Corporate Responsibility Governance
Good corporate governance creates trust
Code of Conduct: Commitment to compliant conduct
Responsible corporate governance is only possible on the basis of impeccable ethical and legal conduct. We therefore combat any kind of corruption, respect human rights, and ensure that our strict compliance standards are met along the entire value chain. To ensure compliant conduct, we have created Group-wide guidelines and minimum compliance requirements. Their implementation is checked and ensured with the help of appropriate information and documentation systems.
Compliance ensures integrity in all actions
Compliance with applicable laws and internal rules and principles is binding for all Munich Re Group staff (zero-tolerance limit). To ensure compliant and standardized conduct, we have created Group-wide guidelines, minimum compliance requirements and suitable information and documentation systems as measures for prevention and monitoring. We have assigned responsibility for this to the Group Compliance and Legal unit. Munich Re has established a Group-wide Compliance Management System (CMS), which is a methodical framework for the structured implementation of early warning, risk control, consulting and supervision functions. The CMS comprises seven elements: Culture, risk management, organization and processes, consulting, communication and training, reporting, monitoring and control, as well as documentation.
Meeting data-protection and information security requirements
Munich Re has to manage an ever-increasing amount of information and data. It is essential for us to protect the personal data of our staff members and clients, guard our business and sales partners’ corporate information, and our own trade secrets, if we are to be treated as a competent and trusted partner. For this reason, Munich Re has implemented data-protection management systems in each of its fields of business. Each system takes into account the particularities of the respective field, and includes rules, processes and measures to systematically monitor and control how personal data is handled. The goal is to ensure a high standard of data protection across the Group, and to avoid fines. Audited data-protection controls are conducted on a regular basis.
Respecting human rights at all times in all places
At Munich Re Group, our business model is tied to responsible, sustainable and forward-looking action over the long-term. We regard the protection of human rights as a particular obligation and strive to do so in line with internationally accepted human rights principles.