ESGinvestors@Talanx
Talanx at a glance: Together we deliver strong results Gross written premiums (EURbn) Operating profit (EURbn) 39.5 (+13%) 2.4 (+20%) ~23,000 employees Group net income (EURm) Net return on investment 923 (+31%) 3.5% (+0.2% -pts ) Net return on equity Solvency II ratio 150 9.8% (+1.8% -pts ) 211% (+2% -pts) countries As at FY 2019 2 ESGinvestors@Talanx, August 2020
Forward-looking strategic and cultural positioning Purpose Strategy Enhanced capital management 1 Sustainability + 2 Focused divisional strategies Culture Digital transformation 3 3 ESGinvestors@Talanx, August 2020
Our Group's strategy is flanked by our sustainability activities Enhanced capital management Focused divisional strategies Capital Management Industrial Lines Retail International Retail Germany Reinsurance + + Sustain- ability ▪ Programme KuRS ▪ Programme 20/20/20 ▪ Top 5 in core markets ▪ Focus Reinsurance ESG ▪ Specialty ▪ SME E nvironmental S ocial G overnance Digital transformation 4 ESGinvestors@Talanx, August 2020
Our recent ESG highlights – consistent implementation of measures Talanx leads the Talanx co-invests Talanx has made its financing for CPP with Ardian for a second investment investments’ stake 26% ownership this year in a high- in Germany’s stake in German speed Internet largest offshore regional utility project in France by wind project, EWE AG by contributing more funding EUR 321m investing a three- than EUR 60m to an Apr 2020 Aug 2020 of the EUR 511m digit million Euro international debt project bonds amount financing deal Talanx is Talanx finances two supporting the solar power pro- Feb 2020 expansion of fast May 2020 jects in Spain via a Aug 2020 Internet in France EUR 250m credit by investing EUR insured project bond. 200m in The plants in the comprehensive Castilla-La Mancha international debt region provide financing amounting 52,000 households to EUR 2.1bn with green electricity 5 ESGinvestors@Talanx, August 2020
Action areas aligned with the "Ten Principles" set out in the UN Global Compact Sustainability strategy and governance Society Company Asset management Operations & underwriting Action area 1 Action area 2 Action area 3 Action area 4 1 2 3 4 Compliance and Investment and Work and Day-to-day operations insurance products employees and procurement transparency Dialogue and reporting 6 ESGinvestors@Talanx, August 2020
Talanx is committed to particularly contribute to 7 out of 17 of the United Nations' SDGs 7 ESGinvestors@Talanx, August 2020
Action area 1: : Compliance and transparency "Our business partners have to live up to the values that are important to us" Kathrin Reichert, Head of Group Compliance Hannover, Talanx AG Goal Measure Material topic ▪ Review compliance guidelines for ▪ Supplementing compliance management sustainability criteria and incorporate system with a group-wide integrity Compliance where necessary management ▪ Optimise compliance management ▪ Regular review of corruption risk ▪ Regular review of corruption risks as a ▪ Code of Conduct for business partners result of compliance risk analyses to ensure that principles and standards are Human rights at Talanx complied with along theentire value chain ▪ Continue establishment of support services ▪ Establish collaborative model for EU loca- for foreign data protection management tions outside Germany Data protection and ▪ Expand ad hoc monitoring policy in ▪ Overview of ad hoc monitoring performed in cybersecurity accordance with Art. 37 of the GDPR functions and projects to assess compliance ▪ Improve efficiency , increase revenue, ▪ Defined initiatives and KPIs for the enhance cooperation readiness/ interfacing individual divisions (see also our strategy Digital transformation ability component "digital transformation" ) 8 ESGinvestors@Talanx, August 2020
Action area 2 : Investment and insurance products "As insurers, we think long-term and focus more on sustainable investments" Arzu Dağtekin , Client Relationship Manager, Ampega Asset Management GmbH Goal Measure Material topic ▪ Check sustainability criteria when selecting ▪ ESG screening is performed every six investments months by an external service provider ▪ Phaseout of coal by 2038 ▪ Exclusion of oil sands ESG in asset management ▪ Develop a climate strategy for the portfolio ▪ Set up of ESG body " Responsible Investment Committee 1 " (RIC) ▪ Increase investments in infrastructure ▪ Continue sectoral diversification of and renewable energy sources to up to infrastructure portfolio EUR 5bn (current investment volume: EUR ~3.5bn) ▪ Easy-to-understand information about ▪ The relevant companies in the Retail insurance solutions Germany Division have signed up to the Code of Conduct issued by the German ESG in insurance solutions Insurance Association (GDV) ▪ Support, develop and expand sustainable ▪ Establishment of an ESG committee for insurance solutions underwriting ("Responsible Underwriting Committee", RUC 2 ) ▪ Continuously review and fine-tune sustaina- bility approach applied in underwriting 1 The committee is chaired by Talanx AG’s Chief Financial Officer (CFO), CFOs of the segments and investment managers, the head of Group Communications, the head of Investor Relations and Ampega Asset Management’s senior management 2 Consisting of Talanx AG Board Members 9 ESGinvestors@Talanx, August 2020
Action area 3: Work and employees 3 "For me, “together” means combining knowledge, culture and passion in a single goal" Ceyhan Hancıoğlu , General Manager of HDI Sigorta Goal Measure Material topic ▪ Ensure adequate numbers of talented ▪ Facilitate initial vocational training and dual- young staff track degree programmes ▪ Maintain / restore employees ’ working ▪ Roll out existing employee health days / capacity health management to locations ; sports Employee recruitment and offering for employees; continue existing ▪ Extend education measures for specialists health/screening and prevention programme and managers development ▪ Personal development programmes ▪ Diversity / increase proportion of women ▪ Recruit women to at least 25% of vacant in management positions management positions in Germany ▪ Work-family balance/ work-life balance ▪ Flexible working time models / mobile working / contribution to childcare costs ▪ Internationality ▪ International Managemant Development ▪ Advancing social matters and promoting Talanx as an employer Programme (MDP) and secondments abroad charitable projects and local initiatives ▪ Capture social projects throughout the Group 10 ESGinvestors@Talanx, August 2020
Action area 4 4: Day-to-day operations and procurement "Forgoing comfort should be a small price to pay for environmental protection" Helene Leichtling, Head of Logistics, HDI Service AG, Hannover Goal Measure Material topic ▪ Transparency, include climate change ▪ Calculate carbon footprint and offset aspects in sustainability strategy unavoidable CO 2 emissions produced during operations ( carbon neutrality in Germany ) Climate change ▪ Development and implementation of a group-wide climate strategy (covering own business operations as well as the investment portfolio) ▪ Integrating sustainability criteria into our ▪ Uniform groupwide code of conduct for procurement operations business partners ▪ Sourcing environmentally friendly products and ▪ Review, develop and successively implement a Supplier management ensuring that environmental and social criteria procedure for assessing suppliers in accordance are taken into account in the supply chain with environmental and social standards ▪ Reduce CO 2 emissions and consumption of ▪ Optimise energy consumption by adjusting energy and resources timer programmes ▪ Expand and promote corporate environmental ▪ Investigate switch to recycling paper Environmental protection in ▪ Equip all company cars with a Climate Cool fuel protection the enterprise ▪ Expand and promote sustainable mobility card ▪ Electromobility policies 11 ESGinvestors@Talanx, August 2020
Selected ESG figures 2 Compliance and transparency Investments & insurance products 3 Work & employees Women in management positions 1 Investments in infrastructure (EURbn) Training days per employee (p.a.) 30.2% 2.5 2.9 29.5% 29.0% 2.5 2.1 2.0 2.3 2.0 2.0 18.4% 1.5 17.5% 1.1 2 2 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 4 Day-to-day operations and procurement Total CO 2 emissions in Germany Compensation of German CO 2 Energy consumption in Germany (Scope 1 + 2 + 3) in metric tons In MWh emissions (2019) in metric tons / certificates -12% -26% 62,663.0 45,886 55,480.9 2,245 33,857 33,857 -26,102 -10,000 3 2018 2019 2018 2019 CO2 Adjustments Project Project emission Brazil Indonesia 1 Comprises the entire Talanx Group (including Hannover Re) 2 Only Germany (excluding Hannover Re) 3 Adding 10% security buffer, minus services already compensated by a third party (e. g. DB, Lufthansa) Note: Deviations between the current data and the figures for previous years cannot be ruled out due to the continuous expansion of the report boundaries. As a result, the change in the data capture processes and calculation methodology means that the direct comparability of the annual data cannot be fully guaranteed 12 ESGinvestors@Talanx, August 2020
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