Respect for and observance of human rights is a fundamental prerequisite for the Hannover Re Group's business wherever it trades. Human rights issues, such as equal treatment, protection from slavery and human trafficking, discrimination and the right to protection of personal data, are governed by the Hannover Re Code of Conduct which is mandatory for all employees.
Above and beyond this, Hannover Re is committed to monitoring respect for human rights in the supply chain. In the Sustainability Strategy approved by the full Executive Board in 2011 and revised in 2015, we set ourselves the goal of evaluating 100% of relevant suppliers according to environmental and social standards. As a general principle, we secure the commitment of our suppliers to meet the minimum standards specified in the Code of Conduct for suppliers of Hannover Re. In 2017, we added additional standards to our Code of Conduct for suppliers to ensure slavery and human trafficking is not taking place anywhere in our supply chains.
Our Code of Conduct for Suppliers includes respect for human rights (e.g. ILO core labour standards) as an essential component. Since the middle of 2012 the procedure for selecting and evaluating new suppliers has included a check on whether they meet the requirements of the Code of Conduct. In addition, existing supplier relationships are also successively reviewed for compliance with the Code of Conduct as part of an ongoing process.
This has been complemented by the development of a process for self-reporting by suppliers and service providers that also contains criteria from the Code of Conduct. The procedure is now used on a regular basis in our Hannover locations and a similar one has already been implemented in our locations in the United Kingdom. In a next step we intend to expand the process for self-reporting by suppliers and service providers to the other locations worldwide. An “Anti Slavery Clause” has been introduced to the contracts with our suppliers servicing our Irish location. The contracts with our suppliers in South Africa refer to compliance with all applicable labour and employment laws as a standard provision.
This statement has been approved by the Hannover Rück SE Executive Board and will be reviewed and updated annually.
Jean-Jacques Henchoz, Chairman of the Executive Board Hannover Rück SE
Hannover, 29 July 2019