In order to objectively measure the degree of fulfilment of Corporate Governance (CG) in our company, we utilise the CG scorecard prepared by the German Society of Investment Analysts and Asset Management (DVFA). This contains some 50 measures for the comprehensive implementation of Corporate Governance - separated according to the criteria CG commitment, shareholder rights, transparency, company management and auditing.

We currently fulfil approximately 81% of the requirements laid down by the DVFA in its CG scorecard. In order to provide you with an overview of the extent of our activities, the following is an extract of the most important measures in place:

Corporate Governance commitment

  • The value-orientated management of the company, which takes into account the interests of all stakeholders, is reflected in our corporate philosophy as well as in the CG rules.
  • A CG officer reports regularly to the Executive Board and the Supervisory Board.

Shareholder rights

  • The equal treatment of all shareholders is taken into account in the case of share repurchases.


  • All investors are treated equally regarding information dissemination ('fair disclosure').
  • Up-to-date information is disclosed via the Internet, Press Releases etc.
  • Regular analysts' meetings are held.
  • The agenda and voting results of the Annual General Meeting are made available on the Internet.

Company management

  • There is a system of remuneration for the Executive Board, which is variable in line with the increase in corporate value (stock option plan).
  • A relevant benchmark is utilised to measure the increase in corporate value (the Hannover Re share price in comparison with a well-known index).
  • The Supervisory Board contains a sufficient number of independent members.
  • Focus areas of the audit are agreed between the Supervisory Board and auditors.


  • An internationally recognised accounting system is used (IFRS).
  • Quarterly reports are published as of 2001 onwards (incl. segment reporting and earnings per share).
  • A holistic risk management system is in place.