Respect for and observance of human rights is a fundamental prerequisite for the Hannover Re Group wherever it trades in the world. Human rights issues, such as equal treatment and anti-discrimination (which also encompasses the prohibition of modern slavery and human trafficking), as well as the right to protection of personal data are therefore governed by the company's Code of Conduct, which is mandatory for all employees.
Hannover Re is committed to monitoring respect for human rights in the supply chain. In its Sustainability Strategy, which was approved by the full Executive Board in 2011 and revised in 2014, the company set itself the goal of evaluating 100% of relevant suppliers according to environmental and social standards. As a general principle, Hannover Re requires its suppliers to meet the minimum standards specified in the Code of Conduct for Suppliers of Hannover Re. These were expanded in 2017 to include an express prohibition of modern slavery and human trafficking anywhere in its supply chains.
Hannover Re's 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 an application-supported process for self-reporting by suppliers and service providers that similarly contains criteria from the Code of Conduct. The procedure is now used on a regular basis at the locations in Hannover. Hannover Re intends to expand this procedure as a first step to its UK and Irish offices and to other locations worldwide thereafter.
This statement was approved by the Executive Board of Hannover Rück SE at its meeting on 26 June 2017. It is reviewed and updated annually, as appropriate.
Chairman of the Executive Board
Hannover Rück SE
Hannover, 26 June 2017