GRI reporting and Global Compact Communication on Progress

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GRI reporting and Global Compact Communication on Progress

In preparing the Munich Re corporate responsibility portal, we have for the first time taken as a basis the new G4 reporting standard of the Global Reporting Initiative (GRI) and the Financial Services Sector Supplement. Our aim is to make our performance more transparent and comprehensible.

We report "in accordance with" the "core option" guidelines and – where possible – endeavour to provide information on additional indicators. The "core" option creates a background against which enterprises can provide details of their economic, ecological and management-related performance.

The indicators presented in the GRI disclosures simultaneously fulfil the requirements of the annual UN Global Communication on Progress Report. We thus document the measures Munich Re has taken to firmly anchor the ten principles of the Global Compact in our operations.

The following tables refer to the Munich Re's CR-Portal and other publications and contain comments and explanations of individual indicators and any deviations. KPMG’s “Reasonable assurance” covers all the information and data in the “Consolidated financial statements” and “Management Report” sections of Munich Re’s 2014 Annual Report (see p. 302 therein).

General Standard Disclosures

GRI G4/UN Global Compact
Aspects and Indicators
Link/Page
CR-Portal
Corporate Website (CWS)
MR Annual Report 2014 (AR)
Additional Comment/
Reason for Omission
External Assurance
General Standard Disclosures
Strategy and analysis    
G4-1
Statement from the CEO
Statement by the CEO   No
G4-2
Description of key impacts, risks, and opportunities
Strategy and challenges
Solutions
Materiality analysis
Objectives and measures
Milestones
  No
Organisational profile
G4-3
Name of the organization
Imprint/Service: Back cover p. 317 (AR) Münchener Rückversicherungs-Gesellschaft No
G4-4
Primary brands, products, and services
Munich Re portrait (CWS)
Our brands: back cover p. 319 (AR)
Management report, Group structure: pp. 33-38 (AR)
  Reasonable assurance (PDF, 12 MB)
G4-5
Location of the organization’s headquarters
Imprint Munich, Germany No
G4-6
Number of countries where the organization operates, and names of countries with major operations
Munich Re worldwide (CWS)
ERGO International (CWS)
Munich Health worldwide (CWS)
MEAG locations (MEAG)
Munich Re’s global presence: cover pp. 4-5 (AR)
Group structure: pp. 33-38 (AR)
Stakeholders – Clients and client relationships: pp. 108-110 (AR)
  Reasonable assurance (PDF, 12 MB)
G4-7
Nature of ownership and legal form
Shareholder profile (CWS)
Munich Re shares: pp. 12-15 (AR)
Other information – Parent: pp. 282 (AR)
  Reasonable assurance (PDF, 12 MB)
G4-8
Markets served (including geographic breakdown, sectors served, and types of customers and beneficiaries).
Munich Re Portrait (CWS)
Group structure: pp. 33-38 (AR)
Munich Re’s global presence: cover pp. 4-5 (AR)
Our brands: back cover p. 319 (AR)
Stakeholders – Clients and client relationships: pp. 108-110 (AR)
  Reasonable assurance (PDF, 12 MB)
G4-9
Scale of the organization (employees, operations, net sales, capitalization, quantity of products or services provided)
Business performance: pp. 72-99 (AR)
Financial position: pp. 100 ff. (AR)
Stakeholders - Staff: p. 113 (AR)
Number of staff: p. 287 (AR)
  Reasonable assurance (PDF, 12 MB)
G4-10 / GC 6
Employee indicators (number of employees, gender, contract, type, region)
Munich Re as an employer
Work-life balance
Employee indicators
Group/Employees (CWS)
Staff: pp. 111-114 (AR)
Partially reported – some data not available Reasonable assurance (PDF, 12 MB)
G4-11 / GC 3
Percentage of total employees covered by collective bargaining agreements
Employee indicators Partially reported – some data not available
96% of our employees are represented by an independent trade union or covered by collective bargaining agreements. MR Munich and ERGO are member in the employers' association of insurance industry in Germany and therefore subject to the association’s collective bargaining agreements; the same terms and conditions apply to both union and non-union members.
No
G4-12
Supply chain
Supply chain management Partially reported – some data not available No
G4-13
Significant changes during the reporting period regarding size, structure, ownership or supply chain
Notable events: pp. 8-9 (AR)
Group structure: pp. 33-38 (AR)
  Reasonable assurance (PDF, 12 MB)
Commitments to external initiatives
G4-14
Whether and how the precautionary approach or principle is addressed.
Risk management
Risk management (CWS)
Risk report: pp.117 ff. (AR)
  Reasonable assurance (PDF, 12 MB)
G4-15
Externally developed economic, environmental, and social charters, principles, or other initiatives to which Munich Re subscribes
Our commitments
Memberships and partnerships
  No
G4-16
List memberships of associations and national or international advocacy organizations
Memberships and partnerships   No
Identified Material Aspects and Boundaries
G4-17
All entities included and excluded in the organization’s consolidated financial statements or equivalent documents
List of shareholdings: pp. 292-301 (AR)
Group structure: pp. 33-38 (AR)
  Reasonable assurance (PDF, 12 MB)
G4-18
Process for defining report content and Aspect Boundaries and how the organization has implemented the Reporting Principles
Stakeholder dialogue
Materiality analysis
  No
G4-19
All the material Aspects identified in the process for defining report content.
Materiality analysis
Stakeholder dialogue
Identified and analysed material topics for Munich Re Group:
Climate change
Vulnerability of economies
Demographic change
Access to financial solutions
Digitalisation and new technologies
Emerging risks
No
G4-20
For each material Aspect, report the Aspect Boundary within the organization
Materiality analysis
Stakeholder dialogue
About CR portal
Facts and figures
Climate change: relevant particularly for risk assessment, corporate underwriting and business development
Vulnerability of economies: stable economies are in general relevant for Munich Re,
Demographic change: relevant particularly for the Life and Health sector as well as for the primary insurance sector.
Access to financial solutions: in general relevant for market and business development
Digitalisation and new technologies: in general relevant for the development for future markets/access to clients
Emerging risks: in general relevant for identification/analysis of new risks and opportunities (risk assessment, business potentials)
No
G4-21
For each material Aspect, report the Aspect Boundary outside the organization
Materiality analysis
Stakeholder dialogue
About CR portal
Facts and figures
Climate change: relevant particularly for clients and shareholders
Vulnerability of economies: relevant particularly for shareholders and clients
Demographic change: particularly relevant for clients in the health and life business as well as in primary insurance
Access to financial solutions: potential/new clients/markets
Digitalisation and new technologies: relevant for clients and shareholders
Emerging risks: relevant particularly for shareholders and clients
No
G4-22
Effect of any restatements of information provided in previous reports, and the reasons for such restatements
Facts and figures
1.1    Notes to the consolidated financial statements: pp. 165-179 (AR)
Prospects: pp. 146-153
We generally report on several years in order to show the development of performance indicators. The reasons for restatements of environmental data are generally improved data quality and availability following the introduction of a web-based data management system (SoFi), as well as changes in carbon accounting with revised emission factors. The effects of any restatements are explained for the indicators affected where applicable. No
G4-23
Significant changes from previous reporting periods in the Scope and Aspect Boundaries.
About CR portal
Digitalisation
Emerging Risks
Supply Chain Management
Lobbying
Health Care and Digitalisation
New information available regarding Digitalisation, Emerging Risks, Supply Chain Management, Lobbying and Health Care and Digitalisation No
Stakeholder Engagement
G4-24
List of stakeholder groups engaged
Stakeholder dialogue
Memberships and partnerships
Stakeholders: pp. 108-116 (AR)
  Reasonable assurance (PDF, 12 MB)
G4-25
Basis for identification and selection of stakeholders with whom to engage
Stakeholder dialogue
Memberships and partnerships
  No
G4-26
Approach to stakeholder engagement
Stakeholder dialogue
Materiality analysis
Memberships and partnerships
  No
G4-27
Concerns that have been raised through stakeholder engagement; how Munich Re has responded to those key topics and concerns.
Stakeholder dialogue
Annual General Meeting/Countermotions
Compliance
Partially reported – some data not available  
Report Profile
G4-28
Reporting period
About CR Portal   No
G4-29
Previous report publication
Downloads June 2014 No
G4-30
Reporting cycle
About CR Portal annual No
G4-31
Contact point for questions regarding the report.
Contact Dr. Philipp Hasenmueller
Georg Schwarz
responsibility@munichre.com
No
Report profile: GRI content index
G4-32
The ‘in accordance’ option Munich Re has chosen
Reporting/GRI   No
G4-33
Policy and current practice regarding external assurance
  No external assurance of the CR-report (Portal and Short Report). Consolidated financial statements and Group management report in the Annual Report 2014 with reasonable assurance from KPMG.  
Governance
G4-34
Governance structure including committees responsible for decision-making on ESG impacts.
Risk management
Articles of Association (CWS)
Organisational positioning
Corporate governance report and corporate governance statement: pp. 26-29 (AR)
Group Corporate Responsibility Committee Reasonable assurance (PDF, 12 MB)
G4-35
Process for delegating authority for ESG-topics from the highest governance body to senior executives and other employees.
Organisational positioning
Integrating ESG aspects
Practical implementation
Corporate governance report and corporate governance statement: pp. 26-29 (AR)
No external assurance of the CR-report (Portal and Short Report). Consolidated financial statements and Group management report in the Annual Report 2014 with reasonable assurance from KPMG. Reasonable assurance (PDF, 12 MB)
G4-36
Report whether the organization has appointed an executive-level position with responsibility for ESG-topics, and whether post holders report directly to the highest governance body.
Organisational positioning
Integrating ESG aspects
Practical implementation
  No
G4-37
Processes for consultation between stakeholders and the highest governance body on ESG-topics.
Stakeholder dialogue
Integrating ESG aspects
Mission statement (CWS)
Annual general meeting (CWS)
Stakeholders: pp. 108ff. (AR)
  Reasonable assurance (PDF, 12 MB)
G4-38
Composition of the highest governance body and its committees by: Executive or non-executive, Independence, Tenure, other commitments, Gender, Membership of under-represented social groups, Competences relating to ESG impacts, Stakeholder representation
Supervisory Board (and subsequent pages) (CWS)
Corporate governance report and corporate governance statement: pp. 26-29 (AR)
Management report: p. 43-48 (AR)
Report of the Supervisory Board: pp. 21-25 (AR)
  No
G4-39
Whether the Chair of the highest governance body is also an executive officer.
Corporate governance report and corporate governance statement: pp. 26-29 (AR)   No
G4-40
Nomination process for the highest governance body and its committees including diversity, independence, skills, stakeholder engagement
Corporate governance report and corporate governance statement: p 28 (AR)   No
G4-41
Board conflicts of interest
Corporate governance
Code of Conduct (Section 4) (CWS)
Report of the Supervisory Board: p. 24 (AR)
Corporate governance report and corporate governance statement: p 28 (AR)
  No
G4-42.
Report the highest governance body’s and senior executives’ roles in the development, approval, and updating of the organization’s purpose, value or mission statements, strategies, policies, and goals related to economic, environmental and social impacts.
Organisational positioning   No
G4-43
Report the measures taken to develop and enhance the highest governance body’s collective knowledge of economic, environmental and social topics.
Corporate governance
Integrating ESG aspects
Practical implementation
  No
G4-44
Processes for evaluation of the highest governance body’s performance with respect to governance of economic, environmental and social topics and actions taken in response
Report of the Supervisory Board: pp.21 ff (AR)   No
G4-45
Report the highest governance body’s role in the identification and management of economic, environmental and social impacts, risks, and opportunities and whether stakeholder consultation is used to support the highest governance body’s identification and management of economic, environmental and social impacts, risks, and opportunities.
Strategy & challenges
Corporate governance
Organisational positioning
Report of the Supervisory Board: pp.21 ff (AR)
The Munich Re Corporate Responsibility strategy has been approved by the Board of Management. The Munich Re Corporate Responsibility Department forms part of the Group Development Division, which reports to the Chairman of the Board of Management. Since 2011, an Annual Evaluation Report on Corporate Responsibility has been submitted to the Board of Management. No
G4-46
Highest governance body’s role in reviewing the effectiveness of the organization’s risk management processes for economic, environmental and social topics.
Risk Report: p. 117 f., particularly Control and monitoring systems: p. 120 (AR)
Report of the Supervisory Board: p. 23 (AR)
  Reasonable assurance (PDF, 12 MB)
G4-47
Frequency of the highest governance body’s review of economic, environmental and social impacts, risks, and opportunities.
Report of the Supervisory Board: pp. 21ff. (AR)   No
G4-48
Highest committee or position that formally reviews and approves the organization’s sustainability report and ensures that all material Aspects are covered.
Organisational positioning Head of Group Development – Management Level 1 No
G4-49
Process for communicating critical concerns to the highest governance body.
Investor Relations/Mission statement
Corporate Governance/Annual General Meeting
Whistleblowing Portal
  No
G4-50
Nature and total number of critical concerns communicated to the highest governance body; mechanism(s) used to address and resolve them.
  Not reported No
G4-51
Remuneration policies for the highest governance body and senior executives and performance criteria in the remuneration policy related to economic, environmental and social objectives
Remuneration report (CWS)
Remuneration report: pp. 49 ff. (AR)
Individual three-year objectives (2012–2014) for executive managers are linked to environmental, social or governance metrics and targets relating to approx. 3% of the total remuneration. Reasonable assurance (PDF, 12 MB)
G4-52
Process for determining remuneration
Remuneration report (CWS)
Remuneration report: pp. 49 ff. (AR)
  Reasonable assurance (PDF, 12 MB)
G4-53
Stakeholders’ views are sought and taken into account regarding remuneration, including the results of votes on remuneration policies and proposals, if applicable.
  Not reported  
G4-54
Ratio of the annual total compensation for the organization’s highest-paid individual in each country of significant operations to the median annual total compensation for all employees (excluding the highest-paid individual) in the same country.
  Not reported – data not available  
G4-55
Ratio of percentage increase in annual total compensation for the organization’s highest-paid individual in each country of significant operations to the median percentage increase in annual total compensation for all employees (excluding the highest-paid individual) in the same country.
  Not reported – data not available  
Ethics and Integrity
G4-56/ GC 10
Munich Re’s values, principles, standards and norms of behavior
Our commitments
Guiding principles
Compliance
Code of Conduct:  (ERGO , Group) (CWS)
  No
G4-57/ GC 10
Internal and external mechanisms for seeking advice on ethical and lawful behavior, and organizational integrity
Anti-fraud Management
Compliance
Code of Conduct:  (ERGO , Group) (CWS)
  No
G4-58/ GC 10
Internal and external mechanisms for reporting concerns about unethical or unlawful behavior, and organizational integrity
Compliance
Anti-fraud Management
Lobbying
  No

Economic

GRI G4/UN Global Compact
Aspects and Indicators
Link/Page
CR-Portal
Corporate Website (CWS)
MR Annual Report 2014 (AR)
Additional Comment/
Reason for Omission
External Assurance
Economic
Economic Performance
G4-DMA Our Strategy: pp. 16-18 (AR)
Strategy (CWS)
  No
G4-EC1
FS-EC1
Direct economic value generated and distributed
Financial indicators
Key figures (IFRS): cover p. 2 (AR)
Business performance: pp. 72 ff. (AR)
Notes to the consolidated balance sheet – Equity and liabilities, p. 231 (AR)
Personnel expenses: p.282 (AR)

FS-EC1:
Commitment
Social commitment indicators
  Reasonable assurance (PDF, 12 MB)
G4-EC2 / GC 7
Financial implications and other risks and opportunities for the organization’s activities due to climate change
Climate change
Insurance concepts for renewable energies
Investments in infrastructure with focus on renewable energies
Solutions
Focus topics/Climate change
Risk report/Climate change: pp. 135 ff. (AR)
Opportunities report: pp. 142 f. (AR)
  Reasonable assurance (PDF, 12 MB)
G4-EC3
Coverage of the organisation's defined benefit plan obligations
Other accrued liabilities: pp. 192 f. (AR)
Other accrued liabilities: pp. 246 ff. (AR)
  Reasonable assurance (PDF, 12 MB)
G4-EC4
Financial assistance received from government
  To our best knowledge, Munich Re did not receive financial assistance from government. No
Market Presence
G4-DMA Remuneration
Training and personal development
  No
G4-EC5/ GC 6
Ratios of standard entry level wage by gender compared to local minimum wage at significant locations of operation
Personnel expenses: p. 282 (AR) Munich Re salaries are substantially above the local minimum wage level. In general, Munich Re pays wages that are higher than the local minimum wages (where they exist). Reasonable assurance (PDF, 12 MB)
G4-EC6/ GC 6
Proportion of senior management hired from the local community at significant locations of operation.
Training and personal development
Staff: pp. 111ff. (AR)
  Reasonable assurance (PDF, 12 MB)
Indirect Economic Impacts
G4-DMA Our guiding principles
Investments in infrastructure with focus on renewable energies
Insurance concepts for renewable energies
Solutions for developing countries and emerging markets
We use our knowledge to come up with solutions that meet the needs both of our clients and of society and its financial structures, since insurance only works if the risks – including indirect economic impact – can be calculated.  
G4-EC7
Development and impact of infrastructure investments and services supported
Investments in infrastructure with focus on renewable energies
Insurance concepts for renewable energies
Solutions for developing countries and emerging markets
Microinsurances (Primary insurance)
Supply chain management
Munich Climate Insurance Initiative (CWS)
  No
G4-EC8
Significant indirect economic impacts, including the extent of impacts
Investments in infrastructure with focus on renewable energies
Insurance concepts for renewable energies
Solutions for developing countries and emerging markets
Climate change
Focus topics/Climate change
  No
Procurement Practices
G4-DMA Supply chain management
Compliance
  No
G4-EC9
Proportion of spending on local suppliers at significant locations of operation
Supply chain management
Compliance
Only partial data available No

Environmental

GRI G4/UN Global Compact
Aspects and Indicators
Link/Page
CR-Portal
Corporate Website (CWS)
MR Annual Report 2014 (AR)
Additional Comment/
Reason for Omission
External Assurance
Environmental
G4-DMA Environmental management
Operational ecology
Climate protection
Environmental indicators
More detailed environmental indicators
Our guiding principles
Our explanations regarding this DMA applies to the following Aspects: Materials, Energy, Water, Emissions, Effluents and Waste, Products and Services, Compliance, Transport, Supplier Environmental Assessment, Environmental Grievance Mechanisms. No
Materials
G4-EN1/ GC 7,8
Materials used by weight or volume
Environmental indicators
More detailed environmental indicators
  No
G4-EN2/ GC 8
Percentage of materials used that are recycled input materials
Environmental indicators
More detailed environmental indicators
  No
Energy
G4-EN3/ GC 7,8
Energy consumption within the organisation
Environmental indicators
More detailed environmental indicators
Climate protection
Operational ecology
  No
G4-EN4/ GC 8   not reported  
G4-EN5/ GC 8
Energy intensity
More detailed environmental indicators   No
G4-EN6/ GC 8,9
Reduction of energy consumption
More detailed environmental indicators
Climate protection
Operational ecology
  No
G4-EN7/ GC 8,9
Reductions in energy requirements of products and services
Investments in infrastructure with focus on renewable energies
Insurance concepts for renewable energies
Eco-friendly insurance solutions
Climate protection
Responsible investment strategies
  No
Water
G4-EN8 / GC 7,8
Total water withdrawal by source
Operational ecology
More detailed environmental indicators
As a financial services provider, Munich Re is not a water-intensive company. Total water withdrawal 2014 at Group-level by source:
775.051m³
Rain water: 0.06%
Natural water: 0.81%
Tap water: 99.13%
No
G4-EN9/ GC 8
Water sources significantly affected by withdrawal of water
  None No
G4-EN10/ GC 8
Percentage and total volume of water recycled and reused
  This indicator is of limited relevance, no water is recycled nor reused at our sites.
Toilets at our offices in Munich are flushed with rainwater.
No
Biodiversity
G4-EN11/ GC 8   Not material  
G4-EN12/ GC 8   Not material  
G4-EN13/ GC 8   Not material  
G4-EN14/ GC 8   Not material  
Emissions
G4-EN15 / GC 7,8
Direct greenhouse gas (GHG) emissions (Scope 1)
More detailed environmental indicators (XLSX, 35 KB) Partially reported, no data available regarding the use of courier services. No
G4-EN16 / GC 7,8
Energy indirect greenhouse gas (GHG) emissions (Scope 2)
More detailed environmental indicators (XLSX, 35 KB)   No
G4-EN17/ GC 7,8
Other indirect greenhouse gas (GHG) emissions (Scope 3)
More detailed environmental indicators (XLSX, 35 KB)   No
G4- EN18/ GC 8
Greenhouse gas (GHG) emissions intensity
More detailed environmental indicators (XLSX, 35 KB)   No
G4-EN19/ GC 8,9
Reduction of greenhouse gas (GHG) emissions
More detailed environmental indicators (XLSX, 35 KB)
Climate protection
Environmental indicators
  No
G4-EN20/ GC 7,8   Not material No
G4-EN21/ GC 7,8   Not material No
Effluents and Waste
G4-EN22/ GC 8   Not material No
G4-EN23/ GC 8
Total weight of waste by type and disposal method
More detailed environmental indicators (XLSX, 35 KB)   No
G4-EN24/ GC 8
Total number and volume of significant spills
  There were no significant spills of hazardous materials during the reporting period. Our activity as a financial services provider entails very little contact with hazardous materials and significant spills are thus unlikely. No
G4-EN25/ GC 8
Weight of transported, imported, exported, or treated waste deemed hazardous
  Not material. Munich Re works with certified waste disposal entities that guarantee the correct transfer and processing of waste. No
G4-EN26/ GC 8   Not material No
Products and Services
G4-EN27/ GC 7,9
Extent of impact mitigation of environmental impacts of products and services
Investments in infrastructure with focus on renewable energies
Insurance concepts for renewable energies
Eco-friendly insurance solutions
Responsible investment strategies
Focus topics/Climate change
  No
G4-EN28/ GC 8   Not material  
Compliance
G4-EN29/ GC 8
Monetary value and number of non-monetary sanctions for non-compliance with environmental laws and regulations
  None No
Transport
G4-EN30/ GC 8
Significant environmental impacts of transporting products and other goods and materials for the organization's operations, and transporting members of the workforce
Operational ecology
Environmental indicators
More detailed environmental indicators (XLSX, 35 KB)
  No
Overall
G4-EN31/ GC 7,8,9
  Not material No
Supplier Environmental Assessment
G4-EN32/ GC 8
Percentage of new suppliers that were screened using environmental criteria
Supply chain management
Compliance
100% No
G4-EN33/ GC 8 Supply chain management
Compliance
None, not material No
Environmental Grievance Mechanisms
G4-EN34/ GC 8
Number of grievances about environmental impacts
Annual General Meeting/Countermotions (CWS)   NO

Social

GRI G4/UN Global Compact
Aspects and Indicators
Link/Page
CR-Portal
Corporate Website (CWS)
MR Annual Report 2014 (AR)
Additional Comment/
Reason for Omission
External Assurance
Sub-category: Labor Practices and Decent Work
G4-DMA Munich Re as an employer
Training and personal development (PDF, 12 MB)
Staff: pp. 111-113 (AR)
  Reasonable assurance (PDF, 12 MB)
Employment
G4-LA1/ GC 6
Total number and rates of new employee hires and employee turnover by age group, gender and region
Employee indicators Only selected data available (Employee turnover rate) No
G4-LA2
Benefits provided to full-time employees that are not provided to temporary or part-time employees, by significant locations of operation
Remuneration
Work-life balance
Munich Re as an employer/what we offer/salary (CWS)
Munich Re does not differentiate between benefits provided to full-time staff and those provided to part-time staff. No
G4-LA3 / GC 6
Return to work and retention rates after parental leave, by gender
Work-life balance   No
Management Relations
G4-DMA Munich Re as an employer (PDF, 12 MB)
Staff: pp. 111-113 (AR)
Only selected data available (Employee turnover rate) No
G4-LA4/ GC 3
Minimum notice periods regarding operational changes, including whether these are specified in collective agreements

  In the event of operational changes, the Staff Council is duly informed of the action planned in accordance with its right to information, so that it can have a say in whether, when and how such changes are effected No
Occupational Health and Safety
G4-DMA Munich Re as an employer
Health at the workplace
Staff: pp. 111-113 (AR)
  Reasonable assurance (PDF, 12 MB)
G4-LA5
Percentage of total workforce represented in formal joint management-worker health and safety committees
Health at the workplace Data coverage: Germany (Munich Re Munich, ERGO, MEAG): 100% in-house staff/ MR America: 100%
All of Munich Re’s activities/actions in its various lines of business are based on the same principles, but with local freedom of application.
No
G4-LA6
Type of injury and rates of injury, occupational diseases, lost days, and absenteeism, and total number of work-related fatalities
Health at the workplace
Employee indicators
Only partial data available, to some extent due to confidentiality. No
G4-LA7
Workers with high incidence or high risk of diseases related to their occupation
Health at the workplace “Preventing and dealing with stress in general is becoming increasingly important within our health management.” […] No
G4-LA8
Health and safety topics covered in formal agreements with trade unions
  Each company discusses safety at work issues with its own employee representatives. The relevant statutes are applied. No
Training and Education
G4-DMA Munich Re as an employer
Training and personal development
Munich Re as an employer/what we offer/further training and development opportunities (CWS)
Staff: pp. 111-113 (AR)
  No
G4-LA9 / GC 6
Average hours of training per year per employee
Training and personal development
Employee indicators
   
G4-LA10
Programs for skills management and lifelong learning that support the continued employability of employees and assist them in managing career endings
Training and personal development
Munich Re as an employer/what we offer/further training and development opportunities (CWS)
Careers at Munich Re (CWS)
Future excellence in leadership (CWS)
Specialist career (CWS)
  No
G4-LA11/ GC 6
Percentage of employees receiving regular performance and career development reviews, by gender and by employee category
Remuneration Performance appraisals are part of Munich Re’s performance management system. Employees and managers set objectives that are reviewed on a regular basis. Personnel development initiatives are part of the annual appraisal interviews. This is valid for the whole Munich Re Group, including reinsurance, primary insurance (ERGO), Munich Health and MEAG. No
Diversity and Equal Opportunity
G4-DMA Diversity
Staff: pp. 111-113 (AR)
  No
G4-LA12/ GC 6
Composition of governance bodies and breakdown of employees per employee category according to gender, age group, minority group membership, and other indicators of diversity
Munich Re as an employer
Diversity
Employee indicators

Corporate Governance/Supervisory Board (CWS)
Curriculum vitae Supervisory Board (CWS)
Staff: pp. 111-113 (AR)
  No
Equal Remuneration for Women and Men
G4-DMA Remuneration
Diversity
Code of Conduct (CWS) (PDF, 354 KB)
We do not differentiate between men and women in our remuneration system. Our policy on salary determination is not based on gender but on individual expertise, experience and market-based criteria. No
G4-LA13/ GC 6
Ratio of basic salary and remuneration of women to men by employee category, by significant locations of operation
Remuneration
Diversity

Code of Conduct (CWS) (PDF, 354 KB)
Munich Re as an employer/what we offer/salary (CWS)
We do not differentiate between men and women in our remuneration system. Our policy on salary determination is not based on gender but on individual expertise, experience and market-based criteria. No
Supplier Assessment for Labor Practices
G4-DMA Supply chain management
Compliance
Procurement Principles (PDF, 84 KB)
  No
G4-LA14
Percentage of new suppliers that were screened using labor practices criteria
Supply chain management 100% No
G4-LA15
Negative impacts for labor practices in the supply chain and actions taken
Supply chain management None No
Labor Practices Grievance Mechanisms
G4-LA16   Not material No
Sub-category: Human Rights
G4-DMA Our commitments
Managing investments
Objectives and measures
Corporate Responsibility in Business
PRI reporting
PSI reporting
Compliance
Code of Conduct (PDF, 354 KB)
Sustainable Supply Chain Management
This DMA applies to the aspects Investment, Non-discrimination, Freedom of Association and Collective Bargaining, Child Labor, Forced or Compulsory Labor, Security Practices, Indigenous Rights, Assessment and Supplier Human Rights Assessment.   

Observance of human rights is axiomatic for Munich Re. This commitment is manifested e.g. in Munich Re’s participation in the United Nations’ Global Compact (since 2007) and the Principles for Sustainable Insurance (PSI) as well as the Principles on Responsible Investments (PRI). Munich Re is a member of the UN Global Compact Peer Learning Group on Human Rights.

Munich Re (Group) treats the topic of human rights from four perspectives: 1) Employees; 2) Procurement; 3) (Re)Insurance business; 4) Asset Management

Examples:

1) In our Code of Conduct (CoC) we take reference to the UN GC and explicitly list all the principles. Our CoC specifies that we expect our employees to observe the personal dignity, privacy and personality rights of every individual. We do not tolerate any discrimination, sexual harassment, other personal harassment, or insulting behaviour. Neither do we tolerate any intimidation or violence, or the threat thereof.

2) We apply sustainable procurement guidelines throughout the group.

3) In our insurance business we identify and prioritize sensitive topics (those issues which have the highest ESG – environmental, social and governance – challenges), on which we develop positions that apply Group-wide. These are then implemented by the business fields in the form of binding underwriting guidelines, best practices and guidance for our employees. Human Rights are explicitly an important aspect in all dimensions.

4) The major portion of our investments meet sustainable investment criteria that include human rights aspects.

See also specific indicators.
No
 
Investment
G4-HR1/ GC 2
Total number and percentage of significant investment agreements and contracts that include human rights clauses or that underwent human rights screening

Managing investments
Objectives and measures
Responsible investment strategies
Our commitments
Corporate Responsibility in Business
PRI reporting
Only partial data available.

The major portion of our investments meet sustainable investment criteria that include human rights aspects. In the asset classes of infrastructure, renewable energies and forestry, we have established an investment process which follows additional important objectives relating to investment (incl. ESG criteria) as well as financial criteria. We regularly review our sustainability criteria for these asset classes using the ESG criteria of external rating agencies. Particularly in the areas of renewable energies, infrastructure and forestry,

Since 2013, our investment activities have taken into account an external ESG country rating for the sustainability performance of individual countries. In cases where countries fail to satisfy our criteria, MEAG refrains from investing in their government bonds or the bonds of government-sponsored organizations.

Human rights aspects are also part of our policy on banned weapons as well as of our position on agroinvestments.
No
G4-HR2/ GC 1
Total hours of employee training on human rights policies or procedures concerning aspects of human rights that are relevant to operations, including the percentage of employees trained
Compliance
Code of Conduct (CWS) (PDF, 354 KB)
Corporate Responsibility in Business
Integrating ESG aspects
Practical implementation
Sustainable Supply Chain Management
Only partial data available: Training programmes on the Code of Conduct for our employees as well as e-learning module on this topic. Furthermore there are specific ESG trainings in place for our underwriter, business analysts and client manager in order to helping them to systematically incorporate ESG aspects in their risk assessments. No
Non-discrimination
G4-HR3/ GC 6
Total number of incidents of discrimination and corrective actions taken
Compliance
Diversity
Code of Conduct (CWS)
Only partial data available.
Our CoC specifies that we expect our employees to observe the personal dignity, privacy and personality rights of every individual. We do not tolerate any discrimination, sexual harassment, other personal harassment, or insulting behaviour.
Munich Re has completed the enhancement of our internal control system. Furthermore internal guidelines and procedures to report on breaches are implemented. Additionally, there is the Group Compliance Committee (GCC), which deals with compliance and reputational issues and risks at Group level, with a view to standardizing the way they are handled throughout the Group.
The possibility of whistle blowing and reporting to an external ombudsman or confidential reporting through ethic hotlines and our electronic platform (BKMS) are provided.
No
Freedom of association and collective bargaining
 
G4-HR4/ GC 3
Operations and suppliers identified in which the right to exercise freedom of association and collective bargaining may be violated or at significant risk, and measures taken to support these rights
Compliance
Sustainable Supply Chain Management
Procurement Principles (PDF, 84 KB)
Corporate Responsibility in Business
Integrating ESG aspects
To our best knowledge, in the period under review, no business operations/suppliers were identified in which freedom of association and the right to collective bargaining were at risk. No
Child Labor
G4-HR5/GC 5
Operations and suppliers identified as having significant risk for incidents of child labor, and measures taken to contribute to the effective abolition of child labor
Compliance
Sustainable Supply Chain Management
Procurement Principles (PDF, 84 KB)
Corporate Responsibility in Business
Integrating ESG aspects
To our best knowledge, in the period under review, no business/supplier operations were identified in which there was a significant risk of child labour. No
Forced or Compulsory Labor
G4-HR6/ GC 4
Operations and suppliers identified as having significant risk for incidents of forced or compulsory labor
Compliance
Sustainable Supply Chain Management
Procurement Principles (PDF, 84 KB)
To our best knowledge, in the period under review, no business/supplier operations were identified in which there was a significant risk of forced or compulsory labour. No
Security Practices
G4-HR7/ GC 1
Percentage of security personnel trained in the organization's human rights policies
Compliance Munich Re’s Code of Conduct applies to 100% of its own security staff. For all external security personnel, the conditions of the new Purchasing Guidelines apply for reinsurance and require that all new supply and service contracts contain a Corporate responsibility clause based on the UN’s Global Compact. No
Indigenous Rights
G4-HR8/ GC 1
Total number of incidents of violations involving rights of indigenous peoples and actions taken
Compliance
Sustainable Supply Chain Management
Procurement Principles (PDF, 84 KB)
Corporate Responsibility in Business
Integrating ESG aspects
To our best knowledge, in the period under review, no business operations were identified in which the rights of indigenous peoples were violated. This aspect is of little relevance in Munich Re’s business. No
Assessment
G4-HR9/ GC 1
Total number and percentage of operations that have been subject to human rights reviews or impact assessments
Corporate Responsibility in Business
Integrating ESG aspects
Partially reported.
In 2013, we established ten generally applicable ESG criteria, which help to prioritise industrial sectors with high ESG exposure, thus allowing sensitive business topics to be identified. We approved position papers and guidelines on various sensitive topics: e.g.  Oil sands, Mining, Fracking, Artic Oil Drilling, Banned Weapons, Engineering/large infrastructure projects.
No
Supplier Human Rights Assessment
G4-HR10/ GC 2
Percentage of new suppliers that were screened using human rights criteria
Supply chain management
Procurement Principles (PDF, 84 KB)
100% No
G4-HR11/ GC 2
Significant actual and potential negative human rights impacts in the supply chain and actions taken
  None No
Human Rights Grievance Mechanisms
G4-HR12/ GC 1
Number of grievances about human rights impacts
Annual General Meeting/Countermotions   No

Society

GRI G4/UN Global Compact
Aspects and Indicators
Link/Page
CR-Portal
Corporate Website (CWS)
MR Annual Report 2014 (AR)
Additional Comment/
Reason for Omission
External Assurance
Local Communities
G4-DMA


 
Corporate governance
Anti-fraud management
Code of Conduct (CWS)
ERGO Corporate Governance
Solutions for developing countries and emerging markets
Microinsurance
This DMA applies to the aspects Local communities, Anti-corruption, Public Policy, Anti-competitive behavior, Compliance, Supplier Assessment for Impacts on Society, Grievance Mechanisms for Impacts on Society.  
G4-SO1/ GC 1
Percentage of operations with implemented local community engagement, impact assessments, and development programs
  This indicator has little relevance for Munich Re as a financial services provider: in contrast to other sectors of the economy, we have only a comparatively small impact on the local community with our office-based business operations.  
G4-SO2/ GC 1
Operations with significant actual and potential negative impacts on local communities
  This indicator has little relevance for Munich Re as a financial services provider: in contrast to other sectors of the economy, we have only a comparatively small impact on the local community with our office-based business operations.  
G4-FS13
Access points in low-populated or economically disadvantaged areas by type
Solutions for developing countries and emerging markets
Microinsurance
   
G4-FS14
Initiatives to improve access to financial services for disadvantaged people
Solutions for developing countries and emerging markets
Microinsurance
Munich Re Foundation
   
Anti-corruption
G4-SO3/ GC 10
Total number and percentage of operations assessed for risks related to corruption

 
Corporate governance
Anti-fraud management
Risk management
  No
G4-SO4/ GC 10
Communication and training on anti-corruption policies and procedures
Corporate governance
Anti-fraud management
  No
G4-SO5/ GC 10
Confirmed incidents of corruption and actions taken
Corporate governance
Anti-fraud management
Risk management
ERGO Corporate Governance
  No
Public Policy
G4-SO6/ GC 10
Total value of political contributions by country and recipient/beneficiary

 
Facts and figures/social commitment indicators   No
Anti-competitive Behavior
G4-SO7
Total number of legal actions for anti-competitive behavior, anti-trust, and monopoly practices and their outcomes

 
Code of Conduct (CWS) Data not reported No
Compliance
G4-SO8
Monetary and non-monetary sanctions for non-compliance with laws and regulations

 
Code of Conduct (CWS) Munich Re was not subject to any fines or sanctions in the reporting year No
Supplier Assessment for Impacts on Society
G4-SO9
Percentage of new suppliers that were screened using criteria for impacts on society


 
Supply chain management
Procurement Principles (PDF, 84 KB)
100% No
G4-SO10
Negative impacts on society in the supply chain and actions taken
  None No
Grievance Mechanisms for Impacts on Society
G4-SO11
Number of grievances about impacts on society
Annual General Meeting/Countermotions   No

Product Responsibility

GRI G4/UN Global Compact
Aspects and Indicators
Link/Page
CR-Portal
Corporate Website (CWS)
MR Annual Report 2014 (AR)
Additional Comment/
Reason for Omission
External Assurance
Customer Health and Safety
G4-DMA Code of Conduct (CWS)
Our guiding principles
Client and Client Relationships, p. 108 (AR)
This DMA applies to the aspects Product and Service Labeling, Marketing Communication, Customer Privacy and Compliance No
G4-PR1   not material  
G4-PR2   not material  
Customer Health and Safety
G4-DMA
(FSS): Policies for the fair design and sale of financial products and services (former FS15)
Initiatives to enhance financial literacy by type of beneficiary (former FS16)
Code of Conduct (CWS)
Commitment
In accordance with our codes of conduct, we are fair and open in our business relations. Munich Re endeavours to give clients the best possible advice and the information they need to take sound decisions.
 
Munich Re’s product and service range – from development and marketing to conclusion of the business – is subject to strict quality controls. Hence no significant product or service categories are covered by and assessed for compliance with such procedures.

To further clarify insurance terms and conditions, especially our primary insurance group ERGO has significantly improved the transparency of all documents. Customers receive all the information they need on the conditions of liability relating to their insurance protection in a clear and transparent format.
No
G4-PR3
Type of product and service information required by the organization's procedures for product and service information and labeling, and percentage of significant product and service categories subject to such information requirements
  Munich Re’s product and service range – from development and marketing to conclusion of the business – is subject to strict quality controls. Hence no significant product or service categories are covered by and assessed for compliance with such procedures.

To further clarify insurance terms and conditions, especially our primary insurance group ERGO has significantly improved the transparency of all documents. Customers receive all the information they need on the conditions of liability relating to their insurance protection in a clear and transparent format.
No
G4-PR4
Total number of incidents of non-compliance with regulations and voluntary codes concerning product and service information and labeling, by type of outcomes
  Not applicable
For us, adherence to high ethical and legal standards is a matter of principle and is regulated by our Code of Conduct.
No
G4-PR5
Results of surveys measuring customer satisfaction
Stakeholder dialogue
Client and client relationships, p. 108 (AR)
  No
Marketing Communications
G4-PR6
Sale of banned or disputed products
Compliance
Code of Conduct (CWS)
ERGO  Code of Conduct (CWS)
Practical Implementation
Interview Dr. Astrid Zwick and Stephan Laemmle
   
G4-PR7
Total number of incidents of non-compliance with regulations and voluntary codes concerning marketing communications
  For us, adherence to high ethical and legal standards is a matter of principle and is regulated by our Code of Conduct. To our best knowledge, no cases of non-compliance occurred during 2014. No
Customer Privacy
G4-PR8
Total number of substantiated complaints regarding breaches of customer privacy and losses of customer data
  For us, adherence to high ethical and legal standards is a matter of principle and is regulated in our Code of Conduct and our safety regulations. To our best knowledge, Munich Re has not received any information about material breaches of privacy rules. No
Compliance
G4-PR9
Monetary value of significant fines for non-compliance with laws and regulations concerning the provision and use of products and services
  For us, adherence to high ethical and legal standards is a matter of principle. To our best knowledge, no cases of non-compliance occurred, and no fines were paid during 2014. No

Financial Sector Supplement Aspects: Product Portfolio

GRI G4/UN Global Compact
Aspects and Indicators
Link/Page
CR-Portal
Corporate Website (CWS)
MR Annual Report 2014 (AR)
Additional Comment/
Reason for Omission
External Assurance
Product Portfolio
G4-DMA (former FS1-FS5)
Policies with specific environmental and social components applied to business lines
Procedures for assessing and screening environmental and social risks in business lines
Processes for monitoring clients’ implementation of and compliance with environmental and social requirements included in agreements or transactions
Process for improving staff competency to implement the environmental and social policies and procedures as applied to business lines
Interactions with clients regarding environmental and social risks and opportunities
Organization–wide goals regarding performance including plans to improve implementation of policies/ procedures
Corporate responsibility in business
Integrating ESG aspects
Practical implementation
Managing investments
Infrastructure investments
Insurance concepts for renewable energies
Ecological insurance solutions
Solutions for developing countries and emergings markets
Microinsurance
NATHAN-Geointelligent solutions
SystemAgro
Climate change
Further specialised units/panels for early ESG risk detection include:
Reputational Risk Committee (Group annual report 2014, page 125)
Emerging Risks Think Tank (Group annual report 2014, page 136).
Internal control system (ICS), a uniform worldwide system for managing operational risks integrated across all risk dimensions and areas of the Group that both meets Group management needs and satisfies local legal and regulatory requirements. (Group annual report 2014, pages 120 f.)
In 2007, Munich Re established the Corporate Climate Centre (CCC), forming the link between geoscientific research and operative underwriting.
No
G4-FS6
Percentage of the portfolio for business lines by specific region, size (e.g. micro, SME, large) and by sector
Consolidated financial statements and notes, pp. 198-201 (AR)   No
G4-FS7
Monetary value of products and services designed to deliver a specific social benefit for each business line broken down by purpose
Objectives and measures
Managing investments
PRI
Responsible Investment Strategies
Only partial data available.
Our General Investment Guidelines stipulate that the vast majority of our own investments in shares and bonds should satisfy sustainability criteria. These SRI criteria include human rights issues.

Our asset management arm, MEAG, offers different sustainable investment funds: MEAG Nachhaltigkeit and MEAG FairReturn.
No
G4-FS8
Monetary value of products and services designed to deliver a specific environmental benefit
Environmental management
Operational ecology

Risk Report, pp. 117ff.
Auditor’s Report, p. 302
Report of the Supervisory Board, p. 23 (Audit Committee)
Only partial data available.
Our General Investment Guidelines stipulate that the vast majority of our own investments in shares and bonds should satisfy sustainability criteria.
No
Audit
G4-DMA/ former FS9
Coverage and frequency of audits to assess implementation of environmental and social policies and risk assessment procedures and organisation-wide goals regarding this Aspect
Environmental management
Operational ecology

Risk Report, pp. 117ff.
Auditor’s Report, p. 302
Report of the Supervisory Board, p. 23 (Audit Committee)
  No
Active Ownership
G4-DMA/ former FS12
Voting policy(ies) applied to environmental or social issues for shares over which the reporting organisation holds the right to vote shares or advices on voting.
Organisation-wide goals regarding performance relevant to this Aspect, including any relevant audit results.

MEAG analyses whether corresponding shareholder resolutions are in line with long-term ESG considerations and MEAG’s corporate objectives, its voting being determined on that basis.

Shareholdings in other joint-stock companies make up a relatively low percentage of Munich Re's investments at the present time. We exercise our right to vote primarily at the annual general meetings of German companies, since exercising such rights outside Germany entails substantial costs.
 
G4-FS10
Percentage and number of companies held in the institution’s portfolio with which the reporting organisation has interacted on environmental or social issues.
  MEAG also holds in-depth talks with individual companies aimed at improving their SRI performance.
It is difficult to put a precise figure on the number of companies with which we interact on social or ecological issues. In the course of our business relationships, our asset management has dealings with the managements of several hundred companies, these contacts also being used to address environmental issues in the context of our comprehensive risk analyses. Munich Re’s commitment to the Principles for Responsible Investment reinforces the relevance of such issues to our relationships with our partners. Although engagement cannot be tracked at a global level, MEAG does engage with companies in its investment portfolio, particularly those included in its socially responsible investment funds.
 
G4-FS11
Percentage of assets subject to positive and negative environmental or social screening
Managing investments
PRI
Responsible investment strategies
   

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