Imkon-Sug'urta JSC is committed to the principles of sustainable development and responsible business conduct, integrating Environmental, Social and Governance (ESG) principles into corporate governance, underwriting, risk management and decision-making processes.

The Company seeks to create long-term value for its clients, partners, employees, shareholders and society by taking environmental, social and governance factors into account in its operations.

Since 2025, the Company has been implementing an Environmental & Social Management System (ESMS) to identify, assess, monitor and manage ESG risks.

Objectives of the ESG approach

The ESG approach is aimed at:

·   developing responsible insurance practices;

·   improving underwriting and risk management;

·   upholding the principles of corporate governance and business ethics;

·   strengthening social and environmental responsibility;

·   ensuring transparency of operations;

·   meeting the requirements of international financial institutions and aligning with international best practices.

ESG principles and internal procedures

The Company has internal policies and procedures governing:

·   the assessment of environmental and social risks;

·   the application of ESG criteria when insuring corporate clients;

·   Environmental & Social Due Diligence (ESDD), where required;

·   monitoring of the insurance portfolio;

·   preparation of ESG reports.

The list of activities excluded from insurance coverage forms an integral part of this Policy.

ESG assessment procedure

When reviewing insurance applications from legal entities, the Company carries out an ESG assessment that includes:

·   identifying the client's type of business activity;

·   classifying projects by risk category (A, B or C);

·   checking compliance with internal ESG requirements;

·   conducting ESDD for higher-risk projects;

·   making an insurance decision based on the assessment results.

List of activities excluded from insurance coverage

The Company does not insure, or considers under a special procedure, activities related to:

1. activities prohibited by the laws of the Republic of Uzbekistan or by international conventions and agreements;

2. the production of or trade in weapons, ammunition, military equipment, and biological, chemical or nuclear weapons;

3. nuclear fuel processing;

4. the production of or trade in strong alcoholic beverages, excluding beer and wine;

5. the production of or trade in tobacco products;

6. casinos and gambling;

7. radioactive materials, except in cases permitted under international standards;

8. the production of or trade in unbonded asbestos fibres;

9. marine fishing using drift nets longer than 2.5 kilometres;

10. the use of forced labour or prohibited forms of child labour;

11. unsustainable logging activities;

12. the production of or trade in timber originating from unsustainably managed forests;

13. coal-related projects exceeding the established ESG thresholds;

14. activities of organisations that do not comply with the Company's ESG Policy;

15. trade conducted without the required permits;

16. activities prohibited by international agreements on the protection of biodiversity and cultural heritage;

17. the transportation of oil and hazardous cargo by vessels that do not comply with International Maritime Organization (IMO) requirements;

18. the production of fur products;

19. the production, export or import of mercury and mercury-containing products where such activities are restricted by international agreements.

Special review procedure

Projects with elevated environmental or social risks are subject to Environmental & Social Due Diligence (ESDD).

Based on the assessment results, a decision on entering into an insurance contract is made in accordance with this Policy and the Company's internal documents.

Corporate governance

Within the corporate governance framework, the Company applies internal ESG policies and procedures; appoints persons responsible for ESG assessment; monitors compliance with ESG requirements; monitors the insurance portfolio and prepares ESG reports; and engages with Ipoteka Bank and other stakeholders on sustainable development matters.

Final provisions

Imkon-Sug'urta JSC regards ESG as an integral part of its sustainable development strategy and will continue improving its environmental, social and governance risk management system by adopting international best practices in responsible insurance.

On a quarterly basis, the Company submits a report to Ipoteka Bank's Sustainable Development Department (SDD) on the compliance of concluded insurance and reinsurance contracts with ESG standards.

The report contains information on screening the Company's corporate clients by type of business activity during the review of insurance applications, the allocation of responsibilities among authorised persons, and the control and monitoring of the compliance of insurance and reinsurance contracts with ESG standards.

The report also includes information on Category A projects and Category B projects with a sum insured exceeding EUR 300,000. For such projects, the client is required to submit a completed and signed ESDD Questionnaire as part of the environmental and social assessment procedure.