Swiss Re's Policy Engagement

Dialogue is part of Swiss Re's DNA. Our engagement with external stakeholders therefore includes dialogue with local (city/municipal), regional (cantonal), national and international policymakers, government representatives, international organisations and financial institutions, and opinion leaders.

We appreciate this dialogue as an opportunity to stay abreast of current developments, explain Swiss Re's position, inform and shape the policy debate about matters of interest for us, and, not least, learn about trends and developments important for our business at all political levels.

Our engagement and dialogue with all our stakeholders is based on trust, mutual respect and integrity and is governed by published governance guidelines such as Swiss Re's Code of Conduct.

Swiss Re engages in advocacy activities in the European Union. This includes stakeholders such as governments, national and supranational authorities. Our engagement is done either directly or through trade associations. Swiss Re is a member of several industry organisations and discloses relevant information regarding its activities and memberships in the EU transparency register.

In 2023 Swiss Re's membership fees to industry trade association memberships in Swiss Re's top three markets by premium plus Switzerland amounted to USD 1'567'681 (2022: USD 1'841'650.-; 2021: USD 1'629'164.- (USA: APCIA, ACLI, SFAA, UK: ABI, Australia: ICA, Switzerland: SVV).

In 2023, Swiss Re's total monetary contributions to and spending for political campaigns, political organizations, lobbyists or lobbying organizations, trade associations and other tax-exempt groups across Swiss Re's top three markets by premium (USA, UK, Australia) and Switzerland as our Headquarters location was USD 2'421'344. (2022: USD 2'642'892.-; 2021: USD 2'454'098.-).

Our policy engagement is particularly relevant in Switzerland, our global Headquarters location since 1863 and where Swiss Re has about 3 400 employees, close to 25% of its global workforce.

In the absence of state funding, political parties and organisations have to rely on private donations from corporations and individuals to support their activities. As a corporate citizen and in line with applicable laws and regulations, Swiss Re supports the political process in Switzerland as follows:

1) Political parties

Swiss Re supports political parties, organisations or groups who – based on their political programmes and activities – are committed to the principles of open society, freedom, open markets, fair competition, the respect of property and privacy rights, and who support favourable framework conditions for Switzerland as an attractive business and investment location.

Swiss Re takes a particular interest in encouraging young people to engage in political activities. Starting in 2021, Swiss Re has specifically increased its financial support to young political organisations that qualify for support based on the above criteria.

2) Campaigns

Switzerland's political system has strong direct democratic features with frequent public votes (initiatives, referenda) and elections at local, regional (cantonal) and federal levels.

Organisations such as industry and sector / trade associations (eg economiesuisse, Swiss Insurance Association, Chambers of Commerce) inform and explain the position of their members and of the corporate community to the electorate to enable it to build an informed opinion. Campaigns thus form an integral part of the political process.

Through its membership contributions to the Swiss Insurance Association (SVV) and the Zurich Chamber of Commerce, Swiss Re annually contributes to campaign funds managed by the Swiss Insurance Association, economiesuisse and (on cantonal level) the Zurich Chamber of Commerce.

Given this regular annual support to campaign funding, Swiss Re does not, a priori, provide additional direct campaign support. However, Swiss Re may still consider direct campaign support if budget allows and if the topic at hand is deemed directly relevant for Swiss Re.

3) Individual candidates standing for election to public office

Swiss Re may provide financial support to election campaigns of individual candidates standing for election to public office and whose own or related party affiliation programme satisfies the criteria defined above.

Furthermore, Swiss Re will exceptionally consider election campaign support requests from own employees, provided budget is available. When doing so, the same criteria will apply as for external candidate requests.

In 2018, the aggregate amount of Swiss Re's political contributions in Switzerland did not exceed CHF 500'000.-.

In 2019 the amount was CHF 464'000.- (USD 474'544.-).

In 2020 the amount was CHF 485'000.- (USD 525'608.-).

In 2021 the amount was CHF 461'500.- (USD 464'934.-).

In 2022 the amount was CHF 397'000.- (USD 441'242.-)

In 2023 the amount was CHF 433'169.- (USD 474'463.-)

All contributions are made in strict compliance with applicable laws and regulations and with Swiss Re's corporate guidelines and policies, such as anti-bribery and corruption.

The Swiss political system ("Milizsystem") hinges upon the personal engagement of its citizens. All legislative functions at federal, cantonal and communal level, and also many executive functions at the local community level are exercised by citizens in a part-time capacity, based on publicly elected mandates. This is unique and contributes to the stability and resilience of the Swiss political system.

Swiss Re therefore also encourages employees to stand for election to public office at communal, cantonal or federal levels in Switzerland. This support is independent of individual party affiliation and political orientation.

Participation in public offices and authorities in the militia system is deeply rooted in Swiss culture and contributes significantly to Switzerland's political stability and development. Swiss Re strongly encourages the acceptance of public office by employees and supports employees who hold or apply for public office in a public authority. This includes public offices in elected legislative, executive or judicial bodies, such as part-time involvement in municipal, cantonal or federal functions such as local councils, city councils, cantonal councils, involvement in school boards or other militia commissions, lay judges, etc.

In principle, Swiss Re's flexible working time arrangements already facilitate the compatibility of public offices with the requirements of the profession. In addition, Swiss Re grants holders of public office - where necessary - paid leave of up to 20% of their annual working time. A more extensive, individual regulation is possible in principle and will be examined on the basis of the disclosure of the time requirements of the respective office to the direct superior. Swiss Re attaches great importance to finding a viable solution with the respective mandate holder in individual cases and depending on the specific time requirements of a public mandate.

Human Resources must be informed of the acceptance of a public office and the associated time requirements, as well as of the arrangements agreed with the line manager for the duration of the mandate. This ensures that no conflicts of interest arise for Swiss Re and that the maximum weekly working hours are not exceeded.

As part of its engagement, Swiss Re has supported academic research (PoliWork-Studie) on how businesses can support employees in their militia engagements (study in German only): https://poliwork.fhgr.ch/

Swiss Re is part of the company network for democracy which offers its young employees, in particular apprentices and interns, a dialogue about how Switzerland's future may look and what they can do to make it happen.

Swiss Re has been a part of the American business community since 1906. 

In the United States, political support for candidates is made via Swiss Re's Political Action Committee (PAC) which is funded individually via employees. Our political contributions are careful and deliberate. We support those who have a shared vision about the real value of our business to America. 

Every PAC contribution Swiss Re makes is publicly disclosed in line with regulations and is in accordance with the company's governance on the matter.

Our overview includes Swiss Re's three most important markets by premium (USA, UK, Australia – from 2023: previously: China) and Switzerland as Headquarters location.

a) United States: Lobbying, interest representation or similar (state and federal): USD 379'200.-.

b) Switzerland: Local, regional or national political campaigns/organisations/candidate contributions in Switzerland: USD 474'463.-

c) Trade associations or tax-exempt groups: trade association memberships in Swiss Re's top three markets by premium (US: APCIA, ACLI, SFAA, UK: ABI, Australia: ICA) and Switzerland (SVV): total membership fees: USD 1'567'681.-

d) 2023 largest policy spending (markets): Switzerland: total contributions of USD 474'463.- United States: USD 379'200.-

Total policy and trade association membership spending for top three markets (by premium: USA, UK, Australia – from 2022; previously: China) plus Headquarters location Switzerland: USD 2'421'344.-

May 2024