Allianz SE



Diversified Insurance



Koeniginstrasse 28 80802 Munich, Germany
Phone: +49 89 380 00
e-mail: –



  • Dow Jones Sustainability Index
  • 2018 Bloomberg Gender Equality Index
  • A+ Ratings from the Principles for Responsible Investment.
  • AAA Rating form the MSCI ESG Research Rating




Urs Bitterling


  • 2017 Human Rights Business Award
  • 2017 Cross-Cultural Management Award 
  • Finalist in the 2017 Business Inclusion Award
  • 2020 SAM’s Gold Class Award
  • Allianz Life USA won the 2019 Wellness by Design platinum award.
  • Allianz Indonesia won the Indonesia Most Admired Companies Award 2019: Dream Workplace for Millennials.



Report created by Muge Acar

Company Title

SECTIONS :  Sustainability    Evaluation  •  Progress  •  Watch  •  Overview

Company Activity

Allianz offers a wide range of insurance and fund products to 92 million customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance.

Allianz SE engages in the provision of insurance and investment advisory services. Allianz is one of the world’s largest investors, managing around 764 billion euros on behalf of its insurance customers. Furthermore, their asset managers PIMCO and Allianz Global Investors manage more than 1.6 trillion euros of third-party assets. 

The company operates through following segments:

  • The Property-Casualty segment offers insurance on personal accidents, general liability, fire, legal expense, credit, and travel.
  • The Life/Health segment consists of annuities; endowment and term insurance; unit-linked and investment-oriented products; private and supplemental health; and long-term care insurance.
  • The Asset Management segment provides institutional and retail asset management products and services.
  • The Corporate and Other segment includes treasury, banking, and alternative investment activities.

Company Sustainability Activity

By the very nature of what Allianz does, protecting people and businesses against risk, the company contributes to its customers’ long-term financial well-being and to stabilizing local economies.

Insurance is one of the key ways by which it limits the impacts of climate risks and compensate for climate-related damages.

According to Olivar Bate, Chairman of the Board of Management, Allianz SE, “Climate change generates enormous economic and social risks. It is already harming millions of people today.

As a leading insurer and investor, Allianz wants to promote the transition to a climate-friendly economy.” The higher the level of insurance coverage a country has, the more resilient it is 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. 


  • Allianz had Netzero asset owner alliance commitment to reduce investment portfolio greenhouse gas (GHG) emissions to net-zero by 2050
  • Allianz had 1.95GW generating capacity from 99 wind and solar investments
  • Allianz listed their equity portfolio for carbon footprint disclosed for the first time in 2019.
  • Alianz spent €29.4 bn in sustainable investments, up 17% on last year, in 2019
  • Alianz came up with 203 sustainable solutions generating revenues totaling €1.33 bn
  • In 2019, 37.9% of managers in the core business of Alilianz were female
  • Allianz was listed as No. 1 insurer in the Dow Jones Sustainability Index for the third consecutive year
  • Alianz was listed as No. 1 insurer in the 2019 Interbrand Best Global Brand Rankings
  • Allianz had 35% overall GHG emissions reduction per employee since 2010 against a 2020 target of -30%
  • Alianz had 53% paper reduction since 2014 against a 2020 target of -40%



  • Have a net-zero carbon emission by 2050 as part of the Paris Climate Agreement.
  • Commit to fully phase-out coal-based business models across its proprietary investments and P&C insurance portfolios by 2040.
  • Allianz is committed to minimizing the environmental impacts of its business operations and is actively pursuing its commitment to source 100% renewable power for its group-wide operations by 2023.
  • Allianz’s target is to reduce energy consumption in its office buildings per employee by 30% by 2020, compared with 2010.


  • Within its corporate citizenship activities, the Encouraging Future Generations Program is Allianz’s global lighthouse program. It includes an ambition to increase the number of children and youth benefited by 20% by 2020 (baseline 2018).
  • Allianz’s target is to reach an Inclusive Meritocracy Index score of 73% by 2021.
  • To prepare their workforce for the future, Allianz is expanding its strategic workforce planning program across all operating entities. By the end of 2019, it covered around 32% of the global Allianz workforce and this will increase to 60% by the end of 2020 and 80% by the end of 2021. 


  • The threshold of  utilities and mining companies involved in coal (above threshold 30+% generation from coal, 30+% revenues from thermal coal mining) will be gradually reduced to zero by 2040.



  • Allianz stopped financing coal-based business models and no longer provides insurance for the construction and/or operation of single coal-fired power plants or coal mines. 
  • Allianz joined forces with other asset owners through the U.N.-convened Net-Zero Asset Owner Alliance (AOA) to collaboratively support companies in their low-carbon transition.
  • By the end of 2019, the AOA included 16 asset owners from across the globe, who are collectively responsible for more than 3.8 trillion U.S. dollars of assets under management.  
  • In 2019, Allianz continued to scale renewable energy insurance services in fast-developing growth markets through the ‘Scaling Up Renewable Energy’ (SURE) initiative.
  • By the end of 2019, GHG emission had been reduced by 35% per employee.
  • Allianz exceeded their 2020 target of reducing their energy consumption, with a 37% cut in 2019 
  • In 2019, 49% of the electricity Allianz used came from renewable, low-carbon sources.
  • Allianz U.S. Life in North America switched to renewable electricity from local wind farms and all data centers in the U.S. and Europe are now powered by 100% renewable energy.
  • Business travel in 2019 accounted for 37% of GHG emissions from operations.
  • Allianz encourages its employees to travel only for business-critical reasons and for client-related meetings exceeding three hours. 
  • Allianz has been carbon-neutral since 2012 by investing in projects that offset its operational emissions. In 2019, they retired 334,033 carbon credits by investing in low-carbon initiatives, each credit accounting for one metric ton of carbon. 
  • By the end of 2019, Allianz had achieved a reduction of paper by 53% (2018: 41%), putting them well on track to achieve the 2020 target.
  • Because Allianz’s water consumption is not a significant driver of their environmental impact, they do not have a specific water reduction target. However, they work to reduce water consumption in Allianz offices through employee awareness campaigns and by investing in waterless facilities and other water-efficient technologies.
  • Allianz seek to minimize the waste they generate and to reuse or recycle materials wherever possible (see Table ENV–8). Allianz employees also actively support local clean up activities.
  • They partnered with World Cleanup Day in 2019. Over 20 Allianz entities took part in the campaign, which encourages employees, customers and the general public to unite to clean up their local environment.
  • Allianz’s strategic data centers now use certified renewable electricity. They consolidate facility space where opportunities exist and substitute LEDs for traditional light bulbs, reducing energy consumption. 


  • Through their activities with Encouraging Future Generation Program in 2019 Allianz reached 660,000 beneficiaries worldwide, including 290,000 children and youth 
  • Allianz finances African infrastructure projects by investing into the Emerging Africa Infrastructure Fund (EAIF). They are providing financing of 75 million Euro and 25 million U.S. dollars, both over 12 years, as EAIF’s first insurance-investor.
  • On behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), KfW Development Bank and Allianz Global Investors have set up a new fund of funds – AfricaGrow.
  •  In 2019, Allianz met their Inclusive Meritocracy Index target, scoring 73%, up from 68% in 2015 and 71% in 2018. 
  • Allianz encourages inclusivity in the world of sport and has partnered with the International Paralympic Committee (IPC) since 2006
  •  The number of women in Allianz Boards has increased to 31% and also the 2021 global talent pool target has already been reached.
  • The Allianz Leadership Development Program is a group-wide program for experienced leaders that provides participants with development support for their next career step to a senior executive role in the near future. Over the past three years 91 of their high potential leaders have completed this program of whom 42% were women. In 2019, it was completed by 31 new leaders, 54% thereof were women.
  • In 2019, they have offers for flexible working in terms of location and hours, including part-time jobs at all levels, to help employees manage work-related stress and work-life balance. For instance, Allianz Italy has set up the concept of smart work, enabling employees to work up to 50% of their working time from home. 
  • Introduced in 2015, the Work Well index (WWi) is how Allianz tracks progress. It is a scientifically-validated tool that measures work-related psychosocial stress based on ten equally weighted metrics. 
  • The E.U. General Data Protection Regulation (GDPR), which became effective on 25 May 2018, has increased attention on the manner in which companies comply with data protection requirements. Companies that have been found to be deficient with respect to their data privacy practices have been fined, in some cases significant amounts, which has a direct financial impact.
  • Allianz contributes to social inclusion through its Corporate Citizenship programs. Furthermore, through its 13 foundations around the world, Allianz contributes to a wide range of philanthropic activities.
  • Allianz’s Encouraging Future Generations Program (launched in 2016,) aims to address social inequality impacting children and young people. In 2018, Allianz committed to increase its reach to children and youths by 20% by 2020 (baseline 2018) through the Corporate Citizenship Program.


  • In 2017, The Allianz Social Innovation Fund was launched to enable innovation in local corporate citizenship partnerships. Since then, the fund has provided 0.5 million Euro to projects in over 20 countries. 
  • Allianz launched its long-term partnership with SOS Children’s Villages International (SOS CVI) in 2015. The purpose of the partnership is to reduce the impacts of natural and human made disasters and increase the resilience of children and young people by focusing on two key areas: emergency preparedness and response and youth employability. In 2019, they further increased their joint reach to children and youth through eight additional partnerships, six in new countries: Burkina Faso, Hungary, Brazil, Sri Lanka, Ivory Coast and Morocco. These include 4 YouthCan! partnerships, which aim to further strengthen their contribution to youth development and employ.
  • In 2019, the fourth Allianz World Run took place. It is an annual employee engagement and fundraising event with SOS Children’s Villages as the charity partner. An impressive 12,313 runners from 98 countries clocked up more than 1.6 million km, the equivalent of running 40.97 times around the globe, making it the most successful run to date.


  • Allianz regularly carry out materiality assessments to identify the environmental, social, economic and governance issues that are perceived as being most important to Allianz’s stakeholders and its businesses.
  • Allianz is an expert in insuring customers against the impacts of natural catastrophes. Experts at Allianz Reinsurance (Allianz Re) – including meteorologists, hydrologists, geophysicists, geographers and mathematicians – model around 50 natural catastrophe (Nat Cat) scenarios for Allianz Group, with data captured using best-in-class standards
  • In summer 2019, Allianz teamed up with emerging market insurtech leader, BIMA, and German development agency, GIZ, to grow small-ticket mobile insurance in a sustainable way. In 2019, Allianz solidified its systematic approach to engaging investee companies on ESG topic.
  • Allianz is an active member of Climate Action 100+. More than 370 investors representing more than 35 trillion U.S. dollars in assets under management have signed on to the initiative. Its purpose is to engage with the world’s largest corporate GHG gas emitters to set GHG emission reduction targets, strengthen climate-related financial disclosures and improve governance on climate change
  • At the end of 2019, Allianz’s investments in sustainability-themed assets totaled 29.4 billion Euro
  • Allianz introduced an exclusion of coal-based business models in 2015. No new investments have been allowed, equity stakes have been divested and fixed income investments made before 2015 are in run-off. This approach was further refined through the forward-looking approach in 2018.
  • Allianz Real Estate (ARE) is Allianz Group’s dedicated investment and asset manager for real estate. It develops and executes tailored investment strategies, focusing on direct and indirect equity worldwide and commercial real estate loans in Europe and the U.S. ARE invests 14.6 billion Euro in certified green buildings around the world, including both equity and debt investments. As a whole, the real estate sector accounts for nearly 40% of energy-related CO2 emissions globally
  • AllianzGI is also a founding member and an active participant in the Climate Finance Leadership Initiative. In September 2019, it was tasked by the U.N. to present its recommendations on how the mobilization and deployment of private sector capital can help to meet the goals of the Paris Agreement. In 2019, AllianzGI joined Allianz SE and many other companies in supporting the recommendations of the TCFD. 
  • In 2019, Allianz generated revenues totaling 1.33 billion Euro from 203 sustainable solutions. They included 97 sustainable insurance solutions, 28 emerging consumer solutions , 35 insurance solutions with a sustainability component and 43 sustainable asset management solutions.
  • Alliance holds a 10% share in WWC (Wildlife Works Carbon LLC), the world’s leading developer of Reducing Emissions from Deforestation and Forest Degradation (REDD) projects.
  • Allianz began investing in this REDD project in Borneo, Indonesia, in 2013. By helping to prevent the deforestation of nearly 65,000 hectares of peat swamp forest, the world’s largest project of its kind aims to avoid more than 130 million tons of carbon emissions.


  • Allianz requires all suppliers above a certain spend threshold to meet the standards set out in the Allianz Vendor Code of Conduct and procurement policies1 . Standards are aligned with International Labor Organization (ILO) standards including avoidance of modern slavery, human rights, non-discrimination, environmental protection and sustainability in the supply chain, and the U.N. Global Compact (UNGC).
  • In 2019, 97% of global suppliers, representing a total spend of 1.8 billion Euro, committed to the Allianz Vendor Code of Conduct.


  • ISO 14001
  • ISO 20400
  • ISO 9001

UN Sustainable Development Goals

UN SDGs Compliance


  • Allianz contributes to their customers’ long-term financial wellbeing and helps stabilize local economies, with a key focus on emerging consumers. In the context of ESG integration, Allianz places a key focus on improving social inclusion. Allianz is committed to closing the protection gap for more people and providing access to affordable financial services that are tailored to their needs.


  • Allianz has group-wide gender parity in its workforce. It continues to drive change to reflect this at management level taking deliberate actions to support future female leaders world-wide. 
  • 51% Women in the workforce (2018: 51.2%)
  • 31% Women on Boards of Management (Target 2021: 25%)
  • 38% Female managers in the core business (2018: 37.8%)
  • 20% Women on the Allianz SE Board of Management (Target 2021: 30%)
  • 40% Women in talent pools (Target 2021: 40%)
  • 33% Allianz SE Supervisory Board status for diversity (On-going Target: 30%)


  • Allianz actively supports the transition to a global low-carbon economy and provides sustainable solutions for their customers, including insurance solutions that support renewables and energy efficiency around the world. 


  • As one of the world’s largest financial services providers, enabling sustainable economic growth is fundamental to Allianz’s core business and underpins their entire contribution to delivering the SDGs. With 13 foundations around the world, Allianz contributes to a wide range of philanthropic activities

SDG 13

  • Allianz constantly works to identify and manage risks and opportunities resulting from climate change. they anticipate the risks as an investor, and they protect and care for their customers through their insurance products, while using their assets and insurance expertise to enable the transition to a low-carbon economy. Allianz is an active member of Climate Action 100+. More than 370 investors representing more than 35 trillion U.S. dollars in assets under management have signed on to the initiative. Its purpose is to engage with the world’s largest corporate GHG gas emitters to set GHG emission reduction targets, strengthen climate-related financial disclosures and improve governance on climate change.

Secondary SDGs: 2, 3, 4, 6, 10, 11, 12, 14, 16, 17


Allianz is dedicated to incorporating sustainability throughout their business model. As an insurance firm, Allianz is proud to limit the impacts of climate risks and compensate for climate-related damages.

In addition to their sustainability initiatives, Allianz holds some certificates, and several listings and awards. Listings include the Dow Jones Sustainability Index and MSCI. The company also complies with the UN Sustainable Development goals. 

Allianz has been rated a B.

Analyst Outlook: Neutral

Allianz’s sustainability targets are very broad: for instance, they plan to phase-out all coal-based business models from their P&C insurance portfolios by 2040 at the latest.

According to their ESG data and the revenues from sustainable solutions, the sustainability-themes investments and the renewable energy investments are all on the rise ever since the 2016 baseline.

Key Points

  • Allianz being listed as No. 1 insurer in the Dow Jones Sustainability Index for the third consecutive year shows how dedicated they are to their sustainability activities. Their other rewards in the field also prove this point further.
  • It is important to note that they still have a lot of goals to be accomplished and their reports in the coming years will show how they will progress.
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