Along with the skills and dedication of its employees, the considerable diversity of the workforce is one of the cornerstones of the company's successful business activities. Encouraging this diversity is therefore a major concern for Hannover Re. At the Hannover location alone, Hannover Re employs staff of some 40 different nationalities.
Group-wide, the gender ratio is evenly balanced. With a ratio of 15.6% we missed the targeted ratio of 18.0% for women on the first and second levels of management set by the Executive Board so far. Going forward, we shall make every effort to achieve the quota set for women for the period from 1 July 2017 to 30 June 2022. Executives have a pivotal role to play in potentially increasing this ratio. It is incumbent upon them to make targeted use of the potential of their female members of staff in day-to-day business and to consciously consider them when filling management positions. Secondly, the Executive Board decided in 2012 to promote measures for the advancement of women. To this end, the existing personnel development tools were supplemented by a mentoring programme designed especially for women. This programme involves bringing female employees together with experienced senior managers for a period of 12 months to engage in a targeted, regular dialogue. The mentees are encouraged to reflect on their professional development to date and to take steps to actively shape their future career.
Diversity of composition is also one of the aspects considered by Hannover Re in selecting the members of the Executive Board and Supervisory Board. For the period from 1 July 2017 to 30 June 2022 the Supervisory Board has therefore set a target quota of 30% for women on the Supervisory Board and 14% on the Executive Board. Both target quotas have been achieved already.
Remuneration at the company is paid according to clear and transparent rules. Hannover Re's employees are compensated solely on the basis of their specific tasks, their skills and qualifications and their performance. Salary increases and promotions follow a clearly defined process. The individual promotion grades are subject to transparent criteria published in the company's in-house intranet, which are also purely skills-based. Employees in Germany additionally benefit from the security and advantages of the collective agreement for the private insurance industry.