The goals defined under our Sustainability Strategy complement and / or specify in greater detail the ten objectives set out in our Group Strategy – especially the ninth objective: "We are committed to sustainability, integrity and compliance".
Goals and measures | Contribution to goal achievement since 2015 |
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Compliance | |
Goal: Expansion of compliance concepts and guidelines in relation to specific topics | |
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This is an ongoing measure. |
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Each year we organise a European Compliance Officer Meeting and additionally hold three teleconferences within this body on an annual basis. Furthermore, a review of the compliance requirements under Solvency II was conducted. |
Responsible, value-based enterprise management | |
Goal: Value creation for our shareholders | |
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For further infortmation see the section Value-based management of the Annual Report. |
Goal: Attractive investment for sustainability-minded investor groups | |
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A regular, active dialogue is conducted with rating agencies. In 2016 we were again listed in the FTSE4Good Index and retained the "Prime" rating from oekom research. |
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In the context of the online Sustainability Report 2016 we have been more responsive to the information requirements of rating agencies and included various additions, for example on topics such as reinsurance solutions. |
Transparency and Disclosure | |
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Goal: Expansion of reporting on sustainability issues | |
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The changeover was completed in 2016 with the compilation of the Sustainability Report for the 2015 financial year. The present Sustainability Report has similarly been drawn up in accordance with the GRI G4 Guidelines, "Core" option. |
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This is an ongoing measure. |
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The interdisciplinary working group has been set up and meets several times a year to reconcile strategic goals and measures and also at shorter intervals in sometimes smaller constellations depending on matters at hand. |
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This is an ongoing measure. |
Extension of Environmental, Social and Governance data (ESG data) collection to include the Group's international locations | This is an ongoing measure. |
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This is an ongoing measure. |
Goal: Purposeful stakeholder dialogue | |
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In November 2016 we participated in an SRI conference. A regular dialogue takes place with SRI investors and rating agencies. |
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This is an ongoing measure. |
Goals and measures | Contribution to goal achievement since 2015 |
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Customer orientation / satisfaction | |
Goal: Step up our dialogue with customers | |
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Our "Building Bridges" seminar series in the Property & Casualty reinsurance business group serves to intensify customer relationships and is regularly expanded to cover current issues. In 2016 our subsidiary E+S Rück held a specialist conference on "Autonomous driving: Legal framework and liability obstacles" for its customers in the German-speaking, Italian and US markets. In the Life & Health reinsurance business group the "ReCent Medical News" newsletter has been an established fixture for some years now, providing insights into medical research findings, case studies and underwriting methods. Multiple customer surveys have been carried out since 2015 (Australia, Italy and worldwide). Work has begun on implementation of our own CRM (Customer Relationship Management) application "CoRe". |
Sustainable insurance solutions | |
Goal: Development and expansion of "sustainable" products | |
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Cooperation with primary insurers in Pakistan, the Philippines, Indonesia and India is being steadily expanded in the growing market for microinsurance products. |
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We encourage the expansion of products relevant to climate change, such as weather insurance and covers for energy-saving warranties, to additional European countries. Index-based disaster finance concepts have been developed for countries in South America and Asia that guarantee prompt financial aid in the event of a natural disaster. |
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In India we play an active part in the expansion of microinsurance solutions and reinsure a growing business volume there. We also work together with primary insurance partners in markets such as Pakistan, the Philippines and Indonesia to provide suitable microinsurance products for the market. In Malaysia we are supporting an initiative intended to expand state-subsidised insurance covers against accident and disability risks. |
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This is an ongoing measure. |
ESG criteria in asset management | |
Goal: Extension of ESG guidelines for asset management | |
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This is an ongoing measure. |
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The existing ESG Investment Policy has already been refined and supplemented with a best-in-class investment approach, including positive screening. Practical implementation of this measure is pursued jointly with the asset management team. The goal is to have integrated positive screening into the investment processes by the end of 2017. |
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In April 2015 we appointed an ESG officer on the Investment Team. |
Goals and measures | Contribution to goal achievement since 2015 |
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Health management | |
Goal: Preserve and restore the performance capability of our staff | |
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In 2016 we held our first "Wellness Day", offering employees at the Hannover location a wide-ranging programme on health and prevention topics. As a result, we rolled out an additional training concept addressing relaxation skills. |
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Since August 2016 we have made an external and – if so desired – anonymous telephone counselling service available to our staff and managers at the Hannover location. |
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Elaboration took place in a dedicated working group. Discussions and consultations with the Employee Council were continued. |
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Under the Employee Assistance Programme (EAP), family members of our staff and managers also have the opportunity to make use of the available services. |
Employee development / Employee advancement | |
Goal: Expansion of further training measures for specialist and executive staff | |
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This is an ongoing measure. |
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In 2015 the HannoverReAcademy was rolled out at the Hannover location learning management system. Our training programme is constantly reviewed with an eye to its orientation and quality. |
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A worldwide employee survey was conducted in 2015 / 2016. Individual measures were explored in the year under review in various areas of the company and, where appropriate, implemented. |
Diversity | |
Goal: Promoting diversity and a work / life balance | |
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The first round of the programme was completed in the year under review. Informational events for a new implementation round were held at the end of 2016 and the internal application process was set in motion. As a result, the next round of the mentoring programme got underway in March 2017. |
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An executive seminar was held on "Gender-specific communication". This is an integral component of our (further) training programme for managers that was continued in 2016. |
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30 places are currently available. The childcare support on offer is expanded as necessary; in 2016 there was no additional requirement. |
Goals and measures | Contribution to goal achievement since 2015 |
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Environmental protection | |
Goal: Ongoing reduction of CO2 emissions as well as carbon neutrality at the Hannover location by 2015 | |
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Recertification was completed in November 2015. Our environmental certificate is thus valid for a further 3 years. In 2016 we had additional validation carried out as per the EMAS III Directive and from now on we shall publish a validated EMAS III environmental statement on an annual basis. |
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This is an ongoing measure. |
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This has hitherto been carried out annually through online training for all staff at the Hannover location. The concept is currently under review and will be revised as necessary. |
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This is an ongoing measure. |
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This is an ongoing measure. |
Supplier management | |
Goal: 100% of relevant suppliers are measured by environmental and social standards | |
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Clustering is complete. Suppliers evaluated critically in an ESG risk category are blacklisted and no further orders are placed with them. |
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All major new suppliers for the Hannover location are reviewed with the aid of our established procedure for self-reporting. We require our suppliers to comply with our Code of Conduct for Suppliers. |
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All major suppliers for the Hannover location are regularly reviewed with the aid of our established procedure for self-reporting. Suppliers evaluated critically are blacklisted and no further orders are placed with them. |
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This is an ongoing measure. |
Social commitment | |
Goal: Group-wide coordinated guidelines and recording of social activities | |
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Our internal Donations Guideline ensures that our social activities primarily benefit the common good. |
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This is an ongoing measure. |