Commitments
SOGELIFE’s CSR strategy is based on firm CSR commitments: firstly, to be a responsible insurer by incorporating Environmental, Social and Governance criteria within our activities; secondly, to be a responsible employer by improving quality of life in the workplace and boosting diversity and inclusion within the company; and thirdly, to be a responsible investor by creating, investing and promoting investment in sustainable, ecological and socially responsible ways with our partners.
SOGELIFE is publishing a brochure on its SRI goals, which are aligned with those of Societe Generale Group. As part of its Corporate Social Responsibility policy, it is underlining the three SRI guidelines, namely to exclude sectors that operate in ways harmful to human dignity or nature, to promote top performers in the ESG arena, and to commit to their priority areas.
Vision
Corporate Social Responsibility (CSE) is a core aspect to SOGELIFE’s strategy and is in its DNA.
It entails commitment and resolve to create value collectively with our partners, our employees, and all the stakeholders with whom we do business as a life insurer, who actually share this long-term vision. Insurers have a significant role to play in the economy’s future.
“ Building together, with our clients, a better and sustainable future through responsible and innovative financial solutions ”
SOGELIFE COMMITTED TO PROMOTING WOMEN
SOGELIFE is committed to promoting women to positions of responsibility in the financial services sector by signing the "Women in Finance" charter. This initiative, coordinated by the Ministry of Finance in collaboration with ABBL, ALFI, ACA, LuxCMA, LuxFLAG and ABBL, aims to promote a fair balance in this key sector of the Luxembourg ecosystem. This commitment is reflected in the appointment of a Diversity and Inclusion Officer and the definition of measurable objectives at all levels of the company.
Socially Responsible Investment: look-through of life insurance policies
SOGELIFE is maintaining its commitment to the sustainability transition and has created a dedicated Socially Responsible Investment (SRI) tool, available on the new Premium partners’ portal. It clearly shows the proportion of SRI in policies, to guide clients depending on their priorities in this area.
The creation of this module exceeds the requirements of recent regulations and enables partners - and ultimately clients - to understand, compare and progress.
The SRI module comprises two indicators:
The SRI classification
This indicator, aligned with the Sustainable Finance Disclosures Regulation (SFDR) makes it possible to distinguish between sustainable investments with positive impact (Article 9), sustainable & committed investments (Article 8+), sustainable investments (Article 8), and non-SRI investments (Article 6).
The policy’s SRI score
This score is used to compare the policy firstly against a 100% SRI policy, and secondly with SOGELIFE’s overall portfolio. In this way, partners can measure a policy’s progress, while seeing the change compared with Y-1.
Labels
Since March 2021, SOGELIFE has been labelled Responsability Europe and Responsible Business by the National Institute for Sustainable Development and Corporate Social Responsibility. The CSR standard bearer in Luxembourg, the INDR provides comprehensive support and guidance to businesses, disseminates knowledge about CSR and works closely with key sustainable development players.
In 2023, LuxFlag renewed its awarding of its LuxFLAG Sustainable Insurance Product label to SOGELIFE Positive Investment France/Monaco and SOGELIFE Positive Investment Luxembourg products for another year. This label was developed in close conjunction with the insurance sector and ACA (Luxembourg’s Association of Insurance Companies) and is recognised for its tough requirements as regards incorporating ESG into investment strategy.
Sustainability information
As part of its Social and Environmental Responsibility policy, Societe Generale Group intends to take environmental, social and human rights issues into account in the way it conducts its business. SOGELIFE, the Luxembourg-based life insurance company and Societe Generale Group subsidiary, endorses these principles in its investments. SOGELIFE designs products by including an ESG alternative for each investor profile, and in this regard, SOGELIFE has built its product range to be in a position to offer socially responsible investment products, that take into account the main negative impacts in investment decisions on sustainability risks, for example:
SOGELIFE Positive Investment, introduced early in 2021, includes sustainability risks. It is entirely composed of funds selected on the basis of strict environmental, social and governance criteria.
The EURO Fund is managed by Société Générale Assurance. The incorporation of sustainability risks and the due diligence policies are detailed in its extra-financial performance report.
As part of the policyholder's investment decisions, made on the advice of their intermediary, SOGELIFE has a monitoring policy to ensure that its investments fully incorporate and comply with sustainability guidelines.
Pursuant to the SFDR (Sustainable Finance Disclosures Regulation) on publishing information about sustainability, on this page you will find information about our life insurance and endowment policies and those of their investment vehicles that apply environmental or social responsibility factors, or with a sustainable investment objective.
Download the appendices: pre-contract / periodic
The purpose of the European Union's Taxonomy Regulation (EU) 2020/852 is to identify economic activities considered to be environmentally sustainable.
The Euro Fund promotes environmental characteristics within the meaning of the Taxonomy. The proportion of investments meeting these characteristics will be calculated and reported from 1 January 2023.
Statement on principal adverse impacts of investment decisions on sustainability factors-2022