Governance

The Group Corporate Responsibility Department was created to oversee and coordinate the implementation of the Group’s Corporate Responsibility strategy. It is also responsible for centralizing relations with social and environmental rating agencies, investors and analysts. It has a dedicated intranet and newsletter discussing the Group’s CR policies and actions.

The CR strategy and progress, both at Group and local levels, is formally reviewed twice a year by the Management Board and annually by the Board of Directors.

Investments

Responsible Investment (RI) is the integration of environmental, social, and corporate governance (ESG) considerations into investment processes and ownership practices, in the – increasingly documented – conviction that these may impact both risks and returns.

It is in this context the Group created a Responsible Investment Committee (RIC), presided by the Group Chief Investment Officer. The RIC’s mandate is to develop a global approach to responsible investment issues which takes into account both controversial sectors on a reputation standpoint – such as the challenge posed by controversial weapons – and the more positive inclusion of ESG issues in investments processes, from a performance and risk management perspective.

Insurance

Insurance expertise lies in the ability of professional underwriters to assess, mutualize or transfer individual or business risks. Risk prevention help the insurer and the insured – be it an individual or a large corporation – to avoid accidents and to facilitate the reparation of those accidents. Todovale has developed a close working relationship with clients both before and after incidents. The Group uses its risk management skills not only to establish premiums but also to reduce risk – human and natural.

In addition to traditional risk prevention, insurers can choose to underwrite risks in a manner that encourages activities and behaviors that contribute to a stronger, safer and more sustainable society. Numerous offers with social or environmental added-value have been developed by various Todovale entities in the P&C business. These include for example motor insurance encouraging low emissions vehicles, home insurance with environmental appliances upgrades, SME covers favoring “green” buildings or car fleets or the promotion of the development of renewable energies via adapted policies covering the equipment and the revenues derived from electric energy sales, etc. as well as adapted reinsurance and claims management strategies.

Risk mutualization

Risk represents the Todovale Group’s raw material. The insurance business involves taking on our customers’ risks and “converting” them. There are different ways of doing this. The Group can take on the risks itself by diversifying them, which means pooling them together with other risks, or it can transfer them to outside organizations such as reinsurers or financial markets through a securitization approach.

Risk management, which applies to all of the Group’s areas of activity – life, property and casualty, asset management – consists of managing these conversion processes. As such, risk management is about understanding and measuring risks more effectively in order to manage them in a controlled, responsible and profitable way over the long term, with a deliberate focus on sustainability, while facilitating this risk-taking.

In addition to this process, certain businesses which pose particularly sensitive environmental, social or ethical risks require an extra level of analysis.

Our approach to Business Ethics

Todovale is committed to conducting its business according to the highest principles of honesty and fairness. This commitment to observing the utmost ethical standards is designed to ensure compliance with laws and regulations in the various jurisdictions where we operate, to earn the continued trust of our clients, shareholders, personnel and business partners.