Corporate Governance - Regulations and Guidelines

Regulations and Guidelines

As a financial services provider, we rely to a great extent on trust. In order to prevent any - however unintentional - reputational damage, clear rules of conduct for all members of the Board of Management, employees and self-employed sales staff are required.

However, it is our common understanding that we do not just wish to comply with legal and regulatory requirements. We feel committed to high ethical standards and principles.

ERGO Codes of Conduct

In order to make our views of an integral corporate conduct transparent, we have defined and laid them down in binding Codes of Conduct. The Code of Conduct for all salaried employees, senior executives and members of the Boards of Management of ERGO Group AG and its German and international subsidiaries provides guidance for legally impeccable behaviour based on ethical principles.

With the Code of Conduct, we express our understanding of value-based management. The Code also includes a procedure to report any contraventions of law in order to be able to immediately act on any possible misconduct.

Code of Conduct for staff, senior executives and management of ERGO and its companies
Download PDF file 

A separate Code of Conduct for the self-employed sales agents of German ERGO companies has been laid down jointly by their representative associations and ERGO. The rules mark the commitment of both ERGO and its sales partners to attach the utmost importance to the quality of business, advice to customers and dealings with each other within their cooperation.

Code of Conduct for self-employed sales agents of German ERGO Companies
Download PDF file 

The ERGO Group signed up to the Code of Conduct for Sales Agents of the German Insurance Association on 1 July 2013, making it one of the first insurers to do so. It concerns all German subsidiaries selling insurance products.

ERGO Guidelines on Incentives

The Guidelines include clear instructions and offer assistance on what to heed when organising incentive trips and events in order to ensure that incentives are in accordance with ERGO's guiding principles and the Company's objectives.
The Guidelines are addressed to all members of the Boards and salaried in-house and field staff of ERGO Versicherungsgruppe AG and its affiliated companies in Germany and internationally. The text explicitly states if and when self-employed sales agents are addressed, too.

The Guidelines substantiate the ERGO Codes of Conduct and includes mandatory rules on selecting, planning and organising incentives and incentive events.

Guidelines on Incentives (PDF file) 

ERGO Anti-Fraud-Management Directive

Companies throughout the world increasingly have to contend with the threat of fraud. It can take many forms, ranging from straight loss of assets (e.g. due to theft, fraud or embezzlement) to corruption (e.g. bribery) and manipulation of accounts (e.g. deliberate understatement of reserves). The risk of falling victim to fraud increases with a company’s size and the complexity of its organisation, processes, systems and products. The financial loss for a company can be considerable, and the consequences for its reputation devastating.

Total protection against crime is not possible, but much can be done to reduce the risk. In ERGO’s Code of Conduct, the Board of Management sets out the main rules and principles for lawful and responsible behaviour by legal representatives, managers and all other employees. As a complement to the Code of Conduct, the Anti-Fraud-Management Directive lays down rules and principles aimed at ensuring that ERGO Group companies have appropriate and effective systems in place for preventing, detecting and reacting to fraudulent activity.

Anti-Fraud-Management Directive (PDF file)

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