Annual Report 2021
Sustainable value creation
Sustainable value creation

a.s.r. believes that through its business operations it can contribute to solving societal issues within its sphere of influence, taking sustainable value as the starting point. a.s.r. has to create as much positive impact as possible and wants to reduce its negative impact where possible. As a company, it is important to set an example to show that the society needs to become more sustainable. The purpose of a.s.r. is to help its customers to share risks and accumulate capital for later. In creating sustainable value, it is essential to maintain an ongoing dialogue with stakeholders concerning trends, developments and the strategy and activities of a.s.r. The key stakeholder groups of a.s.r. are customers, employees, investors and society.


Customers expect to obtain good value for the premiums they pay. They need to be confident that their funds are being managed skilfully and in a socially responsible way, and that their rights are respected and protected by a.s.r. Customers must be able to rely on a.s.r. being able to meet its financial liabilities, now and in the future. a.s.r. is committed to a high level of customer service in its product offering in order to sustain successful customer relationships in the future. a.s.r. measures its customer satisfaction through NPS. a.s.r. distributes the majority of its products and services through independent advisors. They have broad knowledge of the insurance market, including products, prices and providers, and an acute sense of the needs of insurance purchasers. Their specific knowledge and experience with local markets and customers is valuable for a.s.r. and its customers. More information can be found in chapter 3.1.


Employees want a professional working environment where they can self-manage and make choices in their work and career and enhance their sustainable employability. They want good terms of employment, work that is enjoyable, a good work-life balance, attention for their health and wellbeing and an appreciation of the contribution they make. a.s.r. encourages and supports employees to professionally develop themselves with the aim of enhancing their opportunities on the internal and external labour market. Employees also want to be recognised for who they are and to feel included and at home. a.s.r. aims for a balanced workforce based on gender, age, religious conviction, physical and mental abilities, background and orientation. At a.s.r., jobs are weighted regardless of gender. Women and men with similar work experience, performance and potential receive equal pay. More information can be found in chapter 3.3.


Investors rely on a.s.r.'s management to devise and successfully execute the best strategy in order to maximise the value of the organisation. a.s.r. does so with a continued focus on value over volume, maintaining a strong cost discipline, only doing mergers and acquisitions (M&A) that fit well into the strategy of a.s.r. and maintaining a strong balance sheet and robust Solvency II ratio with manageable sensitivities and ample financial flexibility. Investors are also increasingly interested in the social relevance of the companies they invest in. It is important for them that a.s.r. represents the interests of all stakeholders in order to create long-term value and return on capital. More information can be found in chapter 3.2 and 3.5.


Beyond the aforementioned stakeholders, a.s.r. has a range of other stakeholders to take into account when doing business, including civil society organisations, government, tax authorities and regulators, trade unions, media, suppliers, academics, peers and business partners. Depending on the topic and type of relationship involved, expectations and interests may vary from responsible investments, complying with regulations, and supporting people with financial self-reliance and inclusiveness to constructive cooperation with business partners in different contexts. Overall, these diverse stakeholders expect a.s.r. to create sustainable and responsible societal value. More information can be found in chapter 3.4 and 3.6.