Stakeholder dialogue and materiality analysis

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Munich Re has always valued an open and ongoing dialogue with its stakeholders. This allows us to identify at an early stage topics and emerging challenges of relevance to Munich Re – both now and in the future – from the perspective of our stakeholders.

The many and varied expectations of our stakeholders provide Munich Re with valuable input. We analyse these accumulated insights on a regular basis and make allowance for them in our strategic topic planning. Our aim is to be able to recognise global changes in the economy and society as well as newly emerging trends as quickly as possible, and meet future challenges at an early stage by providing innovative solutions and risk covers. For this reason, we specifically focus on continuous dialogue with our stakeholders to create added value for everyone involved.

Staff Shareholders, analysts and investors Politics, NGOs, interest groups Society and science Clients

Open and transparent dialogue
Munich Re meets the needs of its stakeholders with openness and transparency. The overview shows the stakeholder groups with which Munich Re engages in dialogue. Click on a group to learn more about our stakeholders' requirements.

Clients

Munich Re's reinsurance, primary insurance and asset management client bases have different structures and characteristics. Our central objective across all fields of business is to be a reliable, solution-oriented partner for our clients. Neutral third parties and specialised market research institutes, such as Flaspöhler for reinsurance, regularly conduct a review of client opinions and comments on our Group. Our client managers also engage in regular exchange with clients on potential needs, trends and challenges. The results are taken into account in our strategic planning. One crucial and contemporary component is client communication on social media. Munich Re uses Twitter, Facebook, Google+, LinkedIn, XING and YouTube to provide information and invite contacts to exchange information and partake in discussions in forums and special network groups.

Staff

Our employees are our most valuable asset. That is why we engage in continuous exchange with them worldwide and on every level. Regular feedback and open dialogue are the norm across the Group. Alongside a wide range of discussion forums and cross-divisional symposiums, the extensive intranet services at business-field, regional and local levels provide staff with a rich supply of information, supporting employee communication about content. Appropriate and effective topic-related networking among staff is essential to ensure efficient work processes.

Shareholders, analysts and investors

Munich Re cultivates an ongoing, intensive dialogue with private and institutional investors, analysts and rating agencies. In addition to holding regular events for investors and analysts, we frequently impart important, detailed information about general risks and opportunities relating to our business operations, and in particular about sustainable investment opportunities, our sustainability initiatives and upcoming trends. This is done through personal meetings, specialist interviews, at (SRI) roadshows, in webinars, Skype calls and via the internet.

Politics, NGOs, interest groups

Through the departments responsible (Sustainability, Group Legal, Corporate Climate Centre and others) we are in constant contact with a large number of interest groups, NGOs, UN institutions, public administration bodies and the scientific community at national and international level.

Working with a wide range of different political institutions and national governments, Munich Re provides advice on current topics relating to climate change and contributes its expertise. Munich Re is an active member of many insurance industry initiatives and associations. Voluntary commitments

Society and science

Our experts are engaged in ongoing dialogue with scientists, associations and organisations around the world and are involved in a large number of national and international research and development projects such as the Global Earthquake Model (GEM), GeoHazards International (GHI), the Global Climate Forum (GCF) and the Munich Climate Insurance Initiative (MCII). In addition to providing financial resources, Munich Re makes available its comprehensive risk and insurance expertise to the selected experts.

Materiality analysis – Identifying relevant topics for society and for our Group

Our aim is to continually improve our Group-wide corporate responsibility processes and activities. The varying expectations and expert knowledge of our stakeholder groups constitute an important source of information for us. We explore both of these areas in an ongoing dialogue with our stakeholders and with our internal and external Corporate Responsibility network, after which we assess the feedback we receive. Every year, we exchange information with a large number of internal (approx. 50) and external (approx. 100) partners. In addition, we regularly assess external publications on global trends, challenges and opportunities (such as the UN Sustainable Development Goals and the World Economic Risk Report). Along with the internal analyses by our experts in the areas of strategy, economic research and risk management, the findings from this assessment are added to our topic collection.

Our expert analyses, dialogue with stakeholders and collaboration with international initiatives allow us to identify topic areas that could be of material importance to us. We then discuss these with selected internal experts. We are supported in assessing and setting priorities by strategy experts from each field of business, client managers from underwriting, members of the Board of Management, and specialists from our risk management functions and cross-business-field committees.

In the final step of validation, we again contact selected stakeholders (approx. 40) to rate topics identified as material in the overall process in a quantitative survey. Following an interactive process with all stakeholders, the final outcome is a strategic portfolio of relevant sustainability topics. On this basis, we decide what will be the areas of focus for our corporate responsibility strategy for the next few years. Because our stakeholders’ assessments are of great importance to us, we are currently analysing how the process can be improved and potentially expanded in future.

The following diagram presents in summarised form the topics that are material for us:

You can find additional information on our current strategic topics on the following pages:


Strategic topic climate change


Strategic topic health care


Strategic topic risk awareness



GRI Content Index: G4-18; G4-19; G4-20; G4-21; G4-23; G4-24; G4-25; G4-26; G4-27; G4-PR5; G4 DMA Product Portfolio


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