AA Life follows the Allianz group process when appointing its asset managers (such as PIMCO) in relation to the asset management of its statutory fund assets. AA Life provides the manager with a global restricted list of entities and areas for which the manager is instructed not to contract with, in line with labour standards and environmental, social, ethical and governance (ESG) considerations.
However, labour standards and ESG considerations are not considered in respect of the selected market-linked investment indexes supporting AA Life’s retirement income products, as they are not ESG investment indexes.
AA Life is committed to supporting the Allianz group approach to ESG issues. Allianz SE is a signatory of the United Nations backed Principles for Responsible Investment ('Principles') and is committed to promoting the Principles within the Allianz group and amongst industry peers. All investment related integration activities regarding ESG by Allianz group entities, including AA Life, aim to be in-line with the Principles. Allianz group's ESG approach, including criteria relevant to ESG matters and considerations, and the extent to which these are taken into account in the selection, retention or realisation of investments may be found on the Allianz group website here.