Insurance July 2021

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I-Bytes
Insurance
July Edition 2021
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Table of Contents
1. Financial, M & A Updates...................................................................................................................................1
2. Solution Updates..................................................................................................................................................5
3. Rewards and Recognition Updates...................................................................................................................12
4. Partnership Ecosystem Updates.......................................................................................................................22
5. Environment & Social Updates........................................................................................................................26
6. Miscellaneous Updates......................................................................................................................................29

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Financial, M & A
Updates Insurance Industry

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Financial, M&A Updates
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Assurant (USA) Strengthens its Mobile Services Capabilities in South Korea with
Acquisition of Olivar Co. Ltd.
Assurant, a leading global provider of lifestyle and housing solutions
that support, protect and connect major consumer purchases,
announced it has purchased the remaining shareholding in Olivar Co.
Ltd., a provider of mobile device lifecycle management and asset
disposition in South Korea. The transaction supports Assurant’s
growth strategy for its Connected Living business and strengthens
Assurant’s commitment to deliver a market-leading customer
experience, mobile device protection and device lifecycle
management solutions, as well as innovation through the Assurant
suite of products and services.
Executive Commentary
“We are pleased to be completing the journey we started four years
ago when we first came together with our initial investment,” said
president for International Assurant. “Our global expertise and
capabilities, combined with our local talent and knowledge, bring
best-in-class services that give our clients a strategic advantage in
the South Korean market.”
Description
1

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Generali (Italy)Signs Agreement In Malaysia To Acquire Majority Stake In Axa
Affin Joint Ventures And Plans To Purchase 100% Of Mpi Generali
Generali has signed an agreement in connection with the purchase of
the majority of the shares held by AXA and Affin in the joint ventures,
approximately 53% of AXAAffin General Insurance Berhad and AXA
Affin Life Insurance Berhad respectively. The Group also submitted
an application to the local regulator in order to acquire the remaining
shares of MPI Generali Insurans Berhad held by its Malaysian joint
venture partner, Multi-Purpose Capital Holdings Berhad. The
transactions are subject to the approval of the Malaysian Minister of
Finance and the Central Bank of Malaysia.
CEO International Generali Group said: “The transactions are fully
aligned with Generali’s strategy to strengthen its leadership
position in high potential markets, like Malaysia, which represents
a very attractive opportunity as it is home to a growing
middle-class population and with an insurance penetration rate that
is still relatively low compared to other more mature markets in the
Asian region.”
Description
2

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Generali (Italy) Completes The Acquisition Of Axa Insurance S.A. In Greece and
Commences 20-Year Exclusive Distribution Agreement with Alpha Bank
Generali has completed the acquisition of AXA Group’s Greek
subsidiary, AXA Insurance S.A., following receipt of all necessary
approvals from the relevant regulatory bodies and competition
authorities. The acquisition was first announced on 31st December
2020. As a result of the completion of the acquisition, Generali has
also commenced its 20-year exclusive distribution agreement with
Alpha Bank. The deal is in line with Generali’s strategy to strengthen
its leadership position in Europe as Generali becomes a leading player
in both the P&C (#2), Health (#3) segments and strengthening its
position in Life, while gaining access to an important bancassurance
channel in partnership with Alpha Bank.
CEO International of Generali said: “This acquisition is in line with
Generali’s strategy to consolidate its leadership position in Europe.
We have secured a leading role in the Greek insurance market,
becoming a top-3 player in P&C and Health while strengthening in
the Life segment. The exclusive long term partnership with Alpha
Bank ensures access to 3.1 million customers in Greece through a
network of more than 300 branches, which will be coupled with our
extensive distribution network, to ensure more customers than ever
before will have access to Generali’s comprehensive product
portfolio.”
Description
3

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Intact Financial Corporation and Tryg A/S Complete Acquisition of RSA
Insurance Group (UK) PLC
Intact Financial Corporation announced that, together with Tryg A/S it
has completed the acquisition of RSA Insurance Group plc. Having
received all required approvals. Pursuant to the Acquisition, Intact
retains RSA's Canadian, U.K. and International entities, Tryg retains
RSA’s Swedish and Norwegian businesses, and Intact and Tryg
co-own RSA's Danish business.
"Bringing together Intact and RSA will expand our leadership and
accelerate our strategy as we continue to focus on outperformance
across our business," said Chief Executive Officer Intact Financial
Corporation. "Our teams have worked hard and diligently since we
announced the deal to plan the integration and transition process,
and we are now ready to combine our businesses and start
delivering on our financial objectives. We are delighted to welcome
RSAemployees into the intact family. Together, we will continue to
focus on delivering second-to-none customer experiences and
creating significant value for our shareholders.”
Description
4

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Solutions Updates
Insurance Industry

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Solution Updates
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LGIM (UK) launches Model Portfolio Service
5
Solution Description
Legal & General Investment Management has announced the launch of its Model Portfolio Service a range of growth and income model portfolios with varying
risk profiles. In a move that is deemed highly competitive, the initial pricing will be set at an annual management fee of 6bps, in response to client demand.
Designed to help a broad range of investors, these model portfolios are positioned to help offer attractive returns for clients in line with their investment goals. MPS
brings together an array of expertise and experience from within LGIM. This includes the highly experienced asset allocation team with over 30 investment
professionals, headed up by Emiel van den Heiligenberg. The team collectively oversees £63 billion in multi-asset funds, including the award-winning Multi-Index
Fund range. They will work in partnership with the Solutions team which already oversees £200bn of institutional client portfolios. Justin Onuekwusi, Head of
Retail Multi Asset Funds at LGIM, will lead the Model Portfolio Service proposition. The MPS range, which is available to investors via their financial adviser,
includes 21 growth-focused model portfolios, designed to cater to investors looking to grow their capital over time, and provides three low-cost investment styles:
• The index-focused model portfolios will draw upon LGIM’s broad suite and expertise of passive vehicles, offering exposure to a broad range of ETFs
• ESG-focused model portfolios will invest in ESG-focused funds, including LGIM’s Future World fund range, and benefit from LGIM’s deep experience in
responsible investing
• Blended model portfolios will invest in active funds managed by LGIM and third-party managers

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Solution Updates
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Ping (China) Builds Elderly Care Business with Launch of Ping A Zhen
Yi Nian Brand.
6
Ping An Insurance Company of China Ltd. has launched its elderly care brand Ping and Zhen Yi Nia and its first high-end product line. The
brand is built on Ping An’s strength and resources across finance, healthcare and technology to offer high-quality elderly care services. Ping
an Zhen Yi Nian will combine insurance with access to living in new state-of-the-art elderly care communities. Ping an Zhen Yi Nian
integrates premium nursing, healthtech, finance and insurance services. Ping an Zhen Yi Nian will focus initially on first-tier cities and
selected projects in second-tier cities in China to build comprehensive urban elder care communities.
• Best Services – Customers will have access to healthcare solutions for the elderly developed by the world's top medical and nursing
resources. For example, an international rehabilitation medical team led by Professor Li Jian’an, Associate of the National Academy of
Medicine in the US will design various rehabilitation programs for clients. Ping An will also work with outstanding international elderly care
service provider Benesse Style Care Co., Ltd to create a suite of nursing services to meet different needs.
• Best Location - Ping a Zhen Yi Nian will select the premium locations in the city core areas for the elderly care homes and establish a fast
track for medical referral to help customers get direct access to tertiary general hospitals with specialist services.

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Solution Updates
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Prudential (UK) launches FlexGuard Income indexed variable annuity – a new
investment and income strategy with enhanced flexibility and control
7
Prudential Financial Inc. launched FlexGuard® Income, a new indexed variable annuity that provides customers with
investment strategies for growth potential, along with different levels of protection and the ability to help enhance income
in retirement. With this latest offering in Prudential’s individual solutions product line, customers can choose how they
participate in the market through different index options, both before and after income begins, and have the flexibility to
make changes as their wants and needs evolve. FlexGuard Income is initially available through Prudential Advisors
financial professionals and will expand to additional, third-party broker dealers in fall 2021. The product builds upon the
record success of FlexGuard, the fastest-selling indexed variable annuity launch ever in the industry, achieving more than
$3.5 billion in sales in its first four quarters. Building on the same features as FlexGuard during the savings stage,
FlexGuard Income then adds an innovative new buffered income benefit linked to market performance. If an account
value ever reaches zero, this is followed by an insured income stage that provides a set level of income for life.

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Solution Updates
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Swiss Re’s (Switzerland) iptiQ and ImmoScout24 launch digital loss of rent
insurance
8
Around two-thirds of private landlords have experienced issues such as irregular, incomplete or missing rent payments1; however, 90%
of these do not have any loss of rent insurance2. For this reason, Swiss Re’s iptiQ and ImmoScout24, Germany’s leading online real estate
platform, are launching a loss of rent insurance product that integrates seamlessly into ImmoScout24’s digital ecosystem. In just a few
clicks, private landlords can protect themselves against the financial uncertainties that can arise from new tenancy agreements. Swiss Re’s
iptiQ is a white-label provider of property & casualty and life & health insurance. Its unique B2B2C business model, combined with the
iptiQ platform, enables brands like ImmoScout24 to offer new digital insurance solutions to their customers. As an insurance partner,
iptiQ is now offering ImmoScout24 customers a digital loss of rent insurance product and, in doing so, is giving added security to private
landlords. If there are difficulties with rent payments, the insurance will cover the complete or partial loss of up to six months’ rent
(including additional costs) or a maximum amount of EUR 10 000, with annual premiums starting at EUR 40.90. The new loss of rent
insurance product is available on the German market, can be taken out with just a few clicks and is easily managed online. The insurance
is valid for one year from the start of a new tenancy and can be cancelled on a daily basis.

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Solution Updates
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Unum (USA) Launches Digital Solution to Help Employers Support
Behavioral Health for their Employees
9
Unum Behavioral Health becomes available to employers to help promote and support their employees’ mental health. Unum’s digital
platform delivers employer-tailored communication and educational programs to help reduce the stigma of mental health, boost
awareness and increase engagement with support programs. Behavioral health challenges can include stress, burnout, depression, anxiety
and substance use disorder. All of these can negatively impact well-being and productivity at work and home. According to new Unum
research, half of workers struggle with mental health issues. And 57% said they missed work last year because they felt mentally unwell.
Unum Behavioral Health specifically delivers a personalized and private web portal that will guide the worker to support that is right for
them, including clinical treatment options along with a robust library of mental health resources. Employees are matched with a coach or
licensed therapist within 24 hours. Unum’s research also found 41% of workers said they want their employer to make mental health a
priority. Employers recognize this demand, and 85% said they are concerned about their employees’ mental health and wellness since the
pandemic. Unum is collaborating with McLean Hospital, a leader in psychiatric care, research and education, and Meru Health, an online
mental healthcare provider, on the solution currently available in the U.S.

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Solution Updates
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Willis Towers Watson (UK) launches update of ResQ reserving software
10
Willis Towers Watson has released ResQ 5.2, the latest version of its industry-leading loss reserving software. With a proven track
record, built from more than a decade of development and innovation, ResQ 5.2 delivers a significant upgrade to the functionality
of the software’s reserving and IFRS 17 reporting capabilities. ResQ 5.2 provides an important new reserving feature in the form
of a new ‘drag and drop’ Data Exporter function, making it easier to export the rich information from ResQ for a wide range of
uses without needing to write code. Users can also export diagnostics to aid analysis and use the results in a variety of downstream
systems, including feeding them into data visualization tools to tell the story behind the numbers, or alternatively export to their
ceded reinsurance business, accounting and other teams. Willis Towers Watson has also added new features to ResQ Financial
Reporter, the out-of-the-box software solution specifically designed to help P&C insurers implement IFRS 17. These include the
integration of reporting and accounting mappings, enabling easier connection to customized ledger structures, and the addition of
flexible cash flows to facilitate the modeling of more complex reinsurance and other insurance contracts.

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Solution Updates
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Willis Towers Watson (UK) launches innovative project to support coastal
climate resilience in Fiji and Papua New Guinea
11
Willis Tower Watson a leading global advisory, broking, and solutions company announced a project under the Global Environment Facility’s
Challenge Program for Adaptation Innovation to support the climate adaptation and financial resilience of vulnerable coastal communities to
the adverse impacts of climate change, including major shock events, in Fiji and Papua New Guinea (PNG). Under this project, Financial tools
for small scale fishers in Melanesia, Willis Towers Watson - in collaboration with WWF Pacific, local communities, government, and business
- will support community-level climate resilience in Fiji and PNG through the development of innovative risk financing mechanisms that
provide shock-responsive funds at a local level and incentivize adaptive ecosystem management. Melanesia is as much a large ocean as it is
a collection of small islands, and the region is largely dependent on that ocean, and its coastal margins, for economic wellbeing. From fisher
folk dependent on a reliable catch, through coastal communities made more resilient through the protective capacity of natural ecosystems
and public infrastructure, to tourism businesses generating GDP, coastal peoples are touched by the ocean. Fiji and PNG need financial tools
that empower local communities to respond and recover from extreme climate events, enabling households to protect those assets they
treasure and depend on, including fixed assets as well as ecosystems and natural capital. This project rises to that challenge.

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Rewards & Recognition

R & R Updates
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Assurant (USA) Recognized as One of the 50 Most Community-Minded
Companies in the United States
12
Assurant has been named a 2021 honoree of The Civic 50 by Points of Light, the world’s largest organization dedicated to volunteer service. The
Civic 50 provides a national standard for corporate citizenship and showcases how companies can use their time, skills and resources to drive
social impact in their communities and company. The honorees are companies with annual U.S. revenues of at least $1 billion and are selected
based on four dimensions of their corporate citizenship and social impact programs – investment of resources, integration across business
functions, institutionalization through policies and systems and impact measurement. On June 16, Points of Light will publicly announce and
celebrate The Civic 50 2021 honorees as part of a virtual event that will feature highlights from the survey including equity and diversity findings,
new corporate racial equity research presented by Edelman CEO, Lisa Ross and a conversation on corporate leadership in advancing equity with
PolicyLink CEO and Points of Light CEO. Since it was launched in 2012, The Civic 50 has provided a roadmap for good corporate citizenship and
showcases how committed companies are moving social impact, civic engagement and community to the center of their business. The survey is
administered by True Impact, a company specializing in helping organizations maximize and measure their social and business value and consists
of quantitative and multiple-choice questions that inform the scoring process. The Civic 50 is the only survey and ranking system that exclusively
measures corporate involvement in communities.
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Taiping (Hong Kong) Assets ranked 185th among the top 500 global asset management
companies and entered the top 30 asset management companies in China
13
IPE a well-known European publishing organization released the 2021 IPE Top 500 Asset Managers 2021. Taiping Assets ranked 185th in the
world with an asset management scale of RMB 790 billion. IPE is an international professional media organization focusing on institutional
investors and pension management. It is headquartered in London, England. Its parent company, IPE International Publishers, was established
in 1996. It is an authoritative media focusing on the development of the global asset management industry. It is published through the market
every year. Data combing and publishing authoritative lists such as the world's top 500 asset management companies. The total asset
management scale of the top 500 global asset management companies in 2021 is over 90 trillion euros (RMB 699.3 trillion), of which the top
10 accounted for 33% of the market share, and China Life Assets ranked the highest in China. The asset management agency ranked 38th. In
addition, IPE also announced the top 30 asset management companies in China in 2021, with a total asset management scale of 5.41 trillion
euros (RMB 42.03 trillion), accounting for 15.51 trillion yuan (RMB 124.39 trillion) of the total asset management industry in China. At 34%,
Taiping Assets ranked 27th among Chinese asset management institutions (except Hong Kong, Macao and Taiwan) and 9th among insurance
asset management institutions.
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Taiping (Hong Kong) Life Insurance won two awards for service technology
innovation
14
The 3rd China Insurance Industry Digitalization and Artificial Intelligence Development Conference 2021 and the "Golden Insurance Award" award
ceremony were held in Shanghai. With its innovative performance and project strength, Taiping Life won two major awards, the "Annual Insurance Industry
Digital Transformation Breakthrough Award" and the "Annual Insurance Technology Innovation Project Award". Facing the wave of digital technology and
the trend of the insurance industry, Taiping Life continued to accelerate the promotion of insurance technology innovation. In order to enhance user
experience, increase sales staff and customer stickiness, Taiping Life Insurance will explore a new service model in 2020, innovate the technology "E
shopkeeper" project, and achieve "skip the line, no closing," through face recognition, air signature and other technical means. Zero touch". According to
statistics, there are currently more than 160,000 salesmen using "E shopkeeper" to provide services to customers. The online security business volume has
exceeded one million, and the counter replacement rate has exceeded 50%.At the same time, Taiping Life has upgraded the "Smart Teller Machine 2.0"
project, integrating information query, information completion, policy loan repayment, survival benefit collection, value-added service application and data
printing functions. By the end of 2020, a total of 110 "Smart Teller Machine 2.0" products have been installed throughout the system, covering 19 branches
and 78 third- and fourth-tier institutional outlets, which are deeply loved by users. 2021 is the first year of the "14th Five-Year Plan", and it is also a key year
for Taiping Life Insurance to fully promote the implementation of value priority and achieve value growth.
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Taiping (Hong Kong) Pension won the first "China Insurance Industry
Investment Golden Bull Award"
15
The "Building a New Pattern Based on a New Stage-2021 China Insurance Industry Development Forum" sponsored by China Securities Journal was held in
Beijing, and the first China Insurance Industry Investment Golden Bull Award was awarded at the same time. Among them, Taiping Pension won the "Insurance
Company Investment Golden Bull Award”. For a long time; Taiping Pension has adhered to the concept of value investment and pursued long-term stable
appreciation of assets under the premise of controllable risks. It has experienced the test of multiple bull and bear cycles in the market, and its investment
performance has been highly recognized by the market and customers. Standing at the historical intersection of the "two centuries", Taiping Pension will
thoroughly implement China Taiping Insurance Group's overall requirements of "central enterprise sentiment, customer first, innovation-led, and value-oriented"
in order to be more pragmatic, professional and powerful the measures taken to embark on a new journey and show a new atmosphere. The company will always
adhere to the value orientation, promote high-quality development, make overall plans for business development and risk prevention and control, expand the scale
of pension management assets, optimize the core business of group insurance, strengthen investment management capabilities, and strive to become an important
part of the group's national strategy. Grasp an important force in the development of strategic customers and an important pillar of value enhancement, and
accelerate the construction of an excellent comprehensive service provider of pension asset management and people's livelihood security management, in order to
actively serve the national strategy of population aging, the construction of a healthy China, and a sound multi-level society The guarantee system makes a greater
contribution.
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Taiping (Hong Kong) Assets won two awards in the first "China Insurance
Industry Investment Golden Bull Award"
16
The first "China Insurance Investment Golden Bull Award" award ceremony hosted by China Securities Journal was held in Beijing. Taiping Assets won
the "Insurance Asset Management Company Golden Bull Award" and the "2020 Fixed Income Product Golden Bull Award". Awards. Taiping Assets
Co., Ltd. Deputy General Manager Cao Qi accepted the award on behalf of Taiping Assets. The selection of the first "China Insurance Investment
Golden Bull Award" continued the selection principles of the China Securities Journal's "Golden Bull Award" series of selections that are open, fair and
just. Comprehensive evaluation of insurance asset management companies from multiple dimensions such as business indicators, investment
performance, compliance operations, product innovation, investment research teams, investment strategies, and quantitative indicators such as Sharpe
ratio and net value growth rate, as well as investment philosophy and Qualitative indicators such as the investment research system, product compliance
operation status, and investment research team conduct a comprehensive evaluation of portfolio insurance asset management products, and provide
valuable references for investors. It is of great significance for Taiping Assets to win the first "China Insurance Investment Golden Bull Award". This
is an affirmation of Taiping Assets' investment strength and will also encourage Taiping Assets to use this as an opportunity to compete and cooperate
with various asset management institutions Further improve investment management capabilities, product business innovation and risk management
and control capabilities, serve the development of the main business, and help the Group achieve high-quality value growth.
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Taiping (Hong Kong) Life Insurance Shanxi Branch won the title of "Pacemaker"
in the 2020 Quality Service Competition of Shanxi Financial System
17
The Financial Work Committee of Shanxi Provincial Federation of Trade Unions organized and convened a work
conference of the province’s financial system trade unions. The meeting summarized the province’s financial system work
in 2020, arranged and deployed the work for the next year, and reviewed the province’s financial system advanced
collectives in 2020. Advanced individuals were commended. Taiping Life Insurance Shanxi Branch, with its sound
business philosophy and good reputation in the industry, stood out from many financial institutions in the province and
won the title of "Pacemaker" in the 2020 Shanxi Financial System Quality Service Competition. In 2020, Taiping Life
Insurance Shanxi Branch aims to fully strive to be the first-class in the industry, with steady growth in its business scale,
continuous optimization of insurance regulatory evaluation indicators, meticulously built special services, effective and
orderly prevention and control of the epidemic, and continuous enhancement of employee well-being and sense of
acquisition. The social responsibility is strongly demonstrated, and the brand influence is significantly improved.
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CNO (USA) Financial Group named as one of the Forbes 2021 Best
Employers for Diversity
18
CNO Financial Group has been recognized by Forbes magazine as one of the Best Employers for Diversity of 2021. This is the second consecutive year CNO has
ranked for its diversity, equity and inclusion (DE&I) efforts. CNO was recognized #150 in the 2021 Best Employers for Diversity by Forbes magazine. The
magazine recognized 500 companies based on a survey of 50,000 employees across the nation. Respondents pinpointed the companies they identified as being
most dedicated to diversity, equity, and inclusion. This year's list also reflects the most diverse boards, executive ranks, and proactive diversity and inclusion
initiatives. CNO's DE&I commitment is centered on three priorities that drive its mission and programming: recruitment and selection, associate education and
awareness, and associate development. Over the past several years, CNO has launched several important diversity initiatives, including:
• Hosting unconscious bias training
• Developing four active Business Resource Groups (BRGs); S.O.U.L. African American/Black BRG; PRISM LGBTQ+ BRG; Veterans and Families BRG;
Women's BRG; that focus on mentorship, career development, community outreach, and education
• Creating a DE&I Council and naming a full-time DE&I leader
• Hosting "Safe Place" sessions moderated by BRG leaders for associates to openly discuss their feelings around social injustice issues.
• Introducing a new gender transition policy to support transgender and gender non-conforming associates and others who may be involved in a gender transition
while employed at CNO
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Momentum Metropolitan becomes first South African insurer to support the
international Task Force on Climate-Related Financial Disclosures (TCFD)
19
Momentum Metropolitan Holdings announced that it has become the first South African insurance company to be recognized as a supporter of the
international Task Force on Climate-related Financial Disclosures (TCFD). It joins 16 supporters in South Africa and more than 1,000 supporters
globally in taking action to build a more resilient financial system through climate-related disclosure. The TCFD is highly influential in setting the
highest standards of best practice, based on accurate data and contextualization within the financial services sector. The TCFD recommendations
are structured around four thematic areas that represent core elements of how organizations operate: governance, strategy, risk management, and
metrics and targets. These thematic areas are designed to interlink and inform one another. While MMH will be adopting the TCFD
recommendations, it has already been actively looking into climate-related disclosure and is already supporting existing disclosure frameworks
such as the CDP Climate Change Questionnaire and International Integrated Reporting Framework. Moreover, the Group endorses the Code for
Responsible Investment in South Africa (CRISA), has been a signatory to the United Nations Principle for Responsible Investments (UNPRI)
since 2006, and a member of the International Corporate Governance Network (ICGN). Through its Climate Change Position Statement
implemented in 2019, MMH also acknowledges the global initiatives of COP24 and the Intergovernmental Panel on Climate Change (IPCC).
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Unum (USA) Earns Top Honor for Integrating Civic Work into Business
20
Unum is named one of the 50 most community-minded companies in the U.S. The Civic 50, granted by the Points of Light Organization, measures
corporate involvement in communities and is the national standard for corporate citizenship. Companies with annual U.S. revenues of at least $1
billion are selected based on four dimensions of their corporate citizenship and social impact programs. These areas include investment of
resources, integration across business functions, institutionalization through policies and systems and impact measurement. Unum received a gold
medal for incorporating community engagement and social impact programs throughout its business. In 2020, Unum’s community impact
included:
• $13 million in corporate and employee contributions to charitable causes
• Almost 25,000 employee volunteer hours, despite the pandemic
• 35% increase in employee charitable contributions
• More than $420,000 given to community partners for COVID-19 relief efforts
• A Social Justice Fund to advance racial equity in the communities where employees live and work
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AXA XL (France) Construction Ecosystem receives Efma-Accenture
Innovation in Insurance Award
21
AXA XL, the property & casualty and specialty risk division of AXA, was recently honored with a 2021 Efma-Accenture Innovation
in Insurance Award. AXA XL’s Construction insurance team received Gold honors in the Connected Insurance & Ecosystems 2021
award category for its Construction Ecosystem, a digital network of innovative products and services focused on advancing
technology adoption among construction customers to help them reduce business risk, solve customer issues and improve business
results. The Efma-Accenture Innovation in Insurance Awards competition recognizes the best insurance technology innovations. This
year, it attracted 460 entries from nearly 300 institutions in 55 countries — 100 more submissions than received in 2020. According
to EFMA, this year’s entries reflect the intense drive among insurers to innovate to address new risks and meet changing customer
needs amid continued COVID-19-related disruption. The winners were selected across seven categories by a panel of 25 judges,
including senior executives from insurers worldwide. Each entry was assessed using three criteria: originality; strategic capacity to
generate long-term competitive edge and return on investment; and adaptability for use in other markets and countries.
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Cattolica Assicurazioni (Italy): TUAAssicurazioni and Plastic Free together
to clean up cities from polluting plastics
22
TUA Assicurazioni, in accordance with its vision that makes eco-sustainability a key principle for the future of the Company has signed a partnership
with Plastic Free, an Italian ONLUS which aims to raise awareness and inform people on the correct use of plastic. Especially the disposable one. The
agreement is part of a process of social and environmental responsibility that continues after the two carbon neutral certifications obtained by the
Company for the CO2 emissions produced in 2019 and 2020, in line with the environmental commitment shared by the Parent Company Cattolica. The
collaboration with Plastic Free materializes in the awareness and active participation of the actors of the TUA system in the initiatives promoted by the
non-profit organization on the national territory for the whole of 2021: meetings open to citizens who want to commit themselves to the environment
as volunteers, cleaning up places from polluting plastics public of their cities. Employees, Agents, Collaborators and Customers, with the invitation also
extended to their families, will be invited to participate in the more than 500 collection events scheduled for 2021 with a view to helping to restore parks
and public areas. There will be unpublished initiatives such as the Plogging Day of 20 June, a national event in which people and families, as volunteers
recognizable by Plastic Free-TUA branded harnesses, will spontaneously take action in their reference area to collect the plastic waste present and
dispose of it. and a company day during which the Company's employees, together with their families, will meet in a predefined place to clean it of
abandoned plastics.
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The Cincinnati Insurance (USA) Company Partners with Cambridge Mobile
Telematics to Reduce Distracted Driving
23
Cincinnati Financial Corporation announced that its lead property casualty insurance subsidiary, The Cincinnati Insurance Company, has
launched RideWellSM, a dedicated program to improve all-age drivers' safety, in the additional states of Illinois, New Jersey and West
Virginia. In partnership with Cambridge Mobile Telematics (CMT), the world's leading mobile telematics and analytics provider,
Cincinnati built the new app to foster peace of mind for parents and to encourage safe driving behaviors for all drivers. In the
MyCincinnati app, policyholders can see the scores for all drivers on the policy, including young drivers. This visibility allows
policyholders to address risky behaviors and improve driving habits for all in the family. RideWell, CMT's industry-leading telematics
platform, rewards safe drivers and provides personalized insights based on an individual driving score. The behavior score is based on
five risky behaviors: speeding, harsh acceleration, braking, sharp cornering, and phone use. The app shows drivers when and where they
were driving when any of the risky behaviors occurred and generates a trip score based on CMT's behavioral scoring algorithm. Every
day CMT analyzes millions of miles traveled by millions of drivers. Its research indicates that feedback and user engagement can be
impactful on distracted driving, with the top 30% of drivers on their platform reducing phone distraction by 39% after 30 days.
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Sun Life (Canada) Asia partners with MDRT Academy to become market
leader in quality advice
24
Sun Life Asia has partnered with MDRT Academy - a new association helping financial professionals accelerates their careers -
introducing 670 Sun Life advisors to its membership ranks. The addition of Sun Life advisors from Hong Kong, the Philippines,
Indonesia, Vietnam and Malaysia will make Sun Life the MDRTAcademy’s largest membership company to date. The Academy, together
with Sun Life’s Brighter Gen and Brighter Pro training and development programs, will support Sun Life’s ambition to be a market leader
in quality financial advice. The MDRT Academy was launched in 2017 to help financial services professionals reach greater production
levels and join MDRT. The academy offers a fully digital experience meaning at any time and from anywhere, members can access the
association’s tools, resources and community through an intuitive website and mobile app. The MDRT Academy features an assessment
that helps members better understand and identify their strengths and growth areas - and personalizes content to a member’s needs and
areas of interest. It also offers goal setting and performance-tracking tools, monthly webcasts featuring MDRT members, Performance
Guides, as well as hundreds of MDRT-approved articles, videos and podcast episodes. MDRT Academy members also have the
opportunity to attend MDRT’s Annual Meeting.
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Suncorp (Australia) partner Australian Road Safety Foundation sees
100,000+ pledges to #ChooseRoadSafety
25
The Australian Road Safety Foundation, in partnership with Suncorp commemorated its 15th annual Fatality Free Friday last week, urging Australians
to take care on the roads in an effort to reduce the tragic impact of road trauma on the community. Last year, more than 1,100 people lost their lives on
Australian roads, and each year more Australians are affected by the knock-on effect of road trauma. This year, the Australian Road Safety Foundation
(ARSF) endeavoured to change that. Fatality Free Friday is an occasion marked each May that strives to educate road users in Australia of the dangers
of driving, cycling, motorcycling and walking. This year, the theme of Fatality Free Friday is ‘The Ripple Effect’ – referring to the devastating domino
effect that road trauma can have upon its victims’ family, friends and community. The campaign attracted significant attention from the community,
including Suncorp staff, which makes up some of the 100,000 people who pledged to #ChooseRoadSafety this Fatality Free Friday. Russell White,
Founder and CEO of the ARSF said research indicated there needs be further education for road users, who predominately believe that drivers make up
the majority of the road toll when realistically; more than half are passengers, pedestrians, cyclists and motorcyclists. Deputy Prime Minister Michael
McCormack MP revealed at the Fatality Free Friday press conference that 78 per cent of Australians admit to speeding, and more than two thirds admit
to having broken a road rule. Alarmingly, a quarter of people admit to breaking a road rule at least once a week.
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Environment & Social Updates
Insurance Industry

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The Hartford (USA) Donates $1 Million to Accelerate Homeownership in City
of Hartford’s Asylum Hill Neighborhood
26
The Hartford announced a $1 million grant to a housing initiative led by North side Institutions Neighborhood Alliance to make homeownership more
accessible in Hartford’s Asylum Hill Neighborhood. In combination with other sources, this bridge funding will help reduce blight and enable the
renovation of approximately 24 homes, which equates to $10 million in revitalization over the next five years. The Hartford’s funding will be combined
with previously secured funding from Capital Region Development Authority (CRDA) and state Historic Home Rehabilitation Tax Credits, providing
a multiplier effect and closing the gap in financing required embarking on this project. The homeownership opportunities will be comprised of a mix of
single-family homes and multi-family homes throughout the neighborhood. NINA rehabilitates blighted historic houses and constructs new ones that
fit the historic character of Asylum Hill. The homes are affordable homeownership opportunities for low- to moderate-income families. NINA will
initiate several new construction projects this year and have the capital needed to accelerate the completion of additional projects over the next five
years. The $1 million donation announced is in addition to a $10 million, 5-year commitment The Hartford made last fall to commemorate its 100th
year of being headquartered in Asylum Hill. The funding focuses on addressing the top priorities of residents and non-profits based on findings from
The Hartford’s Asylum Hill Neighborhood Survey. Respondents said the three most critical needs were housing stability, job readiness and greater
public safety.
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Sun Life (Canada) donates $800,000 to help underserved populations in
Montreal affected by diabetes
27
Indigenous peoples, individuals in situations of homelessness or at-risk-of-homelessness—disproportionately affected by diabetes in Montreal,
Sun Life is donating $800,000 to McGill University. The funding, spread over three years, will support the Ingram School of Nursing and develop
a network of five clinics. Clinic locations will be throughout Montreal in collaboration with community partner organizations who currently serve
these at-risk populations. They will focus on three key areas of intervention: reducing the risk of diabetic complications through screening,
promoting the adherence to medication, and emphasizing the importance of diet and physical activity. Building a network of nurse-led clinics
allows ISoN to offer services to at-risk populations who are disproportionately underserved. These communities continue to face the brunt of the
pandemic, and community organizations serving these groups are experiencing unprecedented demand. These new clinics will help mitigate the
effect of the pandemic on the health and well-being of those at risk. Diabetes is a global crisis, affecting more than 463 million people worldwide.
Since 2012, Sun Life has committed more than $38 million globally to diabetes awareness, prevention and care. Building healthy communities,
including our support of diabetes initiatives, is an important part of Sun Life's Sustainability Plan and purpose. For more on how Sun Life is
creating a sustainable, brighter future, you can read Sun Life's 2020 Sustainability Report.
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Sun Life (Canada) donates $825,000 to the Foundation for Black Communities
28
Sun Life is announcing an $825,000 donation, over three years, to the Foundation for Black Communities. This funding will support Black-led
non-profit and charitable organizations serving Black communities across Canada. Many of these community-based organizations face barriers to
funding because they are not registered charities. Sun Life's donation aligns to these priority initiatives:
• Mental health programs that teach coping skills and resilience to youth.
• Physical activity programs for youth that encourage healthy and active lifestyles. One of the areas this will support is diabetes prevention.
These areas are priority concerns for Black communities in Canada, according to the Foundation for Black Communities. They align to Sun Life's
focus on helping all Canadians live healthier lives. Underrepresented communities see a greater risk of diabetes and mental health challenges.
Funding Black-led community organizations that plan to address these health inequities will support lasting, sustainable change. The Foundation
for Black Communities is Canada's first-ever Black-led, Black-mandated philanthropic foundation. It exists to ensure every Black person in
Canada can thrive and define their own future. They will invest in Black-led, Black-serving organizations helping Black communities across
Canada access support to build healthy lifestyles.
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Miscellaneous

Miscellaneous Updates
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Taiping (Hong Kong) Pension has been awarded Class A comprehensive risk assessment by
the China Banking and Insurance Regulatory Commission for the 20th consecutive quarter
29
The China Banking and Insurance Regulatory Commission released the results of the comprehensive risk rating for the first
quarter of 2021, and Taiping Pension has once again received a Class A rating. This is the twentieth consecutive quarter since
the implementation of the comprehensive risk rating system in the second quarter of 2016, Taiping Pension has been rated as
an A, and it is the only pension insurance company that maintains a full A rating. The comprehensive risk rating of the China
Banking and Insurance Regulatory Commission is a risk-oriented supervision method that comprehensively reflects the
overall situation of insurance companies' solvency risks. Through quarterly monitoring and evaluation of insurance
companies’ operational risks, strategic risks, reputation risks and liquidity risks, and other difficult-to-quantify risks,
combined with information such as solvency adequacy ratio and SARMRAscore, the company is divided into four categories:
A, B, C, and D The most objective and comprehensive evaluation of the risk status of insurance companies is to implement
differentiated regulatory measures.
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Phoenix Group (UK) Becomes First Uk Insurer to Join Partnership For
Carbon Accounting Financials
30
Phoenix Group the UK’s largest long-term savings and retirement business announces that it has become the first UK insurer and the
largest insurer to date, to join the Partnership for Carbon Accounting Financials. Joining PCAF will enable Phoenix to take a consistent
approach to assessing and reporting emissions for its investments. Phoenix was among the first UK insurers to make a clear commitment
to help tackle climate change, pledging to be net-zero in its investment portfolios by 2050, in line with science based targets. PCAF is a
global partnership of financial institutions that work together to develop and implement a harmonized approach for assessing and
disclosing the greenhouse gas (GHG) emissions of their loans and investments, and is becoming the market standard approach for
measuring these emissions. PCAF has developed GHG accounting methodologies that can be applied by financial institutions that have
exposure to listed equity and corporate bonds, business loans and unlisted equity, project finance, mortgages, commercial real estate and
motor vehicle loans. PCAF currently represents financial institutions with total financial assets in lending and investments in excess of
$40 trillion dollars. It collaborates with the Net Zero Asset Owner Alliance, The Science Based Targets Initiative (SBTi) and the Paris
Aligned Investment Initiative to expand and standardise its accounting approach.
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