Sustainability strategy

Materiality analysis 

We are committed to those areas where our business activities have the greatest impact on the environment and society and where we can make a positive contribution. To identify the most relevant topics and the greatest levers, we have been carrying out materiality analyses for the entire Group systematically and at regular intervals since 2013. This enables us to better understand the needs of our stakeholders and identify opportunities and risks regarding sustainability.

For the 2023 materiality analysis, we primarily involved internal stakeholders from the various market units and business functions of the Group, including managers, sustainability experts from various business units, the CEO and CFO. Through stakeholder input and analyses, we consider impacts, risks and opportunities to achieve relevant results not only at Group level, but also at the local level.

Our materiality assessment considers how the relevance of the topics may develop over time. Based on stakeholder surveys and scenario analyses, we expect topics such as the integration of ESG factors in underwriting, responsible investment, greenhouse gas reduction, talent management and innovation management to become more important (see also the illustration of the materiality assessment results below). To monitor the development of the relevance of the material topics, we have established a process for the annual update of the materiality assessment.