Integrity in dealings with our business partners, shareholders and the public at large is a matter of particular concern for us. Legally correct, responsible and ethical action is a fundamental prerequisite for trust in our company and for its competitiveness. If we are to succeed over the long term, it is vital in all the countries where we operate that we respect and comply with relevant laws and provisions as the legal basis for our business activities. The compliance function is one of four key functions of the governance system required by the Solvency II Directive and is an important element of the internal control system. Compliance is therefore a major concern for us, and it is for this reason that both our strategic planning and our day-to-day business are always conducted on the basis of the highest ethical and legal standards.

Our compliance structures support the observance of laws and directives, e.g. those governing respect for human rights, prevention of corruption, adherence to sanctions and protection of customer data. We inform our employees about relevant rules through regular training and communication measures.

Our Code of Conduct sets out internal rules of conduct that are applicable worldwide. It was revised and approved by the Executive Board most recently in May 2017. Our Code of Conduct for Suppliers similarly requires our suppliers and subcontractors to comply with sustainability criteria.

Ensuring confidentiality, data privacy and data security is of the utmost importance to our company. The most significant requirements in this regard are set out with binding effect for all members of staff in our Code of Conduct and in our information security and data privacy policies. Furthermore, our structures ensure that personal data is handled in conformity with the EU General Data Protection Regulation (GDPR) and the new German Federal Data Protection Act (BDSG).

With the aid of our Tax Guideline (which is applicable Group-wide), the "Tax Compliance System" currently under development and the associated review of all relevant task areas and responsibilities we ensure that going forward, as in the past, the tax claims arising out of our international operations are met in accordance with the relevant national legal requirements.

We have defined in our Code of Conduct and Underwriting Guidelines the processes by means of which we observe sanctions that are relevant to our company. A compliance management system for sanctions, verification software, a Sanctions Screening Guideline and training activities for new staff facilitate the early identification and avoidance of any risk of sanctions violations.

Since June 2012 our DIN EN ISO 14001-certified environmental management system has been in place to protect the environment. In 2015 we also transitioned to the more comprehensive environmental management system EMAS (Eco-Management and Audit Scheme). We publish the annual EMAS environmental statement pursuant to the EMAS III Regulation on our website; the statement for the 2017 financial year can already be viewed there.

An internal Donations Guideline applicable to our Group worldwide makes it clear that through our social engagement we seek primarily to benefit the common good.