Sustainability Report 2017

Hannover Re Website | Topic Navigation |
Quick Finder
Business development Business model Cash Flow Statement Consolidated Balance Sheet Consolidated Statement of Income Financial position and net assets Forecast Remuneration report Results of operations Risk report Segmental Report
| Sitemap | Deutsch
About us
Organisational profile Product portfolio
Key figures Executive Board Supervisory Board
Group strategy
Equity story Value-based management Business performance
Sustainability Strategy
Materiality analysis Table of goals for 2015 – 2017 (sustainability goals and measures)
Sustainability management
Responsible enterprise management
Management structure Corporate Governance Code Remuneration and performance review
Compliance
Legal framework Data privacy and information security Sanctions Code of Conduct Compliance structure and report
Risk management
Risk landscape Organisation and process of risk management
Stakeholder dialogue
Dialogue formats Advocacy groups and memberships
Risk expertise Sustainable insurance solutions Sustainability in asset management Customer orientation and satisfaction
Employee indicators Executive development and employee advancement
(Further) Training Employee advancement Succession planning Health and wellness
Employee retention
Work-life Balance Employee satisfaction Remuneration and fringe benefits
Diversity
Diversity indicators Generation management Recruitmant of junior staff
Co-Determination
Operational environmental protection
Environmental management system Resource consumption
Energy consumption Paper consumption Water consumption Waste
Emissions Engagement in initiatives
Supplier management
Code of conduct for suppliers and supplier evaluation
Social Commitment
Research Support for art, culture and music Employee engagement and donations
About this report GRI Content Index
Global presence Strategic business groups

Sustainable insurance solutions

By offering sustainable reinsurance solutions and supporting sustainable primary insurance solutions and by integrating sustainability aspects into our underwriting, we are able to respond to the opportunities and risks associated with these issues and come up with innovations. What is more, we can prevent risks having adverse impacts on society and our company. In this way, we help to minimise negative environmental and social repercussions. Sustainable insurance solutions are therefore a topic of major concern to us. Extensive exclusions, however, can also cause the insurance gap to grow, with the result that the protection in place against risks is inadequate. It is therefore important for us to give comprehensive consideration to all the implications.

We transact all lines of property & casualty and life & health reinsurance worldwide. Our products and services are optimally tailored to the individual requirements of our clients and the specific conditions of each market. The ethical and moral standards that we set for our own actions also make themselves felt in our products and services and in our dealings with clients. As a reinsurer, i.e. a provider of business-to-business services, with few exceptions we have no direct contact with end consumers. As a general principle, then, our business activities do not create direct access to financial services. Through our range of products we nevertheless indirectly help many people to access insurance protection. Indeed, it is frequently only thanks to internationally operating reinsurers that primary insurers are even in a position to cover large individual risks and those associated with natural perils. Not only for this reason are sustainable insurance solutions fundamental to us. Furthermore, we assist not only established but also young insurance companies with the cost-intensive acquisition of new business and with increasing insurance density. By delivering insurance solutions such as microinsurance and agricultural insurance products we additionally contribute to social development in structurally deprived regions. These enable people with scant financial means to protect themselves against basic risks such as the consequences of natural disasters or crop failures. The further expansion of sustainable reinsurance solutions and stepping up of our collaboration with primary insurers was a goal of our Sustainability Strategy 2015 – 2017 that we shall carry over to the new 2018 – 2020 strategy cycle.

  • Solutions in property and casualty reinsurance

    In property and casualty reinsurance we attach the utmost importance to minimising adverse environmental effects as well as to improving financial inclusion and increasing resilience worldwide. On the one hand, with these goals in mind we support environmental products such as aquaculture insurance as well as insurance solutions to promote renewable energy sources and carbon sequestration techniques. On the other hand, we also participate in socially oriented products such as index-based disaster finance concepts to assist countries at short notice in the immediate aftermath of natural disasters as well as micro- and agricultural insurance solutions in developing and emerging nations.

    Agricultural insurance

    Demand for the insurance of agricultural land and livestock continues to grow, especially in view of a steadily increasing global population and the associated rising need for food as well as the effects of climate change.

    Insuring agricultural production is particularly important for the development of poor regions. In addition to protecting against variations in yield, a number of positive socioeconomic factors play a role here. These include, among other things, the possibility for insured farmers to be able to invest more easily in agricultural and non-agricultural business sectors and hence contribute to stability in rural areas. Against this backdrop, for example, the InsuResilience initiative of the G7 nations launched at the instigation of the German federal government has set itself the goal of offering insurance protection against climate risks to 400 million poor and at-risk individuals in developing countries by the year 2020. The resulting increasingly widespread implementation of public-private partnerships presents new opportunities for our company to write profitable business in markets that have still to mature. We are already supporting selected projects currently being conducted as part of this initiative that are intended to strengthen the resilience of various countries. The growing availability of new technologies, such as remote sensing by satellites, will enable us to further enlarge our scope of business through innovative and efficient insurance products. These include, for example, parametric covers under which the insurance benefit is dependent not on an actual loss but rather on an objectively measurable criterion (e.g. quantities of precipitation). In 2017 we wrote premium in the mid-triple-digit millions (EUR) in the area of agricultural risks, with around three-quarters of the total amount coming from developing and emerging markets in South America, Asia and Africa.

  • Solutions in life and health reinsurance

    On the life and health reinsurance side we are primarily concerned with the issues of digitalisation and demographic transition. In the area of longevity products we are tackling the trend towards a rising life expectancy with our range of enhanced annuities. Through the online sale of life insurance products as well as our active support for health business on markets with inadequate healthcare provision, we contribute to social and financial inclusion and increase insurance density on a number of markets. Furthermore, we promote insureds' healthy living through holistic lifestyle insurance concepts and in South Africa, for example, we support a primary insurer that enables its customers to invest part of the premium for charitable purposes when they purchase an insurance policy.

    Digitalisation

    Around a third of the population suffers from impairment of the musculoskeletal system. With an innovative solution such as Qinematic Posture Scan software, we enable primary insurers to both mitigate adverse effects and improve their decision-making powers in risk and claim assessment through reliable 3D measurements. Body posture, balance and movement are scanned and generated as 3D video in a matter of just a few minutes. Physical weaknesses or asymmetries are easily identified and specific health issues can thereby be prevented. Reliable digital 3D measurements can significantly improve the insurer's decision-making powers during underwriting as well as claims management.

Download
Save page My Sustainability Report (0) Product responsibility
More Information

Topic related links within the report:

Company portrait Advocacy groups and memberships

GRI Disclosures: 103-1103-2103-3203-1FS6FS7FS8FS13FS14

Topic related links outside the report:

Website: Agricultural, Livestock and Bloodstock business - a growing sector Website: Charitable insurance Website: Discovery & Hannover Re: Vitality Active – „Shared Value“-insurance model Website: Qinematic® & Hannover Re: Posture Scan Software Website: Facultative Website: Longevity risk on a bulk basis AR 2017: Life & Health reinsurance AR 2017: Property & Casualty reinsurance Website: Property and casualty reinsurance Website: Life and health reinsurance

Topic Navigation and sitemap

Build your tailor-made report with the topic navigation feature. By selecting the topics of your interest & choice, all relevant pages will be listed below. From there you can directly jump to the corresponding page.
By clicking the "send" button you can save the topics of your choice and consequently navigate through the report within your selection. Not relevant contents will be marked as inactive in the first navigation level and hidden in the lower navigation levels. To change or remove your selection and return to the entire report, please click on "remove selection".