Statement by the CEO

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Ladies and Gentlemen,

For us, acting responsibly means creating value for the Group and for society at large. This position is reflected in our corporate responsibility strategy, which is based on the shared-value approach. Our goal is to apply our knowledge as well and as consistently as possible in this regard.

Indeed, we have been studying natural disasters and climate change for over 40 years now. Our extensive knowledge of geophysical-, weather- and climate risks enables us to develop standardised and tailor-made risk-transfer solutions for our clients. Insuring against weather risks and crop failure is one example of how we play a role in mitigating the effects of climate change. Moreover, we actively contribute to climate protection by developing innovative insurance for new, post-carbon technologies.

Our initiative “Tackling climate change together”, launched by Munich Re and ERGO in October 2017, is a perfect match to this approach: it promotes new, climate-friendly ideas from the start-up sector through the EU’s Climate-KIC accelerator programme. Here, young entrepreneurs are provided not only with financial support, but also with personal mentors from among our experts at Munich Re and ERGO. The initiative’s second component is our funding of Solarkiosk, a company that provides people living in the remote regions of Africa with solar electricity generated by “E-HUBBs”. The first of these have already begun operating in Kenya.

We also live up to our corporate responsibility in our core business as worldwide reinsurers and primary insurers, systematically integrating sustainability – i.e. environmental, social and governance criteria – when creating value. Furthermore, we have adopted a Group-wide Code of Conduct for responsible and sustainable decision-making in line with the ten principles of the United Nations Global Compact (UNGC).

In addition to the UNGC, we are also committed to the Principles for Responsible Investment and the Principles for Sustainable Insurance, thus going beyond regulatory requirements. Part of our overall strategy includes the consistent implementation of our environmental and climate-change policies, as well as our goal of carbon neutrality, which we have already met.

We at Munich Re take on responsibility, both as a Group overall and through each individual employee in their respective field of competence. I invite you to visit our Corporate Responsibility portal for concrete examples and a description of the projects we supported this past year.

I wish you an interesting and informative read.

Best regards,

Joachim Wenning


GRI: G4-1

Nikolaus von Bomhard - Munich Re

Dr. Joachim Wenning
Chairman of the Board of Management
Munich Re

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