For us, 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 that reflects in concrete terms the higher-order Group strategy of the Group and in which we explicitly commit to our strategic objective of sustainable value creation.
In 2014 we reviewed our Group 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 four action fields and specifies 14 concrete goals and 42 measures.
The revised Group Strategy 2018 – 2020, which is expected to be unveiled in September 2017, sets in motion a new strategy cycle in the context of which the Sustainability Strategy will also be revisited.
The considerable importance attached to the issue of sustainability is also reflected in the associated responsibility within the enterprise. Our Executive Board jointly bears responsibility for and tracks implementation of the sustainability strategy. The German Corporate Governance Code and our company’s Corporate Governance principles are the foundations of our actions. From our employees and especially from managers we expect systematic compliance with our Code of Conduct, which is applicable worldwide. Both as part of our company’s strategic orientation and in day-to-day business we act with integrity in dealings with our business partners, employees, shareholders and the public at large. We seek an open and wide-ranging dialogue with our stakeholders. Their trust is a vital prerequisite for our entrepreneurial success.
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 risk return. In accordance with our Sustainability Strategy this is done by incorporating environmental, social and governance criteria (ESG criteria) into our investment policy.
Given that our employees are a crucial factor in the success of our company, we have defined strategic principles for human resources management. We always want to be perceived as an attractive employer by both existing staff and potential new recruits alike. Special attention is paid to the skills enhancement and further development of our workforce. With this in mind, we offer our employees the best possible framework conditions and foster both their professional and personal growth.
The physical and mental well-being of our employees is an essential prerequisite for the sustainable development of our business and for safeguarding our high quality standards. Our company physician advises our 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.
We take our responsibility to the environment and the social sphere in which we operate very seriously. We have therefore made a worldwide commitment to these issues.
The supply of energy and heat to our premises and the business travel that we undertake give rise to CO2 emissions. The focus of our environmental conservation efforts is on reducing these emissions. 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. When it comes to choosing products and selecting suppliers, we pay close attention to compliance with social and environmental standards.
Our social involvement extends beyond our Home Office in Hannover to include our international 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.