A traditional investment metrics, namely return, maturity and the creditworthiness of the issuers. For this reason, PrismaLife integrates environmental and social criteria as well as governance aspects (ESG) into the management of its actuarial reserves and its own investments. For this purpose, a multi-stage investment process was defined in which traditional investment criteria are combined with ESG factors. The basis is the determination of the investment requirement as part of a portfolio analysis and a market assessment. In the next step, suitable investments are first examined based on traditionalinvestment key figures, i.e. yield, duration and credit rating of the issuers.

An analysis according to ESG factors is then carried out for the investment options determined in this way. 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.

Existing investments are monitored regularly based on the same ESG criteria. In the event of a serious breach of the defined exclusion criteria, PrismaLife 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.

Assessing Sustainability Risks: The MSCI ESG Score

The MSCI ESG score measures a company’s resilience to financially relevant risks in the areas of environment, social issues and corporate governance (ESG) and ranks it on a scale between 0 and 10 based on its management of these risks compared to its industry peers, where 10 is the best achievable value. The table below shows the breakdown of the achievable ESG scores and the corresponding ESG ratings.

*The occurrence of overlaps in the score ranges is due to rounding errors. The scale from 0 to 10 is divided into seven equal parts, each corresponding to a letter rating.
(Source: https://www.msci.com/documents/1296102/34424357/MSCI+ESG+Ratings+Methodology.pdf)

As of June 30th 2026, the MSCI ESG score of PrismaLife AG’s own investment, consisting of actuarial reserves and own investments, was 7.81. This corresponds to the letter rating “AA” and is therefore above average.

Binding Exclusion Criteria for Our Investment

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.

Statutory Transparency and Reporting

We provide transparency on how we manage sustainability risks and on the results achieved in implementing our strategy.