ESG at PartnerRe

Our ESG mission and initiatives focus on improving society and helping to manage climate risks in a continually evolving landscape.

PartnerRe is committed to fulfilling our ambition of being a responsible corporate citizen while balancing profitability with effective risk management and a prudent investment policy, which ultimately benefits all of our stakeholders, including our shareholders, clients, capital providers, employees and our local communities.

PartnerRe 2022 Environmental, Social, Governance Report

ESG is a journey, and PartnerRe is committed to continuous improvement and revisiting our policy and reporting annually to ensure we are well positioned to measure, monitor, manage and report on ESG considerations embedded in our business. We are proud to share the progress that we have made as a company through our actions relative to our ESG goals in our 2022 ESG Report.

Click here to see the 2021 ESG Report and Appendix.

PartnerRe Task Force on Climate-related Financial Disclosures (TCFD) and Sustainability Accounting Standards Board (SASB) Index

PartnerRe provides this index to direct readers to the most relevant information relative to recommended TCFD/SASB disclosure that is currently publicly available.

Click here to access all indexes.

Our Environmental, Social, Governance Policy

PartnerRe Ltd. and its subsidiaries is committed to fulfilling our ambition of being a responsible corporate citizen while balancing profitability with effective risk management and a prudent investment policy, which ultimately benefits all of our stakeholders, including our shareholder, clients, capital providers, employees and our local communities. Our ESG mission and initiatives focus on improving society and helping to manage climate risks in a continually evolving landscape. This mission embraces our Company values of Integrity, Performance, Collaboration, Straightforward Communication, Respect and Care.

To put PartnerRe’s ESG mission into effect, we have adopted the following ESG goals: (1) good business conduct, ethics and governance, (2) managing the impacts of climate change across liabilities, assets and our corporate operations to build global resilience, (3) community support and wellness and (4) diversity and inclusion.

Principles for Responsible Investment

PartnerRe, through our parent company, Covéa Coopérations S.A.’s signatory status, is a signatory of the UN Principles for Responsible Investment (PRI) in partnership with the UNEP Finance Initiative and the UN Global Compact. Signatory category: Asset Owner

ESG in our Investment Strategy

PartnerRe is a long-term investor and believes the stewardship of our capital requires the consideration of ESG factors along with other risk and return analyses. Such scrutiny fosters stability for our balance sheet, benefiting all our stakeholders, and supports our goal of managing the impacts of climate change across our assets to build global resilience.

Partnerships and Initiatives

PartnerRe has donated $30,000 to Médecins Sans Frontières (MSF) to provide social and disaster relief following the powerful earthquakes in South Turkey and northwest Syria. We take our responsibility to give back to our local communities seriously and align our corporate giving with employee participation, as well as providing dollar matching for employees’ own charitable giving.

PartnerRe’s ESG partners help us in our efforts to reduce our carbon footprint. Native Energy to offset carbon emissions related to our business operations, while the Swiss Climate Foundation helps us to support small and medium enterprises on the forefront of energy efficiency and climate protection. We have also partnered with the Climate Neutral Group to offset business travel.

Statement on Diversity & Inclusion

We know that companies with an inclusive culture and a higher degree of diversity across all levels are better at making business decisions. They are also better for employees because they create the right environment for everyone to succeed, learn and grow.

For a company like ours, that means consciously hiring and advancing people from underrepresented groups to ensure that we have all kinds of backgrounds and identities at every level of the organization. To succeed, we need to have a culture of inclusion where every employee feels welcomed and respected to perform at their best.

We know that our success depends on this, and we are making good progress on our journey, but we also know we need continued focus and investment on this important initiative and there is more to be done.

Our Executive Leadership is determined to build on our growing momentum in increasing diversity and inclusion at PartnerRe through the following:

1.

We will work towards increased representation of all employee groups in Executive and senior management roles and people management roles whilst preserving our principles of meritocracy.

How?

Increase the proportion of under-represented groups in the succession pipeline for key positions (whilst complying with data privacy regulations).

2.

We will make sure all employees regardless of ethnicity, background, religion, sexual orientation, age, nationality and gender have an equal opportunity to grow and progress at PartnerRe.

How?

PartnerRe’s recruitment process has been designed to support diversity and inclusion and the process should be followed for all hires. One or more of the following criteria must be followed:

  • Develop a diverse candidate shortlist where possible and practical and share this mandate with agencies.
  • Source talent through diverse channels by using specialist job boards and targeted schools.
  • PartnerRe provides a diverse interview panel for all candidate interviews including for technical interviews.
  • The hired candidate completes a cultural interview which includes a discussion on their experiences and perspectives on diversity and inclusion.
3.

We will promote a culture of inclusivity where employees can share their thoughts openly and have the conversations that are needed to make PartnerRe a place where employees can be themselves and where all ideas and experiences are encouraged and welcomed.
Employees will be expected to invest time in acquiring and developing knowledge either through corporate-led initiatives or self-paced training every year.

How?

  • Raising awareness and education – all employees will complete Diversity and Inclusion-related self-paced learning via our virtual learning & development portal by the end of 2024 to ensure alignment between employees’ actual and expected behaviors.
  • By endorsing Employee Resource Groups (ERGs), which are initiatives initiated by employees themselves, we actively encourage diversity by bringing it into direct contact with the teams.
  • By running regular D&I pulse surveys to assess and address employee opinion on D&I topics and management teams’ behaviors.
4.

We will hold ourselves accountable by developing clear objectives and measuring our progress.

How?

  • D&I is part of the group objectives of each ELT member.
  • Our D&I scorecard will help the company to measure the progress made by Business and Support Units across the organization.

Modern Slavery Act Transparency Statement

The Statement documents PartnerRe’s commitment to the highest level of ethical conduct in all its business activities and confirms that the Board and Management of PRESE and PRIIdac do not knowingly support or do business with any suppliers who are involved in Modern Slavery or Human Trafficking.

View the full statement.

French Gender Equality Index

In France, PartnerRe annually calculates its score on the Gender Equality Index which has been implemented by the French government to reduce the pay gap between men and women. This index score is based on the following indicators:

  • Gap in pay between women and men
  • Gap in distribution of pay raises between women and men
  • Percentage of women given pay raises upon their return from maternity leave
  • Number of women and men among the 10 highest paid employees

For 2022, the score of PartnerRe’s French branch is 84/100.

Jaime Masters
Jaime Masters
ESG Contact
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