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Transparent lobbying activities

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    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. Currently our main focus is on the following topics:

    Digitalisation

    Digitalisation has an enormous impact on almost every aspect of our business. We support the digital agenda of the German government and the European Commission. Our focus is on creating a uniform framework and legal certainty in Europe. These should be flexible and agile enough to allow the development of innovative products and services and to exploit the benefits of digitalisation.

    Global Insurance Capital Standard (ICS)

    After 10 years of developing a global capital standard for insurance companies, its gradual implementation is now to begin. We will continue to monitor further international developments in this phase as well, in order to recognize any effects on our business in time.

    Climate Change and Sustainable Finance

    We acknowledge the goals of the Paris Climate Agreement and are committed to them. Through our public commitment, we aim to promote the transition to a low-carbon and sustainable economy. We participate in debates concerning the EU Sustainable Finance Regulation, and take part in consultations on legislative procedures and in supervisory authority surveys. In addition, we are also actively participating in discussions about closing the protection gap regarding natural disasters. As an industry we already face increasing damages from these climate change related events.

    Savings- and Investment Union

    The savings and investments union aims to create a financing ecosystem to benefit investments in the EU’s strategic objectives. In this context we are engaging in the debate about the future framework for securitization. The insurance industry can contribute to revitalising the EU securitization market both on the asset and on the liability side, especially with respect to unfunded credit protection.

    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.