Our vision: Long-term success in a competitive business
Our corporate strategy encompasses ten strategic principles that apply to all business units and help to ensure that we can realise our vision for the strategy cycle of 2015 to 2017, namely "Long-term success in a competitive business".
We implement the goals of our corporate strategy in accordance with our holistic management system Performance Excellence 2.0. We use key indicators in our target matrix to map the status of goal accomplishment. Details are provided under "Value-based management" in the present Sustainability Report, in the respective sections of the current Annual Report and in our Strategy Brochure.
We subject our corporate strategy to regular scrutiny. This strategy review, which is carried out on a rotating basis, was conducted in 2017 in accordance with our established practice. The updated corporate strategy for the period 2018 – 2020 was already unveiled to the public in October 2017 and more extensive information has since been published on our website.
We have no doubts as to the favourable outlook for the worldwide reinsurance market going forward and our goal throughout the 2018 – 2020 strategy cycle is once again to further expand our position as one of the leading, most profitable globally operating reinsurers on a sustainable basis. We intend to achieve this by creating value through reinsurance for our clients, our shareholders and our employees. With this in mind, we have formulated the new strategy to reflect our vision of "Creating value through reinsurance".
The 2018 – 2020 strategy cycle is shaped by a number of factors, including the advancing digital transformation. The challenges posed by digitalisation and automation quite rightly feature at the very top of our industry's agenda, since technological developments will lead to lasting changes in workflows and processes in the future. This aspect has therefore become an integral component of our corporate strategy: we support our business activities with efficient IT application and we leverage the opportunities offered by digitalisation and automation. Furthermore, the Executive Board has for the first time adopted a stand-alone digitalisation strategy that focuses in detail on the associated opportunities and risks – both with an eye to our business processes and as far as our work as a reinsurer is concerned.