Asset Management

Asset Management manages a.s.r.'s investments for Life and Pensions, as well as investments of premiums from other insurance products. All investments are screened for social and environmental factors and governance criteria, in line with the Policy on Responsible Investments.

Countries and companies that do not meet these standards are excluded. a.s.r. makes additional investments in countries and companies that contribute to a more sustainable society, such as organisations focused on the energy transition and mitigating climate risks. Healthcare and education are also important investment themes for a.s.r.

Asset Management does not invest in tobacco or gambling industries. It also excludes companies that generate a significant share of their revenue from nuclear energy, oil shale or coal. Companies must comply with international standards on human rights, labour rights and environmental protection. For government bonds, a.s.r. asset management excludes countries that perform poorly on corruption, democratic freedoms and environmental criteria.

Since 2024, a.s.r. has the option - under strict conditions - to invest in Dutch companies or activities linked to the defence industry.

Asset Management applies criteria relating to gender equality, living wages, freedom of association and the exclusion of child labour. It also engages in constructive dialogue with investee companies to help create long-term value, both financially and socially.

More information:

https://asrassetmanagement.com/

a.s.r. Nederland N.V. has committed to the Science Based Targets initiative ('SBTi'), in line with the SBTi Financial Institutions Near-Term Criteria (version 2.0, May 2024). As part of this commitment, a.s.r. Vermogensbeheer B.V. (AVB), acting as asset manager on behalf of a.s.r. Nederland N.V. and other (a.s.r. entities as) asset owners, has established a Portfolio Coverage ('PC') target, under which a.s.r. Nederland N.V. commits, through AVB’s management activities, that 52% of the market value in its investment portfolio have SBTi-validated targets by 2030 (base year 2023, data 2022: 19%) (the 'Target').

Progress toward the Target will be monitored and publicly disclosed in a.s.r. Nederland N.V.’s annual reports.

Progress is required to follow a linear trajectory from 19% in 2023 to 52% by 2030.The Target has been established using a one-year data lag, based on the investment-portfolio composition as at year-end 2023 and SBTi validation data for 2022. Applying this consistent one-year lag ensures comparability throughout the Target period and mitigates variability caused by delays in the data vendor’s collection process.

The Target is based on the current scope and composition of the investment portfolio as at year-end 2023. Potential future changes due to client onboarding and/or shifts in strategic asset allocation (for instance, towards regions with lower SBTi coverage, such as the United States), as set out in the mandate guidelines and restrictions, do not form part of the current Target.

AVB seeks to advance progress toward the Target through engagement with investee companies, encouraging them to set and validate science-based targets. AVB will focus its efforts on a subset of companies for which committing is feasible and contribute to achieving the Target (measured in market value). Consequently, the efforts undertaken in this context should be understood as relating to a limited part of the total investments. Portfolio divestments or investment restrictions are explicitly not part of this commitment, because such divestments or restrictions would impede fiduciary duties of AVB toward its clients under the mandates granted to AVB.

Achievement the Target is not fully within the control of AVB. For instance, investee companies may withdraw their SBTi targets or fail to obtain SBTi validation. Market, geopolitical or regulatory developments may also impede progress while strategic portfolio composition changes, client inflows, or benchmark realignments could further influence progress towards reaching the Target. To reach the Target, AVB expects that SBTi continues method development and expanding sector guidance and has sufficient validation capacity.

In accordance with its fiduciary duties, AVB will engage with investment companies to advance progress toward meeting the Target, while portfolio divestments or reallocation in order to meet the Target do not form part of its commitment. If it becomes irreconcilable with its fiduciary obligations towards its clients, a.s.r. Netherland may ultimately need to adjust the Target or reconsider its SBTi commitment.

It is assumed that no material changes have occurred since year-end 2023 in a.s.r. Nederland N.V.’s investment universe, structure or operations that would trigger a re-baselining under SBTiFI-R14. Should such changes occur, the Target will be recalculated in accordance with the SBTi Financial Institutions Guidance and Near-Term Criteria (version 2.0, May 2024).

Real Assets has been managing property on behalf of institutional investors for more than 130 years. Through sector-specific funds, it invests in retail properties, residential assets, offices, farmland, science parks and renewable energy. It also provides strategic advice and fiduciary management through separate accounts, including international mandates. Its mission is to create ‘perpetual value’: property that delivers sustainable returns while contributing to broader societal objectives.

Real Assets is committed to reducing negative environmental impacts. Addressing climate change is therefore a key priority. The business has committed to lowering the ecological footprint of its portfolio and improving the sustainability performance of the assets it manages.

Real Assets has developed a biodiversity framework that is integrated into its acquisition and renovation plans, ensuring that biodiversity is consistently taken into account when acquiring or refurbishing property. In addition, two further categories of nature-related measures have been implemented: improving data quality and enhancing biodiversity at building level. The nature strategy for farmland focuses on green leasing practices and landscape features. For wind and solar park projects, a.s.r. real estate’s nature strategy centres on identifying the ecological impact of renewable energy projects and taking appropriate measures in response.

Real Assets aims to reduce the use of new materials and minimise waste by incorporating circular construction principles and related objectives into the design requirements for new buildings and major renovations.

More information:

https://en.asrrealassets.nl/

Mortgages provides and manages mortgages for private customers under labels such as WelThuis and DigiThuis. Its services focus on clear and comprehensible products, careful customer management and tailored support in cases of payment difficulties. Through a dedicated customer team and transparent communication, a.s.r. supports customers in taking on and managing long-term financial commitments. Operational processes are designed to ensure reliability and transparency, with strict control mechanisms and close cooperation with partners such as Stater and Mender.

Sustainability is a core element of the mortgage business’s vision. Mortgages encourages energy-efficient homes by financing CO₂-reducing measures, such as solar panels, through the sustainability mortgage. Customers are actively guided in making more sustainable choices, with the aim of supporting CO₂ reduction and strengthening financial self-reliance.