GRI reporting and Global Compact Communication on Progress

Normal view (turn off text only mode)
You are here:

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).

Disclaimer

“Please be aware that some indicators of our GRI G4 reporting are still in the internal approval process. The fully updated version will be available by 15th of July.”

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 by the CEO   No
G4-2 Strategy and challenges
Solutions
Materiality analysis
Objectives and measures
Milestones
  No
Organisational profile
G4-3 Imprint/Service: Back cover p. 317 (AR) (PDF, 12 MB) Münchener Rückversicherungs-Gesellschaft No
G4-4 Munich Re portrait (CWS)
Our brands: back cover p. 319 (AR) (PDF, 12 MB)
Management report, Group structure: pp. 33-38 (AR) (PDF, 12 MB)
  Reasonable assurance (PDF, 12 MB)
G4-5 Imprint Munich, Germany No
G4-6 Munich Re worldwide (CWS)
ERGO International (CWS)
Munich Health worldwide (CWS)
MEAG locations (MEAG)  
Munich Re’s global presence: cover pp. 4-5 (AR) (PDF, 12 MB)
Group structure: pp. 33-38 (AR) (PDF, 12 MB)
Stakeholders – Clients and client relationships: pp. 108-110 (AR) (PDF, 12 MB)
  Reasonable assurance (PDF, 12 MB)
G4-7 Shareholder profile (CWS)
Munich Re shares: pp. 12-15 (AR) (PDF, 12 MB)
Other information – Parent: pp. 282 (AR) (PDF, 12 MB)
  Reasonable assurance (PDF, 12 MB)
G4-8 Munich Re Portrait (CWS)
Group structure: pp. 33-38 (AR) (PDF, 12 MB)
Munich Re’s global presence: cover pp. 4-5 (AR) (PDF, 12 MB)
Our brands: back cover p. 319 (AR) (PDF, 12 MB)
Stakeholders – Clients and client relationships: pp. 108-110 (AR) (PDF, 12 MB)
  Reasonable assurance (PDF, 12 MB)
G4-9 Business performance: pp. 72-99 (AR) (PDF, 12 MB)
Financial position: pp. 100 ff. (AR) (PDF, 12 MB)
Stakeholders - Staff: p. 113 (AR) (PDF, 12 MB)
Number of staff: p. 287 (AR) (PDF, 12 MB)
  Reasonable assurance (PDF, 12 MB)
G4-10 / GC 6 Munich Re as an employer
Work-life balance
Employee indicators
Group/Employees (CWS)
Staff: pp. 111-114 (AR) (PDF, 12 MB)
Partially reported – some data not available Reasonable assurance (PDF, 12 MB)
G4-11 / GC 3   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 management Partially reported – some data not available No
G4-13 Notable events: pp. 8-9 (AR) (PDF, 12 MB)
Group structure: pp. 33-38 (AR) (PDF, 12 MB)
  Reasonable assurance (PDF, 12 MB)
Commitments to external initiatives
G4-14 Risk management
Risk management (CWS)
Risk report: pp.117 ff. (AR) (PDF, 12 MB)
  Reasonable assurance (PDF, 12 MB)
G4-15 Our commitments
Memberships and partnerships
  No
G4-16 Memberships and partnerships   No
Identified Material Aspects and Boundaries
G4-17 List of shareholdings: pp. 292-301 (AR) (PDF, 12 MB)
Group structure: pp. 33-38 (AR) (PDF, 12 MB)
  Reasonable assurance (PDF, 12 MB)
G4-18 Stakeholder dialogue
Materiality analysis
  No
G4-19 Materiality analysis 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 About CR portal
Facts and figures
Materiality analysis
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 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 Facts and figures 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 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 Stakeholder dialogue
Memberships and partnerships
Stakeholders: pp. 108-116 (AR) (PDF, 12 MB)
  Reasonable assurance (PDF, 12 MB)
G4-25 Stakeholder dialogue
Memberships and partnerships
  No
G4-26 Stakeholder dialogue
Materiality analysis
Memberships and partnerships
  No
G4-27 Stakeholder dialogue
Climate change
Lobbying
Compliance
Partially reported – some data not available  
Report Profile
G4-28 About CR Portal   No
G4-29 Downloads June 2014 No
G4-30 About CR Portal annual No
G4-31 Contact Dr. Philipp Hasenmueller
Georg Schwarz
responsibility@munichre.com
No
Report profile: GRI content index
G4-32 Reporting/GRI   No
G4-33   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 Risk management
Articles of Association (CWS)
Organisational positioning
Corporate governance report and corporate governance statement: pp. 26-29 (AR) (PDF, 12 MB)
Group Corporate Responsibility Committee Reasonable assurance (PDF, 12 MB)
G4-35 Organisational positioning
Integrating ESG aspects
Practical implementation
Corporate governance report and corporate governance statement: pp. 26-29 (AR) (PDF, 12 MB)
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 Organisational positioning
Integrating ESG aspects
Practical implementation
  No
G4-37 Stakeholder dialogue
Integrating ESG aspects
Mission statement (CWS)
Annual general meeting (CWS)
Stakeholders: pp. 108ff. (AR) (PDF, 12 MB)
  Reasonable assurance (PDF, 12 MB)
G4-38 Supervisory Board (and subsequent pages) (CWS )
Corporate governance report and corporate governance statement: pp. 26-29 (AR) (PDF, 12 MB)
Management report: p. 43-48 (AR) (PDF, 12 MB)
Report of the Supervisory Board: pp. 21-25 (AR) (PDF, 12 MB)
  No
G4-39 Corporate governance report and corporate governance statement: pp. 26-29 (AR) (PDF, 12 MB)   No
G4-40 Corporate governance report and corporate governance statement: p 28 (AR) (PDF, 12 MB)   No
G4-41 Corporate governance
Code of Conduct (Section 4) (CWS)
Report of the Supervisory Board: p. 24 (AR) (PDF, 12 MB)
Corporate governance report and corporate governance statement: p 28 (AR) (PDF, 12 MB)
  No
G4-42. Organisational positioning
  No
G4-43 Corporate governance
Integrating ESG aspects
Practical implementation
  No
G4-44 Report of the Supervisory Board: pp.21 ff (AR) (PDF, 12 MB)   No
G4-45 Strategy & challenges
Corporate governance
Organisational positioning
Report of the Supervisory Board: pp.21 ff (AR) (PDF, 12 MB)
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 Risk Report: p. 117 f., particularly Control and monitoring systems: p. 120 (AR) (PDF, 12 MB)
Report of the Supervisory Board: p. 23 (AR) (PDF, 12 MB)
  Reasonable assurance (PDF, 12 MB)
G4-47 Report of the Supervisory Board: pp. 21ff. (AR) (PDF, 12 MB)   No
G4-48 Organisational positioning Head of Group Development – Management Level 1 No
G4-49 Investor Relations/Mission statement
Corporate Governance/Annual General Meeting
  No
G4-50   Not reported No
G4-51 Remuneration report (CWS)
Remuneration report: pp. 49 ff. (AR) (PDF, 12 MB)
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 Remuneration report (CWS)
Remuneration report: pp. 49 ff. (AR) (PDF, 12 MB)
  Reasonable assurance (PDF, 12 MB)
G4-53   Not reported  
G4-54   Not reported – data not available  
G4-55   Not reported – data not available  
Ethics and Integrity
G4-56/ GC 10 Our commitments
Guiding principles
Compliance  
Code of Conduct:  (ERGO , Group) (CWS)
  No
G4-57/ GC 10 Anti-fraud Management
Compliance  
Code of Conduct:  (ERGO , Group) (CWS)
  No
G4-58/ GC 10 Compliance  
Anti-fraud Management
Lobbying
  No

Specific 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
Economic
Economic Performance
G4-DMA Our Strategy: pp. 16-18 (AR) (PDF, 12 MB)
Strategy  (CWS)
  No
G4-EC1
FS-EC1
Financial indicators
Key figures (IFRS): cover p. 2 (AR) (PDF, 12 MB)
Business performance: pp. 72 ff. (AR) (PDF, 12 MB)
Notes to the consolidated balance sheet – Equity and liabilities, p. 231 (AR) (PDF, 12 MB)
Personnel expenses: p.282 (AR) (PDF, 12 MB)

FS-EC1:
Commitment
Social commitment indicators
  Reasonable assurance (PDF, 12 MB)
G4-EC2 / GC 7 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) (PDF, 12 MB)
Opportunities report: pp. 142 f. (AR) (PDF, 12 MB)
  Reasonable assurance (PDF, 12 MB)
G4-EC3 Other accrued liabilities: pp. 192 f. (AR) (PDF, 12 MB)
Other accrued liabilities: pp. 246 ff. (AR) (PDF, 12 MB)
  Reasonable assurance (PDF, 12 MB)
G4-EC4   None No
Market Presence
G4-DMA Remuneration
Training and personal development
  No
G4-EC5/ GC 6 Personnel expenses: p. 282 (AR) (PDF, 12 MB) 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 Training and personal development (PDF, 12 MB)
Staff: pp. 111ff. (AR) (PDF, 12 MB)
  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 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 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 Supply chain management
Compliance
Only partial data available No
Environmental
G4-DMA Environmental management
Operational ecology
Climate protection
Environmental indicators
More detailed environmental indicators (XLSX, 35 KB)
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 Environmental indicators
More detailed environmental indicators (XLSX, 35 KB)
  No
G4-EN2/ GC 8 Environmental indicators
More detailed environmental indicators (XLSX, 35 KB)
  No
Energy
G4-EN3/ GC 7,8 Environmental indicators
More detailed environmental indicators (XLSX, 35 KB)
Climate protection
Operational ecology
  No
G4-EN4/ GC 8   not reported  
G4-EN5/ GC 8 More detailed environmental indicators (XLSX, 35 KB)   No
G4-EN6/ GC 8,9 More detailed environmental indicators (XLSX, 35 KB)
Climate protection
Operational ecology
  No
G4-EN7/ GC 8,9 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 Operational ecology
More detailed environmental indicators (XLSX, 35 KB)
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   None No
G4-EN10/ GC 8   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 More detailed environmental indicators (XLSX, 35 KB)   No
G4-EN16 / GC 7,8 More detailed environmental indicators (XLSX, 35 KB)   No
G4-EN17/ GC 7,8 More detailed environmental indicators (XLSX, 35 KB)   No
G4- EN18/ GC 8 More detailed environmental indicators (XLSX, 35 KB)   No
G4-EN19/ GC 8,9 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 More detailed environmental indicators (XLSX, 35 KB)   No
G4-EN24/ GC 8   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   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 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   None No
Transport
G4-EN30/ GC 8 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 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 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 (PDF, 12 MB)
Training and personal development (PDF, 12 MB)
Staff: pp. 111-113 (AR) (PDF, 12 MB)
  Reasonable assurance (PDF, 12 MB)
Employment
G4-LA1/ GC 6 Employee indicators Only selected data available (Employee turnover rate) No
G4-LA2 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 Work-life balance   No
Management Relations
G4-DMA Munich Re as an employer (PDF, 12 MB)
Staff: pp. 111-113 (AR) (PDF, 12 MB)
Only selected data available (Employee turnover rate) No
G4-LA2   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 (PDF, 12 MB)
Health at the workplace (PDF, 12 MB)
Staff: pp. 111-113 (AR) (PDF, 12 MB)
  Reasonable assurance (PDF, 12 MB)
G4-LA5 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 Health at the workplace
Employee indicators
Only partial data available, to some extent due to confidentiality. No
G4-LA7 Health at the workplace “Preventing and dealing with stress in general is becoming increasingly important within our health management.” […] No
G4-LA8   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) (PDF, 12 MB)
  No
G4-LA9 / GC 6 Training and personal development
Employee indicators
   
G4-LA10 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 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) (PDF, 12 MB)
  No
G4-LA12/ GC 6 Munich Re as an employer
Diversity
Employee indicators

Corporate Governance/Supervisory Board (CWS)
Curriculum vitae Supervisory Board (CWS)
Staff: pp. 111-113 (AR) (PDF, 12 MB)
  No
Equal Remuneration for Women and Men
G4-DMA Remuneration
Diversity
Code of Conduct (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
G4-LA13/ GC 6 Remuneration
Diversity

Code of Conduct (CWS)
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
  No
G4-LA14 Supply chain management 100% No
G4-LA15 Supply chain management None No
Labor Practices Grievance Mechanisms
G4-LA16   Not material No
Sub-category: Human Rights
 
Investment
G4-DMA   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, Supplier Human Rights Assessment.
Observance of human rights is axiomatic for Munich Re. This commitment is manifested for example in Munich Re’s participation in the United Nations’ Global Compact initiative (since 2007) and the UNEP FI Principles for Sustainable Insurance (PSI) Initiative as well as the Principles on Responsible Investments (PRI).

In August 2007, Munich Re joined the Global Compact of the United Nations, the first six principles of which explicitly address human and labour rights. Our membership of the UN Global Compact is indicative of our commitment to human rights.

Munich Re (Group) treats the topic of human rights from four perspectives:
1) How we deal with our own employees
2) Supplier management
3) Our core businesses of insurance and reinsurance
4) Munich Re (Group) investments.

Munich Re is an active member of the UN Global Compact and a member of its Peer Learning Group on Human Rights. Our goal is to discuss current national and international developments and best practices, and to learn from others.

Our Code of Conduct specifies that we expect our employees to observe the personal dignity, privacy and personality rights of every individual. We do not tolerate any discrimination (on grounds of age, sex, ethnic origin, nationality, political opinion, race, religion or the like), sexual harassment, other personal harassment, or insulting behaviour. Neither do we tolerate any intimidation or violence, or the threat thereof. This is underlined by a new reference to the UN Global Compact within our Code of Conduct.
No
G4-HR1/ GC 2 Managing investments
Objectives and measures
Responsible investment strategies
Our commitments
Based on the PRI, our General Investment Guidelines stipulate that the vast majority of our own investments in shares, bonds, real estate (from 2010) and investments in the RENT project should satisfy sustainability criteria that include human rights aspects.
Financial sector
Policies with specific environmental and social components applied to business lines (former FS1), Procedures for assessing and screening environmental and social risks in business lines (former FS2), and Processes for monitoring clients’ implementation of and compliance with environmental and social requirements included in agreements or transactions (former FS3).
No
G4-HR2/ GC 1 Compliance
Code of Conduct (CWS)
Only partial data available: Training programmes on the Code of Conduct for our employees as well as e-learning module on this topic. No
Non-discrimination
G4-HR3/ GC 6 Compliance
Diversity
Code of Conduct (CWS)
Only partial data available No
Freedom of association and collective bargaining
 
G4-HR4/ GC 3 Compliance In the period under review, no business operations were identified in which freedom of association and the right to collective bargaining were at risk. No
Child Labor
G4-HR5/GC 5 Compliance This aspect is of little relevance in Munich Re’s business, as key units of the Group operate in countries where child labour is prohibited by law. In the period under review, no business operations were identified in which there was a significant risk of child labour. No
Forced or Compulsory Labor
G4-HR6/ GC 4 Compliance This aspect is of little relevance in Munich Re’s business, as key units of the Group operate in countries where such labour is prohibited by law. In the period under review, no business operations were identified in which there was a significant risk of forced or compulsory labour. No
Security Practices
G4-HR7/ GC 1 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 Compliance 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   Not reported No
Supplier Human Rights Assessment
G4-HR10/ GC 2 Supply chain management
Procurement Principles
100% No
G4-HR10/ GC 2   None No
Human Rights Grievance Mechanisms
G4-HR12/ GC 1 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   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   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 Solutions for developing countries and emerging markets
Microinsurance
   
G4-FS14 Solutions for developing countries and emerging markets
Microinsurance
Munich Re Foundation
   
Anti-corruption
G4-SO3/ GC 10

 
Corporate governance
Anti-fraud management
Risk management
  No
G4-SO4/ GC 10 Corporate governance
Anti-fraud management
  No
G4-SO5/ GC 10 Corporate governance
Anti-fraud management
Risk management
ERGO Corporate Governance
  No
Public Policy
G4-SO6/ GC 10

 
Facts and figures/social commitment indicators   No
Anti-competitive Behavior
G4-SO7

 
Code of Conduct (CWS) Data not reported No
Compliance
G4-SO

 
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


 
Supply chain management
Procurement Principles
100% No
G4-SO10   None No
Grievance Mechanisms for Impacts on Society
G4-SO11 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) (PDF, 12 MB)
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) (former FS15,16)
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   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   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 Stakeholder dialogue
Client and client relationships, p. 108 (AR) (PDF, 12 MB)
  No
Marketing Communications
G4-PR6 Compliance

Code of Conduct (CWS)
ERGO  Code of Conduct (CWS)
   
G4-PR7   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   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   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)
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 Consolidated financial statements and notes, pp. 198-201 (AR) (PDF, 12 MB)   No
G4-FS7 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 Environmental management
Operational ecology

Risk Report, pp. 117ff. (PDF, 111 KB)
Auditor’s Report, p. 302 (PDF, 32 KB)
Report of the Supervisory Board, p. 23 (Audit Committee) (PDF, 81 KB)
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)
Environmental management
Operational ecology

Risk Report, pp. 117ff. (PDF, 111 KB)
Auditor’s Report, p. 302 (PDF, 32 KB)
Report of the Supervisory Board, p. 23 (Audit Committee) (PDF, 81 KB)
  No
Active Ownership
G4-DMA
(former FS12)

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   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 Managing investments
PRI
Responsible investment strategies
   

Main Navigation
Service Men
Accessibility

Note


This publication is available exclusively to Munich Re clients. Please contact your Client Manager.