Legal

Legal

The website www.elipsLife.com is the internet site of Elips Life Ltd (hereinafter referred to as elipsLife). By accessing the website, you acknowledge and accept the following conditions:

Regional restrictions

Unless explicitly stated otherwise, the information and products described here address corporate customers domiciled in Switzerland and Liechtenstein. Products are only sold through specialised insurance brokers.

Exclusion of warranty and liability

Although the information published on this website is reviewed and updated regularly, elipsLife cannot offer any assurances or guarantees concerning the completeness, accuracy and relevance of the information. For binding information, please refer to our General Insurance Provisions.

This website is used at the user's own risk. To the extent possible under the law, elipsLife excludes any liability for loss or damage arising from or related to accessing or using this website (or the inability to access or use this website).

Linked websites

elipsLife's website may contain links to other websites. As elipsLife cannot check or determine their contents, it does not accept any liability for their contents, product and service offers or other offers or for their compliance with the provisions of data protection legislation.

Right to make changes

elipsLife reserves the right to change this website at any time without prior notice.

Your satisfaction with our services is important for us!

We therefore take your suggestions, comments and complaints very seriously. The quickest way to address any concerns is to contact your relationship manager or usual contact person. You can also write us at:

Elips Life Ltd
Legal & Compliance
Gewerbeweg 15
9490 Vaduz, Liechtenstein

We always want to resolve any concern you raise with us. However, if you are not satisfied with our final response or our services, you can also refer your case to the Financial Market Authority Liechtenstein.

Finanzmarktaufsicht Liechtenstein
Landstrasse 109
Postfach 279
9490 Vaduz, Liechtenstein

Statement on Engagement

Statement on Engagement and Shareholder participation as at 31st May 2022

Scope
With its headquarter in Vaduz, Elips Life Ltd. is authorised in Liechtenstein and adheres to the Persons and Companies Act (hereinafter: "PGR") of Liechtenstein.

Applicable Law
In Liechtenstein, the second Shareholder Rights Directive of the European Union (ARUG II, Directive (EU) 2017/828) has been transposed into domestic law via the PGR. Elips Life Ltd. (hereinafter: "Elips Life") is a company which conducts life insurance business in Liechtenstein and thus qualifies as an institutional investor pursuant to Art. 367a PGR. Pursuant to Art. 367h PGR, Elips Life is obliged to either publish its participation policy regarding participations in listed companies on its website or to publicly explain why it has decided not to do so (comply or explain). In the case of participation in listed companies, a distinction must be made between a) the management of shares in the company's own portfolio and b) those shares which Elips Life holds for the account and risk of the policyholder(s) within the scope of unit-linked and unit-linked life insurance or pension insurance solutions.

  1. Information according to art. 367h PGR – participation policy

    Elips Life does not directly invest in securities and does not provide or engage in regulated investment activities. Elips Life also did not hold any equity investments as at 31 December 2021.

    Elips Life does not hold any shares in its own portfolio, either directly or indirectly, and does not plan to invest in this asset class in the near future.

    For the aforementioned reasons, a participation policy within the meaning of Art. 367h para 1 PGR is not adopted and not exercised by Elips Life. Information in this regard in the sense of Art. 367h para 2 PGR is therefore omitted.

     

  2. Information pursuant to Art. 367i PGR Investment strategy and agreements with asset managers

Elips Life relies on Group Asset Management (“Group AM”) which is a Group Function of the Swiss Re Group (the "Group”) who supports the Business Units (“BUs”) Reinsurance, Corporate Solutions and iptiQ (together "Swiss Re"). As part of its main responsibilities, Group AM establishes the Group's investment strategy and long-term investment views;  manages and oversees the investment assets and related processes; provides investment and operational services to the Group, BUs and legal entities, as well as support and advise on strategic projects, transactions and portfolio management.  The strategic mandate given to Group AM is comprised of the management of the investment assets generated through the activities of the BUs and advising the BUs' business where appropriate.

On an annual basis, Group AM assesses Elips Life's Strategic Asset Allocations (“SAA”) and proposes updates to the SAA which is thereafter approved by the Elips Life’s Board of Directors (“BoD”). The implementation of the SAA is closely coordinated with Elips Life Ltd. Performance evaluation and progress on the SAA implementation is presented quarterly to the BoD and discussed twice a year with the Elips Life Executive Team.

Group AM’s objective is to maximise risk-adjusted performance in line with targets set at Group and BU levels. Group AM also considers other objectives and constraints specific to each BU with respect to investments to define the optimal asset allocation under the defined Group investment strategy.

As such, there is no incentivisation of the asset manager. Group AM provides support and advice regarding changes to the BU SAA. The guidance is given according to the characteristics of the BUs underlying re/insurance liabilities to achieve defined financial and risk objectives which are based predominantly on a long-term market outlook.

Group AM is mandated by the Group Executive Committee as outlined in the Group Corporate Bylaws and individually by the local legal entities based on Investment Management Agreements (“IMA”) and respective approved SAAs where applicable. The operative targets are defined in the Group and BU Investment Plans, which are part of the Group Plan and BU  Plans, respectively.

The Group AM governance framework governs the investment decision process. The Group AM investment processes are governed and steered by four core Group AM committees. Two additional Group AM governing bodies are in place and complement the governance framework to steer operational activities.

The arrangement with the Group AM Function is ongoing for all Group BUs and legal entities.

Privacy Policy

This privacy policy explains how elipsLife collects, processes and shares your personal information. It also explains your data protection rights.

Updates to this policy will be published on our website or are available on request.

Unless stated otherwise, in this policy “elipsLife”, “we” and “us” means the company registered in Liechtenstein.

  • Elips Life Ltd

For the purposes of data protection legislation, each company above is a data controller of your personal information and is in the Swiss Re Group (Swiss Re Ltd, headquartered in Switzerland and its subsidiaries)

This policy does not cover how organisations other than elipsLife such as your intermediary use your personal information. We recommend reading the privacy policy on their website or asking them how they use your information. We do not accept responsibility for the ways in which such organisations outside of the Swiss Re Group use your personal information.

This website is to provide information and support to our Distribution Partners and commercial partners.

What information we collect when you use our website?

We may collect:

  • Your contact details like name, address, telephone number, e-mail address
  • Information you may give us when contacting us
  • If you accept cookies – please see Cookie Policy

Cookies, web tracking and similar technologies

  • When you use our website we automatically collect information such as your IP address (the unique address identifying your device from all the others on the internet), what type of device you are using (e.g. a tablet, phone or PC) and cookies from your device.
  • Our website contains web technologies that collect information from your movements around our website and the data you enter. We use this information to improve the design of our website and the service we offer to you by improving customer journey.
  • Cookies are used to compile anonymous website usage statistics, for fraud prevention and to measure the effectiveness of our services.
  • For more information about cookies and web tracking please check our Cookie Policy

For what purpose we use your information?

We and our selected third parties collect and use your information to meet our legal obligations, and for the following legitimate business purposes:

  • communicate with you about products you own or services you use
  • detect or prevent fraud and other crimes
  • verify your identity when you contact us or use our services
  • ask for your views on our services
  • carry out statistical analysis, develop and improve products and services we offer
  • operate, test and secure our IT systems, offices and facilities
  • maintain our accounts and records
  • investigate and resolve complaints and respond to enquiries

We keep the amount of information collected and the extent of any processing to the minimum to meet these legitimate business purposes.

Who do we share your information with?

We will only share your personal information when necessary with:

  • other companies in the Swiss Re Group, or companies affiliated to us
  • associated companies including Reinsurance companies, and our other suppliers and service providers (for the service they provide to us)

Your Data Protection Rights

Under data protection legislation you have the right to:

  • ask us for a copy of your information via a Subject Access Request
  • have inaccurate or incomplete personal data we hold about you rectified and for access to it to be restricted until we do – this prevents it from being changed or further processed
  • have personal data about you erased when we no longer need it for the purposes for which it is held, or when we are required to do so by law
  • ask us to restrict the use of your data, if you require it for the establishment, exercise or defence of legal claims
  • withdraw your consent to the use of your personal data for marketing purposes
  • to object at any time to the processing of your data, even if such processing is necessary for the performance of a public interest or a legitimate interest of ours
  • obtain and reuse your personal data for your own purposes across different providers
  • withdraw your consent, at any time, for any reason, to processing you have previously consented to, unless laws or regulations permit us to continue such processing

If you have any concerns regarding our processing of your personal information or your data protection rights, please contact us. If you have raised a concern with us and it has not been resolved to your satisfaction, you have the right to report your concern to your local Data Protection Authority (DPA), a list of DPAs in Europe can be found on the website of the European Data Protection Board (EDPB)

Data Transfer

We may transfer your data outside of the EU. Where data is transferred out side of EU we have technical and organisational safeguards in place. These safeguards include, information security measures, standard contractual clauses which have been adopted or approved by the EU or other solutions that meet the requirements of European data protection laws to ensure that your personal data is protected appropriately.

How long your information is kept?

We keep your information only for as long as is necessary to meet the purposes for which it was collected and to comply with our legal and regulatory obligations as set out by various regulators..

Automated decision making and Profiling

We do not profile and make any automated decision for the users of our website.

Further Information

To exercise your data protection rights or to find out more about how we use your information please contact us:

Contacts

Elips Life Ltd

Email: pbzcyvnapr@ryvcfyvsr.pbz

 

Cookie Policy

Imprint

Imprint

Elips Life Ltd
Gewerbeweg 15
9490 Vaduz

T: +423 239 95 55
pbagnpg@ryvcfyvsr.pbz


Statutory office of the companies:

Elips Life Ltd, Vaduz: Commercial Register: FL-0002.304.360-5
Elips Life Ltd, Vaduz, Swiss Branch in Zurich: Commercial Register: CHE-341.472.987