General basis for preparation of the Sustainability statements

As per 2024, the CSRD came into effect. Based on the CSRD, a.s.r. as a listed public-interest entity is required to report on the impact of the activities of a.s.r. on the environment and society and the risks and opportunities that arise from sustainability-related developments and events. The reporting requirements under the CSRD are also applicable to the subsidiaries of a.s.r. listed below. These entities are exempted from individual or consolidated sustainability reporting by a.s.r. and their material sustainability matters are included in the group Sustainability statements, including the mandatory elements of the sustainability matters which are deemed material for these entities but not deemed to be material at the a.s.r. group level. See section 6.1.4.5 for more information.

• ASR Levensverzekering N.V.

• ASR Schadeverzekering N.V.

• ASR Basis Ziektekostenverzekeringen N.V.

• ASR Aanvullende Ziektekostenverzekeringen N.V.

• AEGON Levensverzekering N.V.  

• AEGON Spaarkas N.V.  

The Sustainability statements have been prepared in the context of new sustainability reporting standards, requiring entity-specific interpretations and addressing inherent measurement or evaluation uncertainties, subject to further improvements going forward.

The Sustainability statements have been prepared on a consolidated basis. The scope of consolidation is the same as for the financial statements. See section 7.3.5 and section 7.4.

a.s.r.’s consolidated value chain has been split into four value chains: insurance, asset management, distribution & other services and supporting processes. Based on these value chains, material impacts, risks and opportunities have been identified in both the upstream and downstream value chains, as well as for a.s.r.’s own operations. For the inclusion of material upstream and downstream value chain information, see section 2.3 and section 2.4.

a.s.r. has not used the option to omit a specific piece of information corresponding to intellectual property, know-how or the results of innovation, and a.s.r. has not used the exemption from disclosure of impending developments or matters in the course of negotiation.

Time horizons

a.s.r. has adopted the same time horizons as those outlined in ESRS, which is for the:

• Short term: the current reporting period in the financial statement;

• Medium term: from one year up to five years;

• Long term: more than five years.

Estimates and uncertainties

Certain quantitative metrics and monetary amounts are subject to a high level of measurement uncertainty, especially for some of a.s.r.'s upstream and downstream value chain quantitative metrics (e.g. emissions related to purchased goods & services). In such instances, a.s.r. discloses information about the sources of measurement uncertainty and provides details on the assumptions, approximations and judgments made. For more details, see section 6.5.

Comparative figures

a.s.r. has exercised the option not to present comparative figures in its initial reporting year. This exception is not applicable for EU Taxonomy, hence comparative figures are presented for the EU Taxonomy.

Disclosures stemming from other legislations or generally accepted sustainability reporting pronouncements

Disclosure requirements arising from other legislations or other sustainability reporting standards, as adhered to by a.s.r., are addressed in section 8.3.1.