Aegon UK’s CIO: Joining UK Stewardship Code ‘is the right thing to do’
Pardon the Interruption
This article is just an example of the content available to mallowstreet members.
On average over 150 pieces of new content are published from across the industry per month on mallowstreet. Members get access to the latest developments, industry views and a range of in-depth research.
All the content on mallowstreet is accredited for CPD by the PMI and is available to trustees for free.
The UK entity of Dutch insurer Aegon has been accepted as a signatory to the Financial Reporting Council’s UK Stewardship Code.
Aegon UK said the move demonstrates its commitment to become one of the top 25% responsible businesses in the UK by 2025.
Tim Orton, chief investment officer at Aegon UK, said becoming a signatory to the UK Stewardship Code “is the right thing to do and ultimately this is what our customers expect from us”.
He added: “We believe that all asset owners have a responsibility to be good stewards of the world we live in. We are committed to using our influence to drive positive change and create a more sustainable future.”
The Code is a set of voluntary principles that aim to improve the quality of stewardship practices by asset owners, managers and service providers.
To become a signatory, organisations must clearly demonstrate that they have exercised effective stewardship over the previous 12 months through good governance and active engagement, which has helped to generate long-term positive impacts for the economy, the environment, and/or society.
Hilkka Komulainen, head of responsible investment at Aegon UK, said: “We are confident that becoming signatories to the UK Stewardship Code will help us on our journey to embed responsible investing into our investment practices more effectively."
According to the FRC, there are now 277 signatories to the Code, representing £44.6tn assets under management.
Aegon UK is the latest insurer to become a signatory to the Code. Insurers who have been accepted in the past include Aviva UK Life, Canada Life, Pru/M&G, NFU Mutual, Pension Insurance Corporation, Phoenix Group, Rothesay, Royal London, Scottish Widows and Wesleyan.
FRC's list of signatories to the Code can be found here.
How else can insurers drive positive change through their investments?