The following stakeholder groups are particularly relevant to Hannover Re: clients, business partners, employees, the capital market, the public sector and non-governmental organisations (NGOs). The selection of relevant stakeholders is based on Hannover Re's business operations and geographical presence, and is regularly reconciled with representatives of the business units.
Moving forward through dialogue
Hannover Re maintains an open dialogue with its stakeholders. By sharing information and opinions with its stakeholders the Group seeks, as far as possible, to integrate the expectations and aspirations of the various groups into its own business operations. Furthermore, this dialogue helps to identify risks and opportunities at an early stage and serves to build trust.
In order to draw up its first Sustainability Strategy in 2011 Hannover Re surveyed individuals from all its important stakeholder groups with regard to their perspective on sustainability at the company. Their answers were incorporated into the development of the Sustainability Strategy. Since then the company has conducted a corresponding survey with representatives of stakeholder groups prior to each strategy cycle. The findings provide valuable feedback on the quality and perception of the company's work in the field of sustainability and serve as input for the revision of the respective Sustainability Strategy.
Hannover Re cultivates an ongoing dialogue with its stakeholders in a variety of ways. Through conferences, roadshows and one-to-one meetings, for example, we stay in contact with representatives of the capital market, rating agencies and private investors. The dialogue with the company's worldwide clients is conducted by staff of Hannover Re through direct, personal contacts as well as through relationships with brokers. Customer relationships are normally maintained by individual divisions at Hannover Re. Furthermore, customer satisfaction is regularly measured with the involvement of outside market research institutions.
The company also engages in a continuous dialogue with political decision-makers, supervisory authorities and insurance industry associations. The focus here is usually on matters of insurance supervision and financial market regulation in Germany, the EU and on the international level. In this context Hannover Re contributes professional expertise from corporate practice to the public debate. In concert with stakeholders the company engages in numerous sustainability-oriented initiatives. Employees contribute their specialist expertise to the work of associations, advocacy groups and organisations and support the discourse of sustainability in society.
Advocacy groups and memberships
Hannover Re is a member of numerous regional, national and global associations, advocacy groups and organisations. The employees participate in working groups on various topics and contribute their specialist expertise to relevant discussions on a range of subjects, including sustainability issues.
On the international level Hannover Re has added its signature to the Geneva Association's "Climate Risk Statement". The guiding principles set out therein describe how the insurance industry intends to play its part in global efforts to tackle climate-related risks. These include activities in the areas of product innovation, climate research and investment.