Transparent lobbying activities
In the interests of our stakeholders, we contribute our knowledge and expertise to the political decision-making process. In doing so, we place our main emphasis on fairness and transparency.
Unlike the laws of nature, making regulations is a job for people, and is subject to a variety of values and perspectives. In order to formulate new legislative texts, the government constantly draws on the knowledge, experience and assessments of those affected to allow it to reach balanced and appropriate decisions. This may take the form of hearings and consultations, as well as individual discussions.
In the interests of our clients, employees and shareholders, we actively participate in the political decision-making process. We focus on topic areas that affect our Group and our stakeholders, and in which we possess a high level of expertise. With many Munich Re concerns, the corporate interest matches the general societal interest, for example in the areas of climate protection and data security, or with investments in infrastructure. In 2021, our main focus was on the following topics:
Traditional insurance and reinsurance activities are not systemically important. Munich Re was not classed as a global systemically important insurer (G-SII). We nevertheless followed the discussions on further developing the method towards an activity-based approach and responded to relevant consultations. We continue to participate in data collection by regulatory authorities to assess systemic risks.
Our Public Affairs department is responsible for the Munich Re Group’s lobbying of governments, national and supranational authorities, associations and other organisations. We are also active in industry organisations, including the German Insurance Association (GDV), the Geneva Association, the European Insurance Chief Financial Officers’ (CFO) Forum, the Chief Risk Officers’ (CRO) Forum, the Reinsurance Advisory Board (RAB) of Insurance Europe, as well as the Pan-European Insurance Forum (PEIF).
Munich Re attaches great importance to ensuring its lobbying activities are transparent. We therefore provide details to the Transparency Register of the European Parliament and the European Commission, the Lobby Register of the German Bundestag and the Bavarian Lobby Register on focal points, memberships and the effort and expense involved in our lobbying activities.