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 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 handles an enormous amount of data in the course of its business activities. With increasing digitalisation, many business processes involve the processing of personal data, a subject that is of particular concern for us, not least because data protection forms the basis for trusting business relationships and plays a key role in safeguarding our reputation. We are also having to manage an everincreasing 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 and clients, while safeguarding both our own and our sales partners’ trade secrets and corporate information. For this reason, Munich Re has implemented data protection and information security management systems in each of its fields of business.
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.