Gothaer Versicherungsbank VVaG (GVB)

Germany
Europe

http://www.gothaer.de/

Industry:Insurance
Date joined:18 May, 2021
Initiatives:Principles for Sustainable Insurance

For more than 200 years, Gothaer has lived the spirit of mutuality and consistently brought innovation to the insurance industry. ln 1820, Ernst Wilhelm Arnoldi founded the Gothaer Feuer-Versicherungs-Bank. He thus put into practice the idea of mutual assistance: the community bears the burden of the individual. ln 2001, the four insurance companies Gothaer Finanzholding AG, Gothaer Allgemeine, Gothaer Leben and Gothaer Kranken merged to form the mutual Gothaer Versicherungsbank WaG. Today, Gothaer is a strong, broadly diversified insurance group.

Gothaer’s sustainability management activities already support many elements of the PSI principles. Gothaer has already integrated ESG issues into its strategic and operational decision-making processes. This applies to their corporate strategy as well as to their investment management (Principle 1). Sustainability has a long history at Gothaer. Gothaer was the first mover in the industry to insure wind turbines, back in 1995. Today every third wind turbine in Germany is insured by Gothaer. Gothaer Asset Management AG has been investing in renewable energies since 2013 – already one billion euros in 2018. ln 2018, they adopted their ESG concept for corporate bonds and equities. Since 2019, their sustainability management has been part of the Group strategy. The years 2020/2021 will also be marked by a wide range of sustainability initiatives at and by Gothaer.

Gothaer’s goal is to increasingly offer products and services that reduce risks, positively influence ESG issues and optimise risk management. Therefore Gothaer has already started to reach out not only to internal but also to external stakeholders to draw their attention to the ESG focus areas in order to jointly find solutions to the challenges of their time (Principle 2 and 3). Gothaer fully supports PSI Principle 4. They intend to assess, measure and monitor their progress in addressing ESG issues and will proactively and regularly disclose this information publicly. Therefore they will publish their first sustainability report in Q3 2021.