Property & Casualty reinsurance
Sustainability
Integrating sustainability into our business practices is essential for managing risks - especially related to climate change -, fostering long-term resilience, enhancing our financial performance and making a positive social impact.
Our focus
We want to expand our positive impact on the environment and society by offering specialised insurance products to close the protection gap or to protect against natural disasters enhanced by climate change. Additionally, it is important to reduce adverse impact by decarbonising our portfolio and phasing out fossil fuel related exposures. We are committed to reach net zero emissions in reinsurance business by 2050 and to have no thermal coal risks in the entire property & casualty reinsurance portfolio by 2038.
Our approach
Decarbonisation
Global decarbonisation is one of the most important topics for the next decades. Hannover Re has committed to net zero by 2050 in reinsurance. To comply with this, obtaining transparency is key in order to steer emissions effectively. We will reduce our carbon footprint based on a transition plan and underlying milestones.
Engagement
Due to our downstream role as a reinsurer, we rely on cooperation with our business partners to obtain transparency. Therefore, we further engage with our cedants and brokers. By the end of 2026 we will have engaged with our clients on the focus areas "net zero targets" and "1.5°C commitment" in order to create transparency and to support the overall transition.
Opportunities
We acknowledge the worldwide transition towards a more sustainable economy as a game changer. Therefore, we identify and pursue profitable business opportunities in order to continuously write our success story. At the same time, we strengthen societal resilience in our role as a global reinsurer.