Sustainability Report 2018 Vienna Insurance Group Sustainability Report 2018 Vienna Insurance Group TOMORROW CUSTOMERS EMPLOYEES
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ENVIRONMENT CUSTOMERS CORE BUSINESS EMPLOYEES SOCIETY Vienna Insurance Group TOMORROW Protecting what matters. Sustainability Report 2018 Sustainability Report 2018 Vienna Insurance Group ENVIRONMENT CUSTOMERS CORE BUSINESS EMPLOYEES SOCIETY Consolidated non-fi nancial report Thinking about tomorrow, today – there is no better way to summarise the philosophy of acting sustainably. Sustainability is, by defi nition, concerned with the future and focuses on creating and preserving values. Our business, and the insurance business in general, is aimed at preserving value, primarily fi nancial value, which creates security from one generation to the next. For us, acting sustainably is more than just fi nancial statements. Our business activities also take into account future social and environmental trends. This report provides information on our future course of action and the steps already being taken today – in order to create a future worth living. Preface Dear Ladies and Gentlemen, what do you think of when you think of consultation with our stakeholders. For us, responsibility at a number of levels, not just insurance? The answer is simple for us in responsible action begins in our core busi- the level of VIG. Our principal shareholder, Vienna Insurance Group: We think about ness, where we include social and environ- Wiener Städtische Versicherungsverein, tomorrow. We therefore prepared this mental factors in the investment process. also pursues many important initiatives to Sustainability Report under the motto For example, we offer more than 100,000 help disadvantaged people, or promote the “tomorrow”, since the future guides our units of affordable rental housing (p. 19). arts and culture sectors (p. 37). business activities as well as our sustain- This approach continues with our cus- ability activities. Finding a balance between tomers, where we use intelligent product Our 2018 Sustainability Report is the insurance protection, fi nancial stability and design to provide e-mobility and motivate second of its kind that presents develop- sustainability is already a major challenge people to adopt a healthy lifestyle (p. 27). ments that have occurred in the different today, and will become even more of a It also affects our human resources man- core areas since the previous year. challenge tomorrow. agement, where, in accordance with our In follow-up to the materiality analysis core value of diversity, we offer each of our that was performed two years ago, we The insurance industry is by defi nition employees an opportunity to develop. And performed an impact analysis to give us a sustainable: We provide protection today it can also be seen in our conscious efforts clearer view of the impact of our activities. against risks of tomorrow. It is only because to conserve natural resources in recycling This will help us take further targeted steps of insurance companies that fi nancial risks and renaturation projects. And that is not in pursuing our sustainability strategy, can be managed at all, that plans can be all we are doing. We are steadily working with the aim of positioning ourselves as a pursued and implemented with security. to reduce our environmental footprint. And, long-term partner. Insurance companies are also important fi nally, our focus on sustainability is also providers of capital for national economies, shown by our commitment to address I wish you an exciting look into tomorrow. thereby ensuring that the economy and, as long-term challenges, ranging from digital- a result, society, fl ourishes. They therefore isation, nursing care and pension security make an important contribution to modern all the way to climate change. Our efforts to society. reduce both investments and underwriting in the coal sector, while simultaneously At Vienna Insurance Group, however, we increasing our green investments, shows are not satisfi ed with the core element we are consciously addressing the causes of sustainability in insurance companies. of climate change, in connection with our We are actively working to create a future climate change strategy. Elisabeth Stadler worth living. We have been listed in the two General Manager major sustainability indices, VÖNIX and We feel that companies also have a social FTSE4Good, for a long time and our listing responsibility. In the end, a company is was confi rmed again in 2018. We have not simply its core business. It is made up declared sustainability a top priority and of people, who are providing services for have developed a sustainability strategy in society as a whole. We are meeting this Vienna Insurance Group 3 OUR OUR VISION MISSION We want to be the first choice for We stand for stability and our customers. Our stakeholders competence in the field of risk see us as a stable and reliable protection. We use our experience, partner. This enables us to know-how and diversity to move consolidate our position as the closer to our customers. We see it as leading insurance group in Austria, our responsibility to protect the Central and Eastern Europe. values that matter to our customers. OUR OUR VALUES PROMISE Diversity We enable customers to live Customer proximity a safer and better life: Responsibility Protecting what matters. VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe is the leading insurance group in Austria and Central and 25countries Eastern Europe for health, life and non-life insurance. Around 50Group companies Standard & Poor’s has confirmed VIG’s excellent credit rating for years. As a result, VIG has the More than 25,000 employees best rating of all companies in the ATX, the leading index of the EE Vienna Stock Exchange. VIG market position LV THE BALTICS in the CEE countries 1 VIG has been listed on the LT Vienna Stock Exchange since 1994. Its commitment to the Central and Eastern European BY ~70% of the shares are held by the 10 economic area is also PL underscored by the Company’s principal shareholder 4 Wiener Städtische Versicherungsverein DE second listing on the Prague >10 Stock Exchange since CZ February 2008. 1 UA SK 2 AT 1 1 MD ~30% LI HU 2 of the shares are in free float 8 SI 6 RO >10 1 IT >10 HR RS BA 4 4 A detailed description of the business model is 5 BG KOS 1 available in the 2018 Group management report on MNE GE 7 AL MK 2 pages 44, 47, 69, 71 and 73. 2 1 TR >10 As at the 1st–3rd quarters of 2018, not including: HU, PL, LI, IT, DE; 1st half of 2018 Depending on where they were, people in fessionals in the care sector, receive social the centre of Vienna during the summer of recognition. And it teaches the values of 2018 were looking directly into the barrel of inter-cultural relations, solidarity and diversity a machine gun or at an offi ce building on to children in its “Kids Camps”. fi re. Wiener Städtische Versicherungsverein was responsible for this spectacular The philosophy behind the support provided around 70-metre high art installation titled by Wiener Städtische Versicherungsverein “I saw this”. This company is the principal focuses on international bridge building shareholder of the Vienna Insurance Group and cultural exchange. All of the company’s (VIG) and, in addition to acting as an asset activities promote a democratic pluralistic manager, it also provides support to VIG for society. In other words, the goal is to work social and cultural concerns. The artwork across borders and focus on what we have by Gottfried Helnwein, the 11th artist invited in common. to wrap the Ringturm since 2006, was created in celebration of the “100th Anniver- sary of the Republic of Austria” and is one of many examples of the cultural support 24 December provided. In addition to acting as the Group 1824 headquarters for VIG, Wiener Städtische is the offi cial date that Wiener Städtische Versicherung AG and Wiener Städtische Versicherungsverein was established. Versicherungsverein, the latter also uses the striking Ringturm offi ce building on the Schottenring in Vienna for events and exhibitions, such as the “Architecture in the Ringturm” series, which has provided 11 wrappings of the Ringturm building general public access to the architectural heritage of Central and Eastern Europe since 1998. The work of Wiener Städtische Versicherungsverein allows art and culture to meet politics and the past to meet the 63 presence and future. years old – the age of the Ringturm building Building bridges and cultural exchange Wiener Städtische Versicherungsverein provides support to VIG companies for a wide range of charitable initiatives in the social area. Due to him, since 2011 every This logo identifi es Wiener Städtische employee in the Group has been able to Versicherungsverein’s social and use one working day a year to volunteer for cultural initiatives and activities. Some a charitable organisation. Its “Pfl egerIn mit examples are provided on pages 27, Herz” award ensures that all people work- 37, 38 and 39. ing in the area of nursing care in Austria, both those caring for relatives and pro- TOMORROW Contents – Sustainability Report 2018 3 Letter from the Chairwoman of the Managing Board 6 Sustainable actions that work 8 Five priorities for the future – our sustainability strategy 12 “We promote social solidarity”, an interview with General Manager Elisabeth Stadler CORE BUSINESS 14 VIG’s groupwide integration of CSR in its core business directs its activities towards a future worth living. CUSTOMERS 22 VIG offers an integrated advisory approach for a broad range of customer groups. Our range of products and services is also based on ethical, social and environmental requirements. 4 Sustainability Report 2018 3 Letter from the Chairwoman of the Managing Board 6 Sustainable actions that work 8 Five priorities for the future – our sustainability strategy 12 “We promote social solidarity”, an interview with General Manager Elisabeth Stadler EMPLOYEES 28 VIG’s basic value of diversity allows it to attract the right employees and offer them diverse career SOCIETY ENVIRONMENT opportunities.