Menzis

Hall of Fame, Report 2018

Menzis is a Dutch health insurance company serving more than two million people.[1]  As of the end of 2016, Menzis held about €1,681 million invested assets.[2]

Menzis excludes investments in companies involved in the development and production of, trade in or maintenance of controversial weapons, including nuclear weapons. Menzis also excludes companies producing specifically designed delivery systems.[3]

The exclusion policy applies to all assets managed, including those managed by external asset managers.[4] In December 2013 Menzis’ fund investments in external funds that invest in emerging markets have been turned into a discretionary mandate to which the exclusion policy fully applies.[5]

Menzis’ exclusion list is based on the findings of data provider Sustainalytics. The exclusion list is published on the website, and as of Q3 of 2017 contains the following companies related to controversial weapons: Airbus; Babcock International; BAE Systems; The Boeing Company; Dassault Aviation; Elbit Systems; Fluor; General Dynamics; Harris; Honeywell International; Huntington Ingalls Industries; Jacobs Engineering; Leonardo; Lockheed Martin; Northrop Grumman; Raytheon; Safran; Singapore Technologies Engineering; Smiths Group plc; Textron and Thales.[6]

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Website: https://www.menzis.nl/englishwebsite

Twitter: @Menzis

Facebook: www.facebook.com/menzis

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[1] Menzis, “in het kort”, website Menzis (https://jaarverslag.menzis.nl/inhetkort/), viewed 23 January 2018.

[2] Menzis, “Geconsolideerde balans per 31 december 2016”, website Menzis, (https://jaarverslag.menzis.nl/mj2016/financileresultaten/geconsolidebalanpedecembe), viewed 23 January 2018.

[3] Menzis, “Strategisch Beleggingsbeleid”, page 9, website Menzis (https://www.menzis.nl/-/m/_opruimen/menzis_vermogensbeheer_2015.pdf?la=nl-nl), viewed 23 January 2018; Menzis “Uitsluitingenlijst criteria 2017- Q3”, website Menzis (https://www.menzis.nl/-/m/publieke-sites/menzis/over-menzis/downloads/over_menzis/vermogensbeheer/2017q3-menzis-uitsluitingenlijst.pdf), viewed 23 January 2018; Menzis, written response to PAX dated 5 May 2015.

[4] Menzis, written response to PAX dated 5 May 2015.

[5] Menzis, “Beleggingsportefeuille voldoet nu volledig aan uitsluitingsbeleid”, 9 December 2013, available in PAX archives.

[6] Menzis, “Uitsluitingen: hierin belegt Menzis niet”, website Menzis (https://www.menzis.nl/-/m/publieke-sites/menzis/over-menzis/downloads/over_menzis/vermogensbeheer/2017q1-menzis-uitsluitingenlijst.pdf), viewed 23 January 2018; Menzis, written response to PAX dated 21 May 2015.

Last modified March 2018

About Maaike Beenes

Maaike Beenes works for the humanitarian disarmament program for PAX in the Netherlands. She researches investments by financial institutions in producers of controversial weapons, notably nuclear weapons and cluster munitions, and is co-author of the reports ‘Don’t Bank on the Bomb’ and ‘Worldwide Investments in Cluster Munitions’. As part of the Don’t Bank on the Bomb campaign of PAX and ICAN, she works together with campaigners around the world to hold banks and other investors accountable for their investments in nuclear and other controversial weapons. She was involved in the negotiations for the Treaty on the Prohibition on Nuclear Weapons on behalf of PAX and ICAN.