Corporate Responsibility in Mandatum Life
Mandatum Life’s corporate responsibility is based on the cornerstones of its operations: increasing and securing the financial welfare of its customers and the company’s business success.
Successful Business Operations Contribute to Well-being
Responsible business conduct requires ensuring the profitability and development of the company’s operations. As one of the largest corporate taxpayers in Finland, Mandatum Life contributes directly to the well-being of Finnish society through the taxes paid on its business profits. To secure its business success, Mandatum Life has in place, among other things, an active HR policy. The company believes that greater employee work satisfaction leads to improved customer satisfaction and thus more profitable business.
Providing Security Fosters Entrepreneurship
Mandatum Life provides security to its self-employed customers and their families, and safeguards the future of the company in the event of the sudden illness, disability or death of the entrepreneur. While statutory cover provides a basic level of security, supplementary insurance offers entrepreneurs better possibilities to focus on managing their company, to cope better in the face of life and health risks, and to secure their income level during retirement.
Remuneration Impacts Well-being at Work
Mandatum Life helps companies in developing HR strategies and processes. Providing the right rewards is one way for companies to offer their employees an effective financial incentive that enhances their motivation and can also be used to supplement pension cover. Additionally, a responsible customer company can take care of its employees and indirectly also their families by offering supplementary cover against, for example, disability and death.
Responsibility as Part of Investment Operations
Mandatum Life wants to increase the financial welfare of its customers and secure their accrued wealth. Mandatum Life strives to achieve these goals by applying responsible and open investment principles and by actively monitoring its progress in this area. Mandatum Life’s investment managers and analysts are in the best position to understand how various investment objects function and to communicate on them with the parties in charge of them. In reporting on and monitoring responsible investment operations, Mandatum Life’s Investment Management team is assisted by a dedicated risk management unit. Mandatum Life Wealth Management has signed the UN’s Principles for Responsible Investment (UN PRI).
The indemnities paid by Mandatum Life help companies, and people and their families to cope better in difficult situations. In 2013, Mandatum Life paid out a total of approximately EUR 320 million in pensions to 61,000 pensioners, as well as other indemnities totaling EUR 415 million to 38,000 insured.