Swiss Re disclosure

Not disclosed.

Accounting metric

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

Swiss Re disclosure

Not disclosed. This metric is not considered relevant for a reinsurer (as primarily 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

Swiss Re considers ESG aspects for close to 100% of its Strategic Asset Allocation. See SR: Responsible investing: Responsible Investing strategy and FR: Financial statements: Note 7 Investments for more information. Swiss Re had a total of USD 111.3 billion of assets under management as of 31 December 2023.

Accounting metric

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

Swiss Re disclosure

Disclosed, see SR: Responsible investing: Responsible Investing strategy, as well as SR: Climate-related financial disclosures: Climate risk management.

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

For examples of Swiss Re products related to energy efficiency and low-carbon technology, see SR: Sustainability in underwriting: Managing sustainability opportunities in underwriting and SR: Climate-related financial disclosures: Climate strategy.

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, Swiss Re incentivises sustainable behaviour with key stakeholders in various ways: in its core re/insurance business through products and services with clients, and as an asset owner with the companies it invests in. As part of the Group Sustainability Strategy, Swiss Re has the ambition to provide risk transfer solutions and investments to advance the net-zero transition across different sectors; to narrow the natural catastrophe protection gap by offering respective re/insurance products and services, including advancing climate adaptation; and to foster financial inclusion with a focus on household financial protection and healthcare protection.

For examples, see SR: Sustainability in underwriting: Managing sustainability opportunities in underwriting and SR: Climate-related financial disclosures: Climate strategy.

Risk management is an integral part of Swiss Re’s business model. As a company committed to sustainability, instruments have been developed to identify, assess and address environmental, social and governance factors in its underwriting and investments, including through the company’s ESG Risk Framework.

See SR: Business conduct & overarching policies: The ESG Risk Framework and SR: Climate-related financial disclosures: Climate risk management.

Swiss Re shares knowledge and engages in dialogue with stakeholders. For details, see SR: Sustainability in underwriting: Managing sustainability risks in underwriting and Client engagement, as well as SR: Responsible investing: Responsible Investing strategy and SR: Sustainable operations: Engaging with stakeholders.

Swiss Re developed and implemented an Engagement Framework with investees. For more insights into how Swiss Re promotes responsible investing with key stakeholders, see SR: Climate-related financial disclosures: Climate metrics and targets.

Environmental risk exposure

Accounting metric

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

Swiss Re disclosure

Swiss Re uses annual expected losses (AEL) from weather-related perils to identify material portfolios that are potentially exposed to changes in the frequency and severity of extreme weather events due to climate change.

See SR: Climate-related financial disclosures: Climate metrics and targets. For assessing the risk of individual rare natural catastrophes, Swiss Re uses value-at-risk (VaR) or tail VaR. For example, the 99.5% VaR measures the loss likely to be exceeded in only one year out of two hundred, see FR: Risk and capital management: Risk assessment, where the results of insurance risk stress tests are provided for the 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 its Climate-related financial disclosures 2023, Swiss Re discloses gross AEL from modelled natural catastrophes by type of event and geographic segment. Actual net losses for natural catastrophes overall are disclosed on a global and Business Unit basis.

More details can be found in SR: Appendix: Sustainability data and in FR: Financial year: Group results.

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

When underwriting transactions, Swiss Re has a specific process in place to assess potential ESG risk exposures, where information granularity is available and allows for a meaningful ESG risk assessment. This level of granularity is most often found in the areas of direct insurance and facultative reinsurance business. For details, see SR: Sustainability in underwriting: Managing sustainability risks in underwriting, SR: Business conduct & overarching policies: The ESG Risk Framework as well as SR: Sustainability governance and FR: Risk and capital management: Financial strength and capital management.

For more information on Swiss Re’s climate risks, please see SR: Climate-related financial disclosures.

Systemic Risk Management

Accounting metric

Exposure to derivative instruments by category: (1) total potential exposure to non-centrally 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

See FR: Financial statements: Note 9 Derivative financial instruments.

Accounting metric

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

Swiss Re disclosure

See FR: Financial statements: Note 7 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

See FR: Risk and capital management and FR: Financial statements: Note 7 Investments.