Climate Change Data

Environmental Metrics

ESG Focus Areas

• Sustainability

Environmental Achievements

• New property and casualty insurance tariffs for residential buildings and household contents include sustainable aspects; reimbursement of additional costs for ecological/energetic restoration of buildings after damage.
• FOCUS-MONEY awarded Württembergische Versicherung AG the “Fairest Homeowners Insurance” seal of quality for sustainability and ecology.

Social Achievements

• Reached the target quota for the proportion of women on the Supervisory Board (one-third) and on the Management Board (at least one woman).
• Implemented various communication measures and formats on diversity, including participation in German Diversity Day and a workshop on unconscious bias.
• Offered career counseling and coaching, and the established women's network FiT (“Women in Top Positions”) held regular events.
• Achieved first place in the “Best Customer Service” study by Service Value GmbH and first place in customer satisfaction in the B2B sector.

Governance Achievements

• Established anti-corruption training for all employees (implied).
• Regular reporting on risk situation to the Supervisory Board.
• Compliance with Solvency II reporting requirements.

Climate Goals & Targets

Environmental Challenges

• High inflation and rising interest rates.
• Geopolitical uncertainties (Ukraine war).
• Supply chain disruptions.
• Cybersecurity threats.
• Energy crisis.
• Inflation-related increase in claims expenses.

Mitigation Strategies

• Risk management system in place to identify, assess, manage, and mitigate risks.
• Diversified investments to limit risks.
• Risk mitigation measures for interest rate changes.
• Measures to strengthen information security, including a Cyber Resilience Center.
• Establishment of a “Energy” task force to coordinate measures to ensure operational supply security.
• Cautious pricing and defensive reserving policy.
• Contribution adjustments to compensate for higher claims expenses.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Natural catastrophes

Opportunities

• Investments in renewable energies

Reporting Standards

Frameworks Used: Principles for Sustainable Insurance (PSI), Principles for Responsible Investment (PRI)

Sustainable Products & Innovation

• New property and casualty insurance tariffs with sustainable aspects

Awards & Recognition

• FOCUS-MONEY “Fairest Homeowners Insurance”, FOCUS-MONEY “Fairest Company Insurer” (six times in a row), Adam Riese received the Marketing High Performer Award

Environmental Metrics

ESG Focus Areas

• Customer and Product
• Capital Investments and Refinancing
• Own Operations
• Employees
• Society
• Organization

Environmental Achievements

• Increased investments in Green/Sustainable Bonds to 830 (PY 782) Mio € and Sustainability-Linked Bonds to 30 (PY 19) Mio €.
• Striving for climate-neutral capital investment (primarily in equities and corporate bonds) by 2050.

Social Achievements

• Implementation of 'W&W Besser!' initiative focusing on customer and employee satisfaction, market growth, and cost reduction.
• Successful relocation to the new W&W campus in Kornwestheim, providing modern workplaces and flexible working options.

Governance Achievements

• Board and executive compensation linked to ESG (details not explicitly provided, but implied through ESG strategy integration).
• Adherence to regulatory requirements, including Solvency II and the Financial Conglomerates Directive.

Climate Goals & Targets

Environmental Challenges

• High inflation and increased interest rate and price levels.
• Economic uncertainty and volatile interest rates.
• Increasing regulatory requirements.
• Competition from banks offering attractive certificates.
• Geopolitical uncertainties and their impact on capital markets.
• Cybersecurity risks.

Mitigation Strategies

• Safety-oriented investment policy.
• Diversification of investments across asset classes, sectors, regions, and investment styles.
• Active duration management of bond portfolios.
• Hedging strategies for equity and interest rate risks.
• ESG criteria integration into investment processes.
• Implementation of cash pooling within the W&W Group.
• Strict cost management.
• Continuous development and improvement of risk management systems.
• Measures to proactively manage cybersecurity risks.

Supply Chain Management

Climate-Related Risks & Opportunities

Transition Risks

• Abruptly increased climate change mitigation efforts by politics.

Opportunities

• Investments in renewable energy and green bonds.

Reporting Standards

Frameworks Used: Principles for Sustainable Insurance (PSI), Principles for Responsible Investment (PRI)

Sustainable Products & Innovation

• Genius ProZukunft, a sustainable version of the Genius pension insurance product.