Goals and measures |
Contribution to goal achievement since 2015 |
Customer orientation / satisfaction |
Goal: Step up our dialogue with customers |
- Expand avenues for international dialogue
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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 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, North America, Credit, Surety & Political Risk, Germany and US Broker survey).
Implementation of our own CRM (Client Relationship Management) application "CoRe" has begun. This is to be further expanded in subsequent years. |
Sustainable insurance solutions |
Goal: Development and expansion of "sustainable" products |
- Closer cooperation with primary insurers to develop and expand sustainable products
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In addition to developing agricultural insurance products, we are involved in various initiatives and projects. For example, we cooperate with the German Corporation for International Cooperation (GIZ) and participate in the Munich Climate Insurance Initiative (MCII). Furthermore, we provide reinsurance protection through African Risk Capacity, a specialised agency offering insurance covers against extreme weather events for African nations. |
- Development of products that promote, for example, renewable energies
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We encourage the expansion of products relevant to climate change.
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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Demand for insurance solutions for agricultural land and livestock continues to increase owing to steady growth in the world's population, the associated need for food and the impacts of climate change. The insurance of agricultural production is especially important to the development of poor regions. In 2017 we wrote a premium volume in the mid-triple-digit millions of euros in the area of agricultural risks, roughly three-quarters thereof in developing and emerging markets of South America, Asia and Africa. |
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An internal information system on topics relating to emerging risks serves as a basis for dialogue and for keeping our employees updated. The expansion of the dialogue is to be continued in the 2018 – 2020 strategy cycle. |
ESG criteria in asset management |
Goal: Extension of ESG guidelines for asset management |
- Signing of the UN Principles for Responsible Investment (PRI) to be reviewed
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In 2017 a review was launched of the requirements associated with signing the UN PRIs. A specific recommendation for action has not, however, been formulated as yet and a final decision has still to be taken. |
- Refinement of the ESG Investment Policy incl. development of positive screening
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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. The tool was implemented in 2018. Analysis according to ESG criteria encompasses the portfolio, which is also subject to negative screening. Initial findings show a very pleasing picture of the sustainability quality of the current asset portfolio.
Furthermore, since 2018 we have also observed sustainability criteria in relation to fossil fuel resources. We thus exclude issuers that generate 25% or more of their turnover from mining or burning coal. |
- Appointment of an ESG officer on the Investment Team
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In April 2015 we appointed an ESG officer on the Investment Team. |