For NewRe, acting responsibly means creating added value for our company and for society as a whole. This shared-value approach forms the basis for our corporate responsibility strategy and ensures optimal use of our strengths and abilities.
At NewRe, we are convinced that our business concept can only be successfully realised through sustainable and responsible action. Therefore, we are committed to respecting human rights in line with internationally accepted human rights principles and the United Nations Guiding Principles on Business and Human Rights.
As part of the Munich Re Group, we apply to all business units the same principles Munich Re has signed up to. These principles are outlined in the UN Global Compact, the UN Guiding Principles on Business and Human Rights, the UN Principles for Responsible Investment and the Principles for Sustainable Insurance.
We further apply the ten environmental, social and governance criteria Munich Re has established and receive counselling from the Group Corporate Responsibility Committee and a committee which also assesses reputational risks that arise in the course of our business operations.
NewRe addresses human rights from four perspectives: employees, procurement, reinsurance, and business and asset management. For each of these dimensions, we have implemented a set of policies, governance instruments and internal position papers to guide our decision-making and responsible business conduct.
UK Modern Slavery Act 2015
This statement is made pursuant to section 54 (1) of the UK Modern Slavery Act 2015 and constitutes New Reinsurance Company Ltd.’s (NewRe) slavery and human trafficking statement for the financial year ending 31 December 2019.