1. Integration of Sustainability Risks into Investment Decision-Making Processes

Sustainability risks are taken into account in the investment decision-making process of PrismaLife AG (for details, see 1.1 Investment Process and ESG Integration). Sustainability risks are understood to be environmental, social or governance events or conditions, the occurrence of which could have an actual or potential material negative impact on the net assets, financial position or results of operations as well as on the reputation of the company.

1.1 Investment Process and ESG Integration

PrismaLife AG pursues a two-stage investment process in its actuarial reserves, which includes yield, liquidity and risk parameters as well as ESG goals.

When selecting suitable investments, PrismaLife AG first assesses classic key figures such as yield, duration and credit rating of the issuers. In a second step, an analysis according to ESG factors is carried out. Exclusion criteria apply to all new investments (see details below). Furthermore, the investments of the actuarial reserves should achieve an above-average MSCI ESG score overall (MSCI ESG rating of AA or better). New investments purchased during a financial year should not worsen the ESG score of the investment portfolio at the end of the year. In addition, the level of CO2 emissions of the portfolio is measured. In order to actively manage the carbon balance of our portfolio and avoid an uncontrolled increase, we subject emission-intensive new investments to a strict examination. New investments with a high CO2 intensity (>30% above the previous carbon footprint of the portfolio) can only be permitted if they can demonstrate binding reduction targets in the sense of the Paris Agreement or a leading role in a competitive comparison.

Existing investments are monitored regularly based on the same ESG criteria. In the event of a serious breach of the defined exclusion criteria, PrismaLife AG examines whether and under what conditions the position can be reduced. A divestment is always carried out while safeguarding the economic interests of our customers.

Data from MSCI Solutions LLC is used to determine the ESG score, CO2 emissions and to monitor compliance with the defined exclusion criteria.

For the defined exclusion criteria, we orient ourselves towards the requirements of the BarmeniaGothaer Group.

Business-sector and norm-based exclusion criteria reduce the investment universe by companies whose business activities do not comply with certain requirements. With these criteria, we exclude companies and states from investment that violate our sustainability principles.

The following exclusion criteria apply to investments in corporate bonds and equities:

Furthermore, companies that violate the following standards are excluded:⁷

In the infrastructure sector, the following applies:

Government bonds and quasi-sovereign issuers with serious restrictions on political rights and civil liberties (status “Not Free” in the Freedom House Index) are excluded from investment. Furthermore, the BarmeniaGothaer sustainability concept for states applies. For this purpose, an ESG State Index was developed, the calculation of which includes the most important sustainability criteria, e.g. climate protection, child labour, gender inequality, the rule of law, corruption as well as civil liberties and political rights. Due to the holistic approach, the three sustainability areas – environment, social issues and governance – are weighted almost equally. The ranking within the ESG State Index allows a statement to be made on the sustainability of individual states and is converted into a grading system on a scale of 1 to 5.

In addition to the grading system, government bonds and quasi-sovereign issuers with serious restrictions on political rights and civil liberties (status “Not Free” in the Freedom House Index) are excluded from investment.

1.2 Fund Selection for Unit-Linked Life Insurance

In the free fund investment, the policyholder selects a suitable investment from one or more of the offered investment funds according to their risk appetite. Therefore, a fund universe that is as broad as possible should be made available, with which a customer can map their individual preferences regarding asset class, investment focus, risk appetite and sustainability preferences. PrismaLife AG is constantly expanding the range of funds that pursue different sustainability strategies. Our unit-linked life insurance policies offer a selection of funds for individual investment during the duration of the insurance contract that promote environmental or social characteristics (pursuant to Art. 8 SFDR) or pursue sustainable investment goals (pursuant to Art. 9 SFDR). Where possible, investment options that take sustainability aspects into account are offered in every asset class. These include, for example, the exclusion of controversial industries such as armaments or tobacco, the selection of environmentally leading companies within a sector (best-in-class) or investments in projects with a measurable positive impact on the environment or society (impact investing). However, we do not carry out a general substantive clarification of the range of funds, such as a focus on specific social or environmental topics.

2. Statement on Principal Adverse Impacts of Investment Decisions on Sustainability Factors

PrismaLife AG takes principles with regard to environment, social and governance aspects (ESG factors) into account when selecting investments for its own investments. The statement on the Principal Adverse Impacts (PAI) of the investment decisions of PrismaLife AG on sustainability factors can be found in the following document.

PAI-Statement 2025 (PDF)

3. Integration of Sustainability Risks into the Remuneration Policy

According to Article 5 SFDR, financial market participants must publish information on the extent to which their remuneration policy is consistent with the integration of sustainability risks.

Sustainability risks relate to environmental, social or governance events or conditions, the occurrence of which could have an actual or potential material negative impact on the value of investments or liabilities. The consideration of these risks is implicitly reflected in the existing remuneration guidelines of PrismaLife AG. The variable remuneration of the Executive Board, which is based on quantitative criteria, is not linked to the achievement of explicit ESG goals.

The remuneration policy with distribution partners is designed in such a way that the customer's interest is taken into account and advice is provided according to needs. No differences are made in the remuneration for the mediation of funds with or without sustainability criteria.

1. Sustainability-Related Disclosures on the Guarantee Assets and Special Funds of PrismaLife AG

1.1 Summary

The guarantee assets and special funds of PrismaLife AG are managed in a joint portfolio, the so-called actuarial reserves. Environmental and social characteristics are promoted, but no sustainable investments are pursued. The environmental and social characteristics taken into account include sector-based and value-based exclusions, an analysis according to ESG factors as well as the carbon footprint of the investments.

PrismaLife AG pursues a two-stage investment process that includes yield, liquidity and risk parameters as well as ESG factors. In the first stage, the financial-market-oriented analysis is carried out according to asset classes, sectors, yields and durations as well as classic rating indicators. In the second stage, the potential investment options are examined based on ESG factors and prioritised if applicable. The investment decision is then made on the basis of the respective better ESG score and the lowest possible carbon footprint, as well as taking the defined exclusion criteria into account. To assess the investment options, data from a recognised external data provider specialised in sustainability analyses is used (currently MSCI Solutions LLC). Existing investments are monitored regularly based on the same ESG criteria. In the event of serious violations or controversies, it is examined whether and under what conditions PrismaLife AG can reduce the position. A divestment is always carried out while safeguarding the economic interests of our customers.

1.2 No sustainable investment objective

This financial product promotes environmental or social characteristics, but does not have as its objective sustainable investment.

1.3 Environmental or Social Characteristics of the Financial Product

The environmental and social characteristics of this financial product include the following:

1.4 Investment Strategy

PrismaLife AG pursues an intentionally conservative investment policy aligned with ESG criteria in its actuarial reserves. The primary goal is the generation of the annual interest obligations.

When selecting suitable investments, classic key figures such as yield, duration and credit rating of the issuers are first assessed. Investments that are suitable according to these key figures are measured against ESG criteria in a second step. Exclusion criteria apply to all new investments (see details below). Furthermore, the investments of the actuarial reserves should achieve an above-average MSCI ESG score overall (MSCI ESG rating of AA or better). New investments purchased during a financial year should not worsen the ESG score of the portfolio at the end of the year. In addition, the level of CO2 emissions of the portfolio is measured. In order to actively manage the carbon balance of our portfolio and avoid an uncontrolled increase, we subject emission-intensive new investments to a strict examination. New investments with a high CO2 intensity (>30% above the previous carbon footprint of the portfolio) can only be permitted if they can demonstrate binding reduction targets in the sense of the Paris Agreement or a leading role in a competitive comparison.

The assessment of governance aspects also flows into the consideration. Firstly, when determining the MSCI ESG score, it is assessed, among other things, whether material risks for the investment emanate from the corporate management. Furthermore, minimum protection measures are anchored in the applicable exclusion criteria. In the case of government bonds, procedures of good governance in the sense of democratic governance are also assessed.

Existing investments are monitored regularly based on the same ESG criteria. In the event of a serious breach of the defined exclusion criteria, PrismaLife AG examines whether and under what conditions the position can be reduced. A divestment is always carried out while safeguarding the economic interests of our customers.

For the defined exclusion criteria, we orient ourselves towards the requirements of the BarmeniaGothaer Group.

Business-sector and norm-based exclusion criteria reduce the investment universe by companies whose business activities do not comply with certain requirements. With these criteria, we exclude companies and states from investment that violate our sustainability principles.

The following exclusion criteria apply to investments in corporate bonds and equities:

Furthermore, companies that violate the following standards are excluded:⁷

In the infrastructure sector, the following applies:

Government bonds and quasi-sovereign issuers with serious restrictions on political rights and civil liberties (status “Not Free” in the Freedom House Index) are excluded from investment. Furthermore, the BarmeniaGothaer sustainability concept for states applies. For this purpose, an ESG State Index was developed, the calculation of which includes the most important sustainability criteria, e.g. climate protection, child labour, gender inequality, the rule of law, corruption as well as civil liberties and political rights. Due to the holistic approach, the three sustainability areas – environment, social issues and governance – are weighted almost equally. The ranking within the ESG State Index allows a statement to be made on the sustainability of individual states and is converted into a grading system on a scale of 1 to 5.

In addition to the grading system, government bonds and quasi-sovereign issuers with serious restrictions on political rights and civil liberties (status “Not Free” in the Freedom House Index) are excluded from investment.

1.5 Proportion of Investments

This financial product promotes environmental or social characteristics, but does not have sustainable investment as its objective. It mainly invests in assets aligned with environmental or social characteristics. These investments are made to achieve the promoted environmental or social characteristics. Furthermore, cash may be held in the portfolio for liquidity purposes and for strategic reasons. In addition, the category “Other Investments” may also include investments for which no sustainability data is available.

1.6 Monitoring of Environmental or Social Characteristics

The environmental and social characteristics of the investments in the portfolio are reviewed regularly, at least once a year. PrismaLife AG uses the services of the external data provider MSCI Solutions LLC to assess the investments based on the MSCI ESG score, the carbon footprint and the defined exclusion criteria. The results of the analyses are presented to the investment committee. In the event of serious findings, it is examined whether and under what conditions PrismaLife AG can reduce the position. A divestment is always carried out while safeguarding the economic interests of our customers.

1.7 Methodologies for environmental or social characteristics

PrismaLife AG uses the services of the external data provider MSCI Solutions LLC, which provides sustainability data. The responsible employees of PrismaLife AG are trained in handling this data and constantly update their knowledge on the subject of sustainability through specialist seminars and further training. The focus of the analysis is the MSCI ESG score, which combines a variety of data for companies and states on the handling of sustainability risks and opportunities as well as on adverse sustainability impacts into a rating. Furthermore, data on the carbon footprint and on controversies in connection with the defined exclusion criteria are evaluated.

1.8 Data Sources and Processing

PrismaLife AG uses sustainability data provided by MSCI Solutions LLC to evaluate the defined exclusion criteria and to calculate the ESG score and the carbon footprint of the portfolio. PrismaLife AG does not estimate any data at the present time.

1.9 Limitations to Methodologies and Data

Investments for which MSCI Solutions LLC does not provide data may be made within the framework of “Other Investments”. These investments are included in the regular analysis. Should data become available that argue against an investment, the case will be dealt with in the investment committee and an examination will be carried out to determine whether and under what conditions the position can be reduced.

1.10 Due Diligence

To maintain due diligence, PrismaLife AG takes the most important adverse impacts of investment decisions on sustainability factors in the areas of environment, social and employee matters, respect for human rights and the fight against corruption and bribery into account for the investments of the actuarial reserves. Particular consideration is given to greenhouse gas emissions in the environmental sector and to violations of UNGC principles and involvement in controversial weapons in the social and employee sector. These topics are anchored in the defined exclusion criteria and are monitored regularly.

In this way, we reduce the risk of investments in companies whose business activities have significant adverse impacts on sustainability factors (Principal Adverse Impacts). If an increase in adverse impacts is identified in existing investments, it is examined whether and under what conditions PrismaLife AG can reduce the affected positions. A divestment is always carried out while safeguarding the economic interests of our customers.

1.11 Engagement Policies

PrismaLife AG currently holds no direct equity investments and therefore cannot exercise active voting rights in the sense of an active shareholder policy (Active Ownership). Furthermore, given the relatively small actuarial reserves, PrismaLife AG has hardly any promising opportunities to influence ESG aspects through the active exercise of voting rights. Opportunities to engage in collaborative ESG engagement as a fixed-income investor with a small investment volume, e.g. within the framework of investor initiatives, are currently being examined by PrismaLife AG.

Pre-contractual Disclosure

Guarantee assets of PrismaLife AG (PDF)
Special funds daily allowance (PDF)

Annual (Periodic) Report

Guarantee assets of PrismaLife AG (Financial year 2025) (PDF)
Special funds daily allowance (Financial year 2025) (PDF)

2. Sustainability-Related Disclosures on the Insurance Products of PrismaLife AG

Sustainability-related information on the insurance tariffs of PrismaLife AG can be found on the page of the respective tariff.

FID - Prisma FlexInvest
FIPD - Prisma FlexInvestPlus
DV Bertrandt - Direktversicherung Bertrandt

As of September 25th 2026

Adjustment of information at entity level:

Adjustment of information at product level:

As of June 30th 2026: 

Adjustment of information at entity level:

As of June 30th 2025: 

Adjustment of information at entity level:

As of June 28th 2024: 

Adjustment of information at entity level:

Adjustment of information at product level:

As of June 30th 2023: In the updated version, the information at entity level was expanded to include the statement on the most important adverse impacts on sustainability factors (PAI Statement) in accordance with Delegated Regulation 2022/1288.

As of April 1st 2023: The information on sustainability in accordance with the Regulation on sustainability-related disclosure obligations in the financial services sector (EU) 2019/2088 according to Art. 3-5 was previously stored in the appendix to the sustainability report. In the updated version, the texts on sustainability risks in investment decision-making processes in accordance with Art. 3 SFDR have been clarified and streamlined. The exclusion criterion for government bonds “Authoritarian regimes” was concretised by adding “or unfree states according to Freedom House classification”.

The information on the remuneration policy in connection with the consideration of sustainability risks in accordance with Art. 5 SFDR was supplemented by the statement on the variable remuneration of the Executive Board.

As of December 30th 2022: Publication of the product-related disclosures in accordance with Art. 10 SFDR.