Sustainability Report 2015
Materiality analysis
G4-18, G4-19
The major sustainability issues for Hannover Re can influence the company's commercial success in the short, medium and long term. With this in mind, we carried out an internal materiality analysis in 2014. In the context of several workshops held with the involvement of representatives from all relevant specialist units and led by an external consulting firm, we identified relevant topics for Hannover Re along the value creation chain, compulsory and voluntary standards as well as long-term trends. We then weighted the topics using an evaluation tool to determine their materiality.
Core issues associated with ESG ratings and UN initiatives have a special relevance for Hannover Re. In 2015 we therefore expanded our list of material issues to include additional topics relating to ESG ratings and UN initiatives. Hannover Re also includes environmental issues and social concerns, despite their minimal relevance to reinsurance business. This is a reflection of our comprehensive approach to sustainability and makes allowance for requirements in connection with (future) regulations.
Subsequent clustering then adds to the discriminatory power of the selected topics and helps to avoid duplications. In this way, Hannover Re has identified 15 material sustainability issues for the company:
| Action field | Clustering of material issues |
| Governance and Dialogue | |
|---|---|
| Responsible corporate governance | |
| Compliance | |
| Risk management | |
| Stakeholder dialogue | |
| Product Responsibility | |
| Risk expertise | |
| Sustainable insurance solutions | |
| ESG in asset management | |
| Customer orientation and satisfaction | |
| Employees | |
| Executive development / Employee advancement | |
| Employee retention | |
| Diversity | |
| Co-determination | |
| Environment and Society | |
| Operational environmental conservation | |
| Supplier management | |
| Social commitment | |
In the context of the materiality analysis Hannover Re also identified nine material issues in the area of financial performance. These are covered by the corporate strategy. Hannover Re reports extensively on the progress of goal achievement in its Annual Report 2015.