Entrepreneurial success is only sustainable if it is achieved on the basis of ethical behaviour. As an internationally operating company, Hannover Re bears responsibility in various senses. This is true of its compliance with relevant laws and regulations, but also applies to its relationship with staff, shareholders, the public at large and the cultural circles in which the company operates. In the context of face-to-face discussions, joint events, membership of societies and associations and regular surveys, we maintain an open and ongoing dialogue with our stakeholder groups – whose trust is a vital prerequisite for our entrepreneurial success. The considerable importance that we attach to this issue is also reflected in the associated responsibility within the organisation: the Executive Board of the company jointly drives and tracks implementation of the sustainability strategy.

As a company based in Germany, the formal framework that shapes our corporate governance is determined by German law. With one exception Hannover Re fulfils all the recommendations of the German Corporate Governance Code (DCGK). Further details in this regard are provided in the section “Enterprise management”. What is more, our Code of Conduct – which we adopted Group-wide in 2003 – serves as a further guide for our day-to-day activities.

With effect from the autumn of 2012 we shall report on the degree of goal accomplishment as well as on the development of key performance indicators in an annually published sustainability report. In so doing, we shall be guided from the outset by the internationally recognised guidelines of the Global Reporting Initiative (GRI).