Our guiding principles

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Turning risk into sustainable value

A guiding principle for Munich Re is acting in a far-sighted and responsible manner in the interests of both the Group and society. Corporate responsibility is therefore an essential component of our Group strategy and a standard that applies in all divisions throughout the Group: we create shared value!

Mission: What we stand for

As a primary insurer and reinsurer, the professional management of risks is part of our day-to-day business. Both our clients – and society in general – benefit from our broad knowledge of risks, our experience on all global markets, and the use of the latest insurance techniques to calculate hazards. We apply our expertise and practical solutions to avoid hazards and alleviate human hardship in the long term. In this way, we generate social and economic added value.

Vision: What we aim to achieve

We operate in an extremely dynamic global environment, in which not only natural catastrophes, but also, with an increasing frequency, complex new risks can lead to high losses. Many of these risks are not yet insurable. They affect people in their daily lives, but also hit entire economies with full force – often in emerging and developing countries that have a low level of resilience. We therefore believe we have a responsibility to be the first to identify previously unknown risks and calculate their extent in detail. From this we develop insurance solutions that push the boundaries of insurability, thereby creating long-term value for everyone, for example to safeguard vulnerable economies and strengthen the global economy.

With purposeful measures and tailored solutions, we wish to promote the use of sustainable technologies and services to the best of our ability, and also allow new client groups access to insurance protection for the first time.

Strategy: We set the following priorities

Acting in a far-sighted and responsible manner as part of a shared value approach is at the heart of our Group-wide Corporate Responsibility strategy, which is an integral part of Munich Re (Group) strategy.

Our refined corporate responsibility strategy focuses on three central challenges that are of particular significance for our Group, clients and society. These challenges are also set out in the UN objectives for sustainable development:

  1. Combat the effects of climate change,
  2. Improve access to healthcare,
  3. Enhance the risk awareness of all stakeholders.

Implementation: How we go about this

Munich Re has defined three new fields of action that will align our credentials even more effectively and precisely to the needs of our stakeholders:

  • Promote sustainable business opportunities: We use corporate responsibility to promote and implement business opportunities using innovative ideas and new types of approach.
  • Share risk knowledge: By engaging in a process of dialogue with external partners, we wish to create value, not only with financial resources, but also with our knowledge and entrepreneurial approach. We are therefore increasingly engaging in cooperations where we can apply our expertise and knowledge risks to find solutions to social challenges.
  • Strengthen stakeholder dialogue: We communicate interactively with our stakeholders to allow us to understand our target groups better and become part of the solution.

Munich Re will in future continue to stand by its commitment to recognise and abide by voluntary standards such as the United Nations Global Compact and its ten principles, the Principles for Responsible Investment and the Principles for Sustainable Insurance. These are the cornerstones of our corporate responsibility activities. But the work is by no means confined to just these measures: We are progressively extending both our ambitions and our performance in terms of our corporate responsibility. Our new shared value approach, which helps us find better answers to the challenges that arise, is the next stage of revolution in this regard.

GRI Content Index: G4-23; G4-56; G4 DMA Indirect Economic Impacts; G4 DMA Category Environmenal; G4 DMA Customer Health and Safety

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