Our governance & responsible business practices

ARTICLE

By fostering a culture of integrity and ethical decision-making, we not only protect the interests of our customers and partners, but also contribute to the long-term sustainability of our business.

Good governance is the backbone of responsible business practices, especially in the health and life insurance sector, where trust and reliability are paramount. At AIA Australia, good governance means maintaining the highest standards of ethical conduct and accountability in our operations. It includes robust risk management, stringent regulatory compliance, and a commitment to stakeholder engagement.
 
Central to our commitment to good governance is our Code of Conduct, which serves as a guiding framework for all employees. By adhering to our Code, we ensure that our business practices reflect our core values and supports the leadership essentials of Clarity, Courage and Humanity. It also allows us to do the rights things, in the right way as a core principle of our operating philosophy.

Responsible investment

  • Our approach to sustainable investment is aligned with the AIA Group. ESG factors are integrated from the bottom up, forming part of a comprehensive approach to investment decision-making.  Companies that have strong ESG commitments often deliver higher returns and create sustainable value over the long-term – at AIA Australia this helps to secure investment income so we can continue to meet the protection needs of our customers.

  • Our approach to evaluating ESG performance includes an initial assessment of ESG factors which directly impact risk management and profitability. This review then evolves into a comprehensive engagement with investee companies. Our approach is embedded into the investment function via a policy framework that applies to all asset classes within our directly managed investment portfolios. This includes fixed income and equity research processes, development and redevelopment of real estate assets, the selection of external investment managers and the exercise of voting rights.

  • AIA Australia has divested all coal mining and coal fired power investments in its internally managed portfolios and is also aligned to Group-wide exclusions on tobacco and munitions.

  • Board and Board Risk and Compliance Committee: The AIA Australia Board of Directors have an overarching responsibility for ESG and provide direction, guidance and strategic consideration of ESG within the Company strategy. In addition to regular reporting from management to the Board, more detailed oversight of elements within the ESG Strategy and Climate Risk and Opportunities assessment is exercised through the Board’s Risk and Compliance Committee (BRCC).
Learn more about the AIA Coal Investment Statement

Modern Slavery Statement

AIA Australia takes its obligations under the Modern Slavery Act seriously and is committed to playing its important role in combatting Modern Slavery across global supply chains.
View full statement

AIA Supplier code of conduct

At AIA Australia, we strongly encourage sound environmental performance, social wellbeing and governance (ESG) practices among our suppliers. This Supplier Code is a guide to our suppliers to facilitate broader improvement in ESG performance for them, AIA Australia, and the communities we serve.
View Supplier Code of Conduct

Board and Board Risk and Compliance Committee

The AIA Australia Board of Directors have an overarching responsibility for ESG and provide direction, guidance and strategic consideration of ESG within the Company strategy. In addition to regular reporting from management to the Board, more detailed oversight of elements within the ESG Strategy and Climate Risk and Opportunities assessment is exercised through the Board’s Risk and Compliance Committee (BRCC). List of AIA Board of Directors.

ESG Committee

Our ESG Committee consists of volunteers across the business, and is sponsored by our Chief of Strategy, Data and Innovation and chaired by our Senior ESG Manager. The primary purpose of the ESG Committee is to support the development and implementation of an appropriate localised ESG strategy, taking into account the requirements and expectations of the AIA Group ESG Strategy, AIA Australia stakeholders, and local priorities.

Memberships

UN Global Compact
Signatory
Principles for Responsible Investment (PRI)
Signatory
Principles for Sustainable Insurance (PSI)
Signatory

Industry Standards

As a member of the Council of Australian Life Insurers (CALI), we are a signatory to the Life Insurance Code of Practice in the interests of serving and supporting our customers.
 
You can access more information about the Life Insurance Code of Practice here.

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