(3BL Media) Zurich – July 9, 2012 – Zurich Insurance Group (Zurich) today became a signatory of the United Nations-backed Principles for Responsible Investment (PRI). The PRI Initiative, a non-profit organization created in conjunction with the United Nations Environment Programme Finance Initiative and the UN Global Compact, is a network of institutional investors as well as asset managers and service providers working together to put the Principles for Responsible Investment (http://www.unpri.org/principles/) into practice and to share and promote best practice in Responsible Investment.
Cecilia Reyes, Group Chief Investment Officer and responsible for managing Zurich’s USD 206 billion* portfolio of Group investments, commented: “Zurich is committed to managing its assets as a responsible investor. Being a signatory of the PRI will support us in achieving this goal. Working together with the investment community, we believe that a positive long term impact on society and the environment can be achieved.”
Zurich has developed a strategy for Responsible Investment and appointed Manuel Lewin (30, Swiss Citizen) as the Head of Responsible Investment to oversee a focused implementation. Mr. Lewin is based in Zurich and reports directly to Cecilia Reyes. Details about Zurich’s Responsible Investment strategy can be found in the Responsible Investment Position Statement available on our website ). * as of March 31, 2012
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[medium_ad_left]Zurich Insurance Group (Zurich) is a leading multi-line insurance provider with a global network of subsidiaries and offices in Europe, North America, Latin America, Asia-Pacific and the Middle East as well as other markets. It offers a wide range of general insurance and life insurance products and services for individuals, small businesses, mid-sized and large companies as well as multinational corporations. Zurich employs about 60,000 people serving customers in more than 170 countries. The Group, formerly known as Zurich Financial Services Group, is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt program which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.
Principles for Responsible Investment
The United Nations-backed Principles for Responsible Investment Initiative (PRI) is a network of international investors working together to put the six Principles for Responsible Investment into practice. The Principles were devised by the investment community. They reflect the view that environmental, social and corporate governance (ESG) issues can affect the performance of investment portfolios and therefore must be given appropriate consideration by investors if they are to fulfil their fiduciary (or equivalent) duty. The Principles provide a voluntary framework by which all investors can incorporate ESG issues into their decision-making and ownership practices and so better align their objectives with those of society at large.
About the Principles for Responsible Investment (PRI)
The Principles for Responsible Investment, convened by UNEP FI and the UN Global Compact, was established as a framework to help investors achieve better long-term investment returns and sustainable markets through better analysis of environmental, social and governance issues in the investment process and the exercising of responsible ownership practices. The Principles themselves, a full list of signatories and more information can be found at www.unpri.org
The Principles for Responsible Investment
1 We will incorporate ESG issues into investment analysis and decision-making processes.
2 We will be active owners and incorporate ESG issues into our ownership policies and practices.
3 We will seek appropriate disclosure on ESG issues by the entities in which we invest.
4 We will promote acceptance and implementation of the Principles within the investment industry.
5 We will work together to enhance our effectiveness in implementing the Principles.
6 We will each report on our activities and progress towards implementing the Principles.
For further information:
Zurich Insurance Group Ltd
Mythenquai 2, 8022 Zurich, Switzerland
SIX Swiss Exchange/SMI: ZURN, Valor: 001107539
phone +41 (0)44 625 21 00
fax +41 (0)44 625 26 41
KEYWORDS: People, Social Action & Community Engagement, Zurich Insurance, united nations, Principles for Responsible Investment, UN