As an internationally operating company, Hannover Re bears responsibility in various senses. This is true of its compliance with relevant laws and regulations, but also applies to its relationship with staff, shareholders, the public at large and the cultures within which the company operates. As a European company (Societas Europaea – SE) based in Germany, the formal framework that shapes Hannover Re’s corporate governance is determined by German law. The fundamental hallmarks of this corporate governance are a two-tier system with its transparent and effective split into management (Executive Board) and its oversight (Supervisory Board), the appointment of shareholder and employee representatives to the Supervisory Board and the rights of co-administration and supervision exercised by shareholders at the Annual General Meeting. The interplay between these bodies is regulated by German stock corporation law and by the company’s Articles of Association. Furthermore, our Group Strategy, the Corporate Governance principles and our Code of Conduct form the basis of our enterprise management. The highest authority for sustainability issues is the Executive Board, whose members pursue the sustainability objectives on a collective basis.
In addition to our continuous engagement with the changing legal framework conditions, since 2003 we have provided an annual Declaration of Conformity with the German Corporate Governance Code (DCGK); this is published on our corporate website of the present Annual Report. The Corporate Governance principles of Hannover Rück SE are also subject to regular review and fulfil the recommendations of the currently valid version of the German Corporate Governance Code as amended.
Given that the trust of our stakeholder groups and an immaculate reputation advance the success of our company, we also make every effort to continuously maintain an active dialogue with our stakeholders. Through conferences, roadshows and one-to-one meetings, for example, we stay in contact with representatives of the capital market. Our employees cultivate the dialogue with our worldwide customers through direct, face-toface discussions. Furthermore, we regularly measure customer satisfaction with the assistance of external market research institutes. We similarly engage in an ongoing dialogue with political decision-makers, supervisory authorities and insurance industry associations. The primary focus here is on topical issues in insurance supervision and financial market regulation in Germany, the European Union and on the international level. In this context Hannover Re contributes its specialist expertise from business practice to the public debate. Hannover Re is also a member of various associations, advocacy groups and organisations.
In our annually published Sustainability Report we provide ongoing information about our achievements as a responsible company. In this regard we follow the currently applicable and internationally recognised guidelines of the Global Reporting Initiative (GRI). Furthermore, a favourable rating testifies to the fact that our sustainability communication lives up to the transparency requirements of Environmental, Social and Governance (ESG) rating agencies: in June 2015 Hannover Re received confirmation for the first time of its inclusion in the worldwide FTSE4Good Index Series from the FTSE Environmental, Social and Governance Advisory Committee – an index on which it has been listed since that date.