Annual Sustainability Report 2019

Allianz is one of the strongest financial communities in the world. The company provides employment for over 147,000 people. Some 100 million customers in more than 70 markets rely on our insurance products and funds for their financial wellbeing. In 2019, our income tax contribution around the world was 2.8 billion Euros, thereby enabling public spending in education, housing, medical care, etc.

By the very nature of what we do - protecting people and businesses against risk - we contribute to our customers’ long-term financial wellbeing and to stabilizing local economies. Insurance is one of the key ways by which we limit the impacts of climate risks and compensate for climate-related damages. The higher the level of insurance coverage a country has, the more resilient it is to extreme natural events. Furthermore, following an extreme weather event such as a flood or hurricane, insurance payments are often a fast and reliable solution to help victims recover quickly, preventing them from falling into, or deeper into, poverty.

In the 2019 report, Allianz is focusing on its commitment to long-term climate protection – both through the company’s business activities as an insurer and investor and its corporate operations. Like in previous years, the report gives you an overview of a wide array of topics: from how ESG risks and opportunities in the business are managed, to offering sustainable solutions, protection of customers, development of people and engagement in the community.

In structuring this report, Allianz focuses on how the company governs sustainability strategically and how it is integrated across its business activities and corporate operations. New discussions of Allianz’s approach to cyber risk insurance, natural catastrophe insurance and data privacy and protection are added.

The main value of the company’s solidarity and cooperation is invested in its name – Allianz, which translated from German means “union”. In its strategy for the environment, social policy and governance, the organization works closely not only with employees, agents and customers but also with government and social organizations. This spirit of cooperation is reflected in the title of the report – “Collaborating for a Sustainable Future”.