Better Health for All
0
Hannover Re's life and health reinsurance segment actively develops and supports health-positive insurance solutions. This includes integrating digital health services, genomics-based insights (e.g., healthŌme for cancer risk/medication)
1
, personalized medication safety services (GalenusRx)
2
, and solutions leveraging wearables (LifeQ, Alula Technologies)
3
for proactive health management. The company also offers functional disability insurance
4
, longevity products to fight poverty in old age
5
, and claims rehabilitation programs with a 37% average return-to-work rate in South Africa
6
. Hannover Re is aggressively phasing out reinsurance for fossil fuels
7
, having excluded new planned coal-fired power plants and mines since April 2019
8
, and new oil and gas exploration/development projects (greenfield) since mid-2022
9
, with a goal to exit thermal coal risks by 2038
10
. The company processes extensive personal and health-related data
11
, adhering to "privacy by design," "privacy by default," and GDPR principles
12
, with robust internal controls and DPO oversight; one personal data breach notification was required
13
. Hannover Re's operations generate positive health externalities by mitigating climate-related health risks through natural disaster protection and agricultural insurance
14
, and its Vitality Active Lifestyle solutions encourage preventative health
15
. It provides moderate support for specific healthcare professionals, such as oncology nurses
16
and occupational therapists
17
. The company supports the integration of digital mental health services by its clients
18
and provides education and training to underwriters on mental health risk assessments and evidence-based guidelines
19
. Hannover Re demonstrates extensive transparency regarding financial and environmental risks
20
, but not specifically about health risks and benefits of its products to end-users.
Fair Money & Economic Opportunity
0
Hannover Re operates as a global reinsurance company, primarily providing insurance to other insurance companies rather than direct financial services to consumers. Consequently, the majority of the KPIs under 'Fair Money & Economic Opportunity' are designed for consumer-facing financial institutions and do not directly apply to Hannover Re's business model. The provided articles do not contain specific, quantifiable data points required by the rubric for KPIs such as the percentage of total customers from underserved segments, average APRs or fee multiples, revenue from high-cost products, share of the total insurance book aimed at low-income or micro-segments, customer data portability, fair lending compliance, wealth-building outcomes for a percentage of users, profit reinvestment as a percentage of pre-tax profit, financial literacy program reach, customer debt-to-income ratios, geographic coverage of banking deserts, or product simplicity for consumer disclosures. While Hannover Re supports financial inclusion by collaborating with primary insurers to offer protection to underserved consumer segments, including expanding microinsurance and agricultural risk products in developing and emerging markets
1
, and provides solutions for small businesses
2
, the evidence does not provide the specific percentages of its *total customer base* or *total insurance book* required for scoring these KPIs.
Fair Pay & Worker Respect
50
As of December 31, 2023, 94% of employees at the Hannover location were covered by collective bargaining agreements, with all employees below management level in France, India, and Sweden similarly covered.
1
The proportion of temporary workers at the Hannover location was less than 1% on the same date.
2
In 2023, the CEO's target total remuneration was 23 times that of the average employee.
3
The staff turnover ratio at the Hannover location was 4.3%.
4
The company's employee engagement score was 77, an increase from the previous year.
5
In 2023, no incidents involving a restriction of rights to freedom of association or collective bargaining, nor instances of discrimination requiring employment law consequences, were reported.
6
Fair Trade & Ethical Sourcing
0
No specific, quantifiable evidence was found in the provided articles for any of the KPIs related to Fair Trade & Ethical Sourcing. While the company has a Code of Conduct for Suppliers
1
and states that 100% of its core IT and Facility Management suppliers committed to this code by December 31, 2023,
2
the articles do not provide the percentage this represents of the company's total supplier base, preventing a score for ethical clause coverage. Similarly, while risk assessments are conducted for sourcing categories like IT hardware and Facility Management,
3
no share of spend on high-risk materials is provided. Information on audit frequency, forced/child labor incidents, supply chain traceability, remediation speed, fair-trade certified spend, or supplier diversity spend is also not quantified.
Honest & Fair Business
-20
The company's reporting is explicitly stated as not subject to external review, indicating a lack of independent verification for its ethical claims.
1
However, Hannover Re operates a comprehensive, publicly accessible whistleblower system, available online, via email, and phone in four languages.
2
This system allows anonymous reporting by employees, customers, and partners for various misconducts, including human rights violations, fraud, and corruption.
3
All tips received and subsequent measures are included in the Annual Compliance Report.
4
and employees receive regular compliance training.
5
Furthermore, the company maintains a comprehensive Code of Conduct (updated 2024)
6
and an Anti-Fraud Policy (effective 2021),
7
which explicitly prohibit bribery, corruption, embezzlement, and extortion,
8
extending these requirements to third-party providers and suppliers.
9
Risk analysis is performed at least annually,
10
with monitoring by group-wide compliance units,
11
and third-party risk governance and due diligence for indirect suppliers are in place.
12
Kind to Animals
0
Hannover Rück SE is a reinsurance company whose core business model does not involve activities related to animal welfare, such as product manufacturing, animal testing, animal agriculture, or the use of animal-derived ingredients. The company itself does not engage in activities directly involving animal welfare. Therefore, all relevant KPIs are assessed as N/A. While the company operates in Germany, a country with strong animal welfare regulations, there is no evidence of Hannover Rück SE's direct engagement in animal welfare policy improvement or advocacy.
1
No War, No Weapons
0
Hannover Re's core business is reinsurance, focusing on non-military risk management and providing financial solutions without direct military involvement. The company launched a new reinsurance unit for cyber and digital risks.
1
It set aside a €143 million precautionary reserve for potential claims from the Russia-Ukraine conflict, covering political violence and marine war.
2
Planet-Friendly Business
-40
Hannover Rück SE reported total Scope 1, 2, and 3 greenhouse gas emissions of 19,092.21 tCO₂e in 2023, covering 99% of its global workforce.
1
The company sources 50.32% of its electricity from renewable energies as of 2021.
2
Its waste diversion rate was 59.44% in 2021.
Hannover Rück SE has committed to achieving climate neutrality Group-wide by 2030
3
and net-zero targets in its reinsurance business by 2050,
4
with a goal to reduce carbon intensity in its investment portfolio by 30% by 2025 (2019 baseline).
5
The company publishes TCFD-aligned reports
6
and uses an in-house climate-related approach for scenario analysis, examining 2°C and 4°C temperature increase scenarios by 2050.
7
It acknowledges the risk of stranded assets
8
but provides minimal specific disclosure. Through the Natural Disaster Fund, the company insured an additional 40 million people in 55 countries by 2023,
9
with over five million people benefiting from protection cover.
10
Hannover Rück SE supports various biodiversity projects and partners with NGOs.
11
However, the company has not publicly committed to SBTi-validated science-based targets.
12
Respect for Cultures & Communities
-20
Hannover Re is not among the re/insurers committed to taking Free, Prior, and Informed Consent (FPIC) into account in their due diligence process before providing insurance coverage, indicating a 0% participation rate in FPIC processes for affected communities.
1
The company's operations do not involve direct engagement with cultural or indigenous communities.
2
There are no reported cultural appropriation incidents.
3
Hannover Re's ESG manual states that transactions are declined if they may entail damage to protected areas classified as IUCN category 1a/b, wetlands protected under the Ramsar Convention, or world cultural heritage sites.
4
The company publishes its Code of Conduct on its website in various languages.
5
Safe & Smart Tech
10
Hannover Re holds ISO 27001 certification for information security management
1
and adheres to GDPR standards.
2
The company provides mandatory annual cyber risk training for all employees.
3
It complies with numerous regulations, including Solvency II
4
, Central Bank of Ireland requirements
5
, and the German Corporate Governance Code.
6
Furthermore, Hannover Re has established a Cyber and Digital Business unit to enhance its underwriting expertise in cyber and digital risks
7
and implemented a centralized system to automatically encrypt and decrypt emails for approximately 2,000 users.
8
IT security is continuously monitored by Hannover Group IT.
9
Zero Waste & Sustainable Products
0
Hannover Rück SE operates as a reinsurance company, providing financial services rather than physical products. The provided articles do not contain specific, quantitative data regarding waste reduction, product recyclability, packaging sustainability, or other waste-related metrics for the company's own operations or services. While the company supports external environmental projects through its foundation, such as ocean plastic clean-up and coral reef restoration, these are not direct waste reduction initiatives within its own operations. Articles explicitly state that direct quantitative data on waste reduction within operations are not available
1
and no quantitative metrics on waste reduction are provided in public disclosures.
2