Good corporate governance
Good corporate governance creates trust
Code of Conduct: Commitment to compliant conduct
Our Code of Conduct creates a Group-wide common understanding of the values that Munich Re regards as the foundation for its operations. The document is therefore available in Munich Re’s most important working languages (English, German, French and Spanish). The Code of Conduct addresses all employees of the Group and staff at our subsidiaries and, together with other policies, guidelines, and work instructions, guides our activities on a daily basis. The Code of Conduct addresses our commitment to combatting any potential non-compliance, for example in the areas of corruption, competition, money laundering, or the financing of terrorism. We respect human rights and underline the importance of our strict compliance standards, also across the value chain.
Compliance aims for integrity in all actions
Compliance with applicable laws and internal rules and principles is binding for all Munich Re staff. To strengthen 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 is based on the three pillars Prevent, Discover, and Respond.
Meeting data-protection and information security requirements
Munich Re handles an enormous amount of data in the course of its business activities. With increasing digitalisation, many business processes involve the processing of confidential and personal data, a subject that is of particular concern for us, not least because information security and data privacy are the basis of trust in business relationships and play a key role in safeguarding our reputation. We are also having to manage an ever-increasing volume of information and data.
If we are to be treated as a competent and trusted partner, it is therefore essential for us to protect the personal data of our staff members, clients and stakeholders, while safeguarding both our own and our sales partners’ trade secrets and corporate information. For this reason, Munich Re has implemented data privacy and information security management systems in its fields of business.
Respecting human rights
At Munich Re, our business model is based on responsible, sustainable, and forward-looking action over the long term. We regard the protection of human rights as a particular obligation, one that we strive to meet in line with internationally accepted human rights principles. It is part and parcel of our approach to corporate governance, which embeds economic, environmental, and social requirements into our definition of success.