Society

More details in our Sustainability Report 2022, p. 92

Munich Re is dedicated to improving public welfare and promoting social cohesion. Our social impact strategy represents the bedrock of this commitment, and the resources we put into the community evidences the fact that we take our responsibility seriously. What is more, we substantially increased social spending in 2022 – mainly through donations – to a total of €13.5m. The drivers of of this increased spending included, firstly, our commitment to support people affected by the war in Ukraine, and secondly, sponsorship of our own Social Engagement Awards.

Climate change

One of the three strategic focus areas within our social engagement is climate change. At the heart of our climate protection activities is our Tackling Climate Change Together (TCCT) initiative, which is driven by both Munich Re and ERGO. Core activities include the maintenance, sustainable use, and regeneration of ecosystems to limit the regional effects of climate change and ensure that the basic needs of people living in affected areas are met. Furthermore, we support start-ups with innovative ideas to remove CO2 from the atmosphere. We take a long-term view of these initiatives to maximise their chances of success. In addition, from the moment these projects are set up, we have targets and impact measures in place and work closely with our external partners to achieve them.

Disaster relief

For many years, Munich Re has provided financial support for emergency aid measures and reconstruction projects following natural disasters. To this end, we work closely with and support the aid organisation Save the Children. Munich Re set up a formal partnership with Save the Children in 2019.

In 2022, humanitarian interventions included the provision of shelter and foodstuffs as well as medical, psychological and pedagogical support to families and children across the Horn of Africa, South(-East) Asia and Eastern Europe. As a result, more than 3,570 beneficiaries received, among other aid measures, vital nutritional assistance in the form of food packages and cooking utensils.

Find more about our projects on disaster relief , Sustainability Report 2022 p. 98

Employee engagement

We also show our commitment to numerous social, cultural and ecological projects at our different sites through corporate volunteering. Many of the initiatives were conceived by our employees, who also drive them forward. We fully endorse our employees’ voluntary work. At Munich Re in Munich, for example, employees can take up to two days special leave if they dedicate part of their annual holiday to volunteering projects. In addition, the Schinzler Foundation supports our employees’ voluntary work by giving grants to various projects

Together we care : Social Engagement Awards

All employees of Munich Re worldwide were invited to apply for the Social Engagement Awards. The prerequisite for a project application was personal commitment in the form of Corporate Volunteering activities, as well as the association of a team with at least five colleagues.

Our employees voted to decide which of the 114 submitted projects should be funded, with a total of about 17,000 votes cast. Chosen initiatives were rewarded with grants of between €5,000 and €250,000, with a total of 25 charitable projects (over 20% of the total number of projects) supported by the Social Engagement Awards. The broad range of supported projects covered areas such as education, healthcare, inclusion, nature and species conservation. Furthermore, all selected projects were either able to start their work or significantly develop the concept thanks to Munich Re’s financial support.

Find our key figures on social engagement in our Sustainability Report, p. 133

> 13,5m €

social spending in 2022