Allianz is a German insurance services firm that offers a wide range of products. The company operates through four segments: Property & Casualty Insurance, Life & Health Insurance, Asset Management and Corporate & Other. Allianz serves over 85 million customers in more than 70 countries. The company has approximately 142,000 employees.
Allianz has a long-standing commitment to operating sustainably and responsibly. The company serves over 50 million low-income customers and small businesses with its microinsurance offerings and annually assesses hundreds of major insurance and investment transactions for ESG risks. As a signatory to the Principles for Sustainable Insurance, Allianz has more than 150 products providing “green solutions” for its customers and has invested roughly $2.5 billion in renewable energy. The company has also divested from coal producers and incorporates other ESG factors into its investing practices as part of its commitment to the Principles for Responsible Investment. Allianz is increasing its share of women in the workforce and strives to improve diversity at its executive levels. Additionally, the company invests nearly $100 million in employee training and advancement efforts each year. To reduce its footprint from operations, Allianz has decreased its CO2 emissions per employee by 43%, energy consumption per employee by 26% and now sources 43% of its power from renewable resources. The company supports its communities by giving its time, skills and money. In a recent year, Allianz donated more than $25 million to nonprofit organizations.
Allianz has been criticized for its association with companies conducting hydropower projects in the Brazilian Amazon. Additionally, subsidiaries of the company have been targeted in class action lawsuits regarding irresponsible business practices.
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 12/31/16 and may not reflect current opinions or subsequent events.