Better Health for All

Munich Re's core services, including tailored healthcare services, managed care, and epidemic risk solutions, aim to improve access to quality care, control costs, and manage pandemic risks, supporting UN SDG .

The company's research center translates medical advancements into insurance solutions, tackling areas like mental health, cancer, and rare diseases, promoting insurability and fair risk assessments. Its vision for AI-integrated healthcare aims to transform disease prevention, early diagnosis, and personalized treatments. The partnership with Goodpath offers virtual care addressing physical and mental health, improving outcomes and reducing long-term disability. Munich Re provides Epidemic Risk Solutions, offering financial protection against global health threats and building resilience against future pandemic challenges. No evidence suggests Munich Re's products or activities have well-established negative health outcomes. As a reinsurance company, its products do not have direct safety implications, addiction potential, or involve pharmaceutical patents, food products, or clinical trials. Its operations do not generate significant health externalities.

Fair Money & Economic Opportunity

Münchener Rück AG (Munich Re) operates primarily as a reinsurance company, underwriting risks for other insurance companies.

It explicitly states that the company does not directly engage in financial services such as lending or microloans, nor does it have direct initiatives focused on fair money or economic opportunity, particularly concerning empowering small businesses or providing equitable financial services. While the company does offer primary insurance through its ERGO Group, the provided articles do not contain specific data points or initiatives related to underserved client shares, pricing fairness, exploitative fees, inclusion initiatives, data accessibility, fair lending compliance, wealth-building outcomes, profit reinvestment in community finance, financial literacy programs for consumers, customer debt burden, geographic inclusion for financial services, or product simplicity measured by readability standards. Therefore, no evidence is available to score any of the KPIs related to fair money and economic opportunity.

Fair Pay & Worker Respect

No specific quantitative data or concrete facts were found in the provided articles for any of the KPIs related to Fair Pay & Worker Respect.

While one article generally mentions Munich Re's commitment to fair pay, competitive salaries, comprehensive benefits, and diversity initiatives, and notes that employees report favorable conditions, these are qualitative statements without the specific numbers, percentages, or metrics required by the rubric's thresholds. Another article discusses a fund's investment criteria, which include looking for fair pay and avoidance of zero-hour contracts, but this does not provide data on Munich Re's own practices. Therefore, no KPIs could be scored.

Fair Trade & Ethical Sourcing

Munich Re has established a Supplier Code of Conduct that ensures all third-party suppliers meet its standards for environmental protection, fair workforce treatment, safe working conditions, zero tolerance for corruption, and ethical practices

. As a reinsurance company, Munich Re does not procure or trade physical commodities, thus KPIs related to fair-trade certification of inputs or spend on high-risk materials are not applicable.

Honest & Fair Business

Munich Re's Supervisory Board consists of 100% independent members, as defined by ESRS.

The company maintains a zero-tolerance policy for corruption and bribery, supported by comprehensive measures, a Group Code of Conduct, and anti-corruption training for all staff. Its Compliance Management System (CMS) focuses on risk prevention, management, and continuous improvement. A whistleblower portal, compliant with the EU Whistleblowing Directive 2019/1937, has its anonymity function externally certified under ISO 27001. For external verification, EY performed a limited assurance engagement on the entire 2024 combined non-financial statement, and KPMG confirmed ERGO's effective implementation of its Code. However, previous year's figures were restated due to an adjustment in the allocation of insurance contracts.

Kind to Animals

Munich Re does not have specific animal welfare policies or initiatives, and its human rights commitment does not extend to animal welfare.

Given its business in reinsurance and financial services, the company has no direct involvement in animal testing, animal agriculture, or animal-derived products, rendering many animal welfare KPIs not applicable. While its asset manager, MEAG, promotes biodiversity through sustainable forestry and agriculture, and Munich Re's TreeTrust initiated an afforestation project in Costa Rica in May 2022 expected to benefit biodiversity and wildlife habitats, no measurable outcomes for species recovery or habitat restoration are provided.

No War, No Weapons

The company's ESG manual explicitly excludes transactions with companies connected with internationally controversial weapons.

Its investment guidelines further exclude issuers associated with the development and proliferation of internationally controversial weapons. A formal divestment policy rules out any new investments in such issuers and committed to divest all relevant existing investments by no later than the beginning of 2025. As the article is dated February 2026, this indicates that 100% of these specific defense-related investments have been divested.

Planet-Friendly Business

Munich Re sourced 87% of its purchased electricity from renewable sources in 2024.

Water intensity was 7.48 m³ per €m insurance revenue in 2023. 3.7% of capital expenditure was aligned with the EU Sustainable Taxonomy in 2024. Munich Re targets net-zero for its business operations by 2030, supported by interim 2025 goals to reduce CO2 footprint per employee by 12% from 2019. For its insurance business and investment portfolio, a net-zero ambition is set for 2050, with interim 2025 goals for CO2 footprint reductions. The climate-related disclosure section follows the recommendations of the TCFD, and scenario analyses for physical and transition risks up to 2050 are conducted. Climate-related scenario analyses for physical and transition risks are conducted up to 2050, based on NGFS scenarios, with further analyses in 2023 and 2024 addressing physical risks in life and health reinsurance. Munich Re has committed to divesting from thermal coal by 2040 and has implemented restrictions on new direct investments in pure-play oil and gas companies and related infrastructure as of April 2023. Munich Re supports climate justice through initiatives such as inclusive insurance in India and Southeast Asia, and the Caribbean Catastrophe Risk Insurance Facility (CCRIF), which has made 62 payouts totaling US$265 million, benefiting 3.5 million people.

Respect for Cultures & Communities

Munich Re has established a grievance procedure accessible to all stakeholders, ensuring transparency and accountability in addressing human rights concerns

. No cultural appropriation incidents have been reported. The company supports initiatives that help communities adapt to climate change, including reforesting mangrove forests in Vietnam's Mekong Delta to protect the region from storms and floods while preserving the local ecosystem . Additionally, Munich Re supports the tropical forest charity OroVerde in Latin America, focusing on protecting rainforests and providing sustainable opportunities for local communities .

Safe & Smart Tech

Munich Re has a comprehensive AI ethics program, demonstrated by its alignment with the Monetary Authority of Singapore's FEAT principles to ensure AI systems are ethical and fair, tackling biases and maintaining human accountability.

The company has appointed leadership roles in AI ethics, focusing on governance frameworks.