- GlobalData survey highlights growth in UK consumers purchasing household insurance online
- Digital Risks launches new version of its Quote & Bind (Q&B) journey
- EIOPA requests Insurance Undertakings to provide information in the context of its 4th Long-Term Guarantees Report and the 2020 Solvency II Review
- R&Q US subsidiary enters into another program partnership
- QIC Global to use Sequel’s Impact system to deliver flexibility and functionality in order to capture and aggregate complex cyber exposures
- VIenna pre-tax profit up around 10% for 2018
- LV= announces plans to convert to a company limited by guarantee-2018 profit before tax down due to deteriorating financial markets expired
- LMA CEO states “Sexual harassment is simply indefensible in any workplace and all instances should be dealt with swiftly and appropriately" expired
- Beazley Breach Response Services publishes latest annual report expired
- Royal London CEO Loney bullish after 2018 result expired
- Hansard Global selects Majesco cloud-based solutions expired
- Newslink Global Insurance Trends-The Week expired
15th April 2018
Allianz presents 17th Sustainability Report
In its 17th Sustainability Report, the Allianz Group on Thursday presented the most significant results and key figures for its environmental, social and governance performance in fiscal year 2017. The company leads the prestigious Dow Jones Sustainability Index(DJSI) as best in its sector, and is considered one of the world’s most sustainable insurance companies. A strong record in sustainability counts as a sign of strength for investors, attracts employees who want a socially engaged employer, and serves a growing market in sustainable financial products.
With investments of more than E5.6bn in renewable energy, Allianz remains one of the most important investors in this field. Its portfolio includes 81 wind farms and 7 solar farms in Europe and the US. Its investments in certified green buildings have risen to more than E11bn. In 2017, Allianz’s investment business achieved a milestone: They made it standard practice to include ecological, social and governance criteria, on top of financial considerations, in all insurance premium investment decisions. This so-called ESG-Scoring is applied to all tradable assets. Allianz asset managers Allianz Global Investors and PIMCO also considerably expanded their related ESG approaches.
There was also progress within the insurance business. By investing $96.6m Dollars in the microinsurance provider BIMA, Allianz is furthering its strategy of providing emerging consumers with affordable insurance services. Additionally, in 2017 Allianz offered more than 165 products which significant ecological or social value added, while generating some E1.2bn in revenues.
Allianz’s sustainability activities aim to help build a low-carbon, socially stable society. This contributes to the Sustainable Development Goals(SDGs) of the United Nations, which are widely accepted by international governments and civil society. “Climate change and economic instability are the biggest challenges of the coming decades,” said Oliver Bäte, ceo of Allianz SE. “We have clearly defined our ambition: as a risk expert and an investor with a long-term orientation, we support the transition to a low-carbon economy, and our social projects strengthen disadvantaged young people all over the world.”
The Group invested over E150m for training and development for its employees in 2017. Supporting talented women in leadership positions is reflected in a ratio of more than 37% female managers. Employee satisfaction with corporate culture has risen to 72 out of a possible 100 points (Inclusive Meritocracy Index). Employees also rated their immediate work environment well: health-supporting factors, had improved from the prior year to 66 points (Work Well Index).
Within its citizenship activities, Allianz spent a total of some E20m to assist numerous projects. For example, the second Allianz World Run raised 500,000 Euro for the SOS Children’s Villages. And Allianz expanded its Encouraging Future Generations program, which includes supports startups that help disadvantaged children with innovative business ideas. In total, Allianz employees worldwide contributed 80,000 hours of voluntary work for good causes.
Environmental protection also increased within Allianz business operations. CO2 emissions per employee were down 17% from 2010, and building energy consumption decreased 29%. The company already derives 40% of its worldwide power consumed from renewable energy. Allianz’s sustainability activities also convinced its employees: 78% acknowledged, that their employer is active in environmental protection and social engagement.
Allianz Trends(708 articles)