Legal

Statement on Engagement and Shareholder participation as at 1st July 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.

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.

Information pursuant to Art. 367i PGR Investment strategy and agreements with asset managers
Elips Life relies on Swiss Life Asset Managers France which is a portfolio management company under the supervision of the French financial market supervisory authority (Autorité des Marchés Financiers) inter alia authorised to manage assets on behalf of third parties. As part of its main responsibilities, Swiss Life Asset Managers establishes the Swiss Life 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, Business Divisions and legal entities, as well as support and advise on strategic projects, transactions and portfolio management.  The strategic mandate given to Swiss Life Asset Managers is comprised of the management of the investment assets generated through the activities of Elips Life and advising Elips Life where appropriate.

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

There is no incentivisation of the asset manager. Swiss Life Asset Managers provides support and advice regarding changes to the entity Strategic Asset Allocation (“SAA”). The guidance is given according to the characteristics of the entity’s underlying re/insurance liabilities to achieve defined financial and risk objectives which are based predominantly on a long-term market outlook.

The Swiss Life Asset Managers governance framework governs the investment decision process.

The arrangement with the Swiss Life Asset Managers is ongoing.

Cookie Policy

About this Cookie Policy
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