Our governance
Building trust with good governance and integrity
A culture of integrity and good governance provide the foundation for trust. For this reason, we have strict ethical rules in place, we take measures to prevent corruption and bribery, and data security and cybersecurity are top priorities. This enables us to protect our customers, employees and partners.
The following are some of the measures we have implemented to ensure integrity:
- the Achmea General Code of Conduct, mandatory for all employees;
- a Whistleblower Policy;
- the mandatory oath or promise for the financial sector (for Dutch Employees).
We also have an Integrity and Fraud Policy that identifies and prevents risks relating to matters such as corruption, gifts and conflicts of interest. The implementation of the systematic integrity risk analysis (SIRA) is also incorporated into this.
The Ethics Committee advises on complex ethical issues such as digitisation, social care needs or socially responsible investment and discusses individual, confidential cases.
We are committed to reliable data security and cybersecurity aimed at protecting sensitive information and creating a secure environment that meets regulatory requirements. This helps to build the trust our customers and other stakeholders have in us, and contributes to confidence in our organisation and the financial sector as a whole. We regard data security and cybersecurity as an important prerequisite for privacy.
Leadership and remuneration
Environment
- A 58% reduction in carbon emissions associated with own business operations compared to 2019
- A 32% reduction in carbon emissions associated with investment and mortgage portfolio compared to 2020
- Realisation of 10% impact investments in own risk portfolio
Social
- Customer satisfaction (rNPS) at least equal to the market average
- Eight of the 11 Sustainable Living. Together. social impact programmes on track
Governance
- Increased gender diversity: 35% women in senior management
Sustainability at Achmea
At Achmea, the Sustainability department provides direction for our sustainability strategy and policies. It advises the Executive Board and supports all business units in implementation. This department also coordinates stakeholder dialogues, our ESG reporting (Environmental, Social & Governance), and external assessments. In addition, the Sustainability department represents Achmea in (inter)national networks, such as the UN’s UNEP Finance Initiative and the Dutch Association of Insurers.
Sustainability Committee
Achmea has a Sustainability Committee that brings together members of the Executive Board and directors. The committee ensures proper alignment on sustainability themes that span across divisions and advises the Executive Board on establishing our ESG strategy, policies, and related plans. In this way, we ensure that our ambitions, guidelines, and working methods are applied consistently within Achmea.
Implementation in the organization
Each entity and business unit is responsible for implementing its own sustainability strategy and ambitions, in line with Achmea-wide policies.
Responsible taxpayer
Given our background and societal role, we are intrinsically motivated to be a responsible taxpayer. Specifically, we file all returns in a timely, correct and complete manner, and pay the tax due on time.
As a responsible taxpayer, we apply the relevant tax laws and regulations in all the countries in which we operate, and we bear in mind the purpose and intent of these rules. The commercial reality of a transaction is the basic principle: profit is taxed where the profitable activity takes place. We also take into account overarching international regulations, such as OECD and EU guidelines. We do not make use of structures whose main purpose is to reduce the effective tax rate. In other words, we do not operate in jurisdictions because they either have a favourable tax regime or do not exchange tax information.
Because we believe in the importance of openness and transparency with respect to taxes, we publish information on this in accordance with relevant national regulations, as well as applicable reporting requirements and standards, such as EU-IFRS, Solvency II and GRI 207.