Allianz Group recognised as world’s most ethical insurance company

Sydney, 3 July 2008

The Allianz Group has been added to the second annual "World's Most Ethical Companies" list compiled by Ethisphere. The Ethisphere Institute is a think-tank dedicated to the research and promotion of profitable best practices in global governance, business ethics, compliance and corporate responsibility. In the institute's second annual "World's Most Ethical Companies" list, Allianz has been recognized as the "Most Ethical Insurance Company".

Nicholas Scofield, General Manager Corporate Affairs, said “Allianz is honoured to have been recognised as one of the most ethical companies in the world and, in particular, as the Most Ethical Insurance Company”.

Alexander Brigham, executive director of Ethisphere Institute, said "we applaud Allianz. The Allianz Group is among the companies honoured this year because they have developed impressive and meaningful ethical business practices, making them true standouts within their industry."

“They go well beyond legal minimums, opting instead to bring about innovative ideas that contribute to the public well being. By their actions, they are forcing their competitors to follow suit (or fall behind) and truly embodying the notion that ethical business practices are more profitable in the long run."

To determine the more than 100 finalists, researchers and analysts reviewed over 10,000 of the world’s leading companies on six continents. Ethisphere analysts reviewed codes of ethics, litigation and regulatory infraction histories; evaluated investment in innovation and sustainable business practices; looked at companies’ activities to improve corporate citizenship; studied nominations from senior executives, industry peers, suppliers and customers; and worked with consumer action groups for feedback and rating.

The 2008 World's Most Ethical Companies methodology committee is comprised of leading attorneys and government officials, professors and leaders who care about ethical and honest business practices.

Mr Scofield said, “For Allianz, being in business is more than just about delivering high quality and competitive products and services, it is also about being a force for good in the communities in which we operate and society generally.”

“This is why Allianz takes a global leadership position in terms of social responsibility through initiatives such as microinsurance in developing countries, partnering with the International Paralympic Committee, climate change (eg the United Nations Environment Program Finance Initiative) and the Allianz Knowledge Initiative.”

“In Australia, Allianz and its staff our proud to support charities like Open Family Australia, Camp Quality, The Smith Family, Cure Cancer Australia, The Salvation Army, Assistance Dogs and the RSPCA, and in New Zealand, the Breast Cancer Foundation.”

“Allianz’s commitment to ethics and ethical conduct by our employees is the foundation stone of the way we operate in our business relationships, community partnerships and our social engagement more generally.”

Media enquiries

Nicholas Scofield
Allianz Australia Ltd
Ph. 02 9390 6596
0416 088 414

Allianz Australia

Best General Insurance Company 2006*
Best General Insurance Company 2007*

The Allianz Australia Group operates in Australia and New Zealand. It is one of Australia’s largest general insurers, a leading private workers’ compensation insurer, and also provides life insurance.

Allianz Australia delivers a wide range of personal, commercial and corporate insurance products and services. AAL is proud to be of service to more than 2 million policy holders and over 50% of Australia’s top 200 BRW listed companies have some form of insurance cover with the group.

Allianz Australia offers a wide range of insurance products and services including car insurance, home insurance and Life insurance.

Allianz Australia has approximately 3300 staff. In 2007, the company achieved a gross written premium exceeding AU$2.4 billion and investment assets of approximately AU$5.5 billion. Allianz Australia Group is a wholly owned subsidiary of the worldwide Allianz Group, one of the world’s largest financial services companies.
Greenhouse Challenge Plus
Allianz’s commitment to social, environmental and economic sustainability has been acknowledged ‎internationally by the Dow Jones Sustainability Index, which recognised Allianz as the most ‎sustainable general insurer in the world in 2007. In Australia, Allianz is a member of the Greenhouse ‎Challenge Plus program, which is a cooperative partnership between industry and the Australian ‎Government that aims to reduce greenhouse gas emissions.‎

*Australian Banking and Finance Insurance Awards

Ethisphere Institute

Ethisphere The research-based Ethisphere Institute and associated membership group, the Ethisphere Council, ‎are supported by more than 100 institutions and corporations, including Thomson West, the Practicing Law Institute, the National Association of Corporate Directors, the Global Reporting Initiative, Corpedia ‎and dozens of others. The Institute is dedicated to the research, creation, and sharing of best ‎practices in ethics, compliance, and corporate governance among its membership companies.‎