Health insurer Menzis no longer invests in pizzas and cola – Menzis is the first Dutch health insurer to stop investing in unhealthy fast food, the company announced on Wednesday. “Menzis” thinks it is no longer of this time that a health insurer invests in fast food companies.
Earlier this year, the insurer already left McDonald’s, now Menzis is also selling shares of Coca-Cola and the parent company of Pizza Hut.
Health insurers came into a storm of criticism last month when Dagblad van het Noorden and Leeuwarder Courant wrote that they all have millions of euros worth of shares in fast food companies.
Health experts, MPs and State Secretary Maarten van Ooijen (Public Health) expressed their concerns.
Menzis says it decided last year to sell all its fast food investments. In the first quarter, the insurer sold its shares of McDonald’s. No later than the third quarter, the company sells its stakes in Coca-Cola and Yum!, the parent company of Pizza Hut and Kentucky Fried Chicken. “Health insurer” Menzis”
“We want to focus more explicitly on themes that are socially relevant and fit our identity,” says asset management manager Desiree Wareman. “All the companies in which we invest must therefore fit within our sustainability requirements and those surrounding health.” Later this year, the company will also come up with policies on alcohol, cannabis, gambling, animal welfare and biodiversity.
According to the latest figures, the three fast food companies account for about 0.7 percent of Menzis’ portfolio. The financial impact of the sale is not immediately clear.