Sustainability Strategy

For Hannover Re, sustainability means a commitment to responsible and transparent corporate governance geared to lasting success. With this in mind, in 2011 we drew up a sustainability strategy for Hannover Re that reflects in concrete terms the higher-order corporate strategy of the Group and in which we explicitly commit to our strategic objective of sustainable value creation.

In 2014 we reviewed our corporate and sustainability strategy in keeping with our three-year strategy cycle. In conformity with the Group Strategy, the sustainability goals that had been set for the strategy cycle just ended were therefore similarly revisited and modified in light of a materiality analysis and to reflect the current need for action. Sustainability goals that had still to be achieved were carried over to the new strategy cycle. Our current Sustainability Strategy for the years 2015 to 2017 defines the following four action fields and specifies 14 concrete goals and 42 measures:

Our Sustainability actions fields

 

Governance and Dialogue

We are committed to responsible and transparent corporate governance geared to lasting success. In this context, we seek an active and continuous dialogue with our stakeholders, whose trust is a vital prerequisite for our entrepreneurial success.

The considerable importance attached to the issue of sustainability is also reflected in the associated responsibility within the enterprise. The Executive Board of the company jointly bears responsibility for and tracks implementation of the sustainability strategy. The German Corporate Governance Code and our own company’s Corporate Governance principles are the foundations of our responsible actions. From our employees – and especially from managers – we expect systematic compliance with our Code of Conduct, which is applicable worldwide. Through our high ethical and social standards we ensure integrity in dealings with our business partners, employees, shareholders and the public at large both as part of our company’s strategic orientation and in day-to-day business.

Product Responsibility

Our reinsurance offerings are geared to the needs of the market and our clients. In view of changing social challenges, we shall increasingly offer products designed to protect against new economic, social and ecological risks. We attach special importance to protection against risks resulting from climate change as well as insurance coverage for socially vulnerable groups.

The responsible management of our investments is a high priority. In the interests of our clients and shareholders, our investment strategy strives to generate a commensurate market return. In accordance with our sustainability strategy this is done by incorporating environmental, social and governance (ESG) criteria into our investment policy.

Employees

Given that our employees are a crucial factor in the success of our company, we have defined strategic principles for human resources management. In order to ensure that we are consistently perceived as an attractive employer by both existing staff and potential new recruits alike, we pay special attention to their skills enhancement and further development. With this in mind, we offer our employees the best possible framework conditions and foster both their professional and personal growth.

The health of our employees is an essential prerequisite for the sustainable development of our business and for safeguarding our high quality standard. Hannover Re's company physicians advise employees on matters of health protection and health promotion. The focus is on the prevention of diseases, e.g. through medical check-ups, workplace inspections, advice and treatment on matters of general medicine as well as vaccinations and vaccination advice.

Along with skills and dedication, a high level of diversity ranks among the cornerstones of our successful business operations. The diversity of our workforce assures our high global quality standard.

Environment and Society

We take our responsibility to the environment and the social sphere in which we operate very seriously and we have made a worldwide commitment.

The focus of our environmental efforts is on reducing the CO2 emissions associated with supplying energy and heat to our premises as well as those caused by our business travel. Above and beyond this, we strive towards the economical and environmentally friendly use of (raw) materials and resources such as paper and water in our offices. In the context of procurement we pay close attention to compliance with social and environmental standards when it comes to choosing products and selecting our suppliers. Our social involvement extends beyond our Home Office in Germany to include our subsidiaries, which conduct their own specific projects targeting social concerns in the individual countries. In terms of content, our efforts are concentrated on the areas of research, learning and art as well as on supporting the voluntary social engagement of our staff.

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