About AGCSFinancialsESG
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We were delighted to have this opportunity to meet with you and to hear first hand the South East Water story, where you are presently and moving forward as a business. Allianz has been your insurer on the Liability side for a number of years and we are keen to continue and grow our relationship with you over the months and years ahead. Our vision hopefully aligns with yours where we want to create insurance solutions for our customers which consider a number of areas highlighted in your core six values.

As briefly touched on please find below a snapshot of Allianz, our financial results and our position on ESG.

We look forward to working with you and Marsh and would welcome any additional questions or comments you may have

Danny Turner ACII
Key Account Manager

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About Allianz

Allianz Group at a glance

  • With around 150,000 employees worldwide, the Allianz Group serves over 100 mn customers in more than 70 countries.
  • On the insurance side, Allianz is the market leader in the German market and has a strong international presence.
  • In fiscal year 2020 the Allianz Group achieved total revenues of approximately 140 bn euros.
  • Allianz is one of the world‘s largest asset managers, with third-party assets of 1,712 bn euros under management at year end 2019.
Allianz world Map

Did you know?

Allianz is the Worldwide Insurance Partner of the Olympic & Paralympic Movements from 2021-2028

Allianz insures major Hollywood and Bollywood movies, including all 24 James Bond productions

Allianz supports sustainable motor sports by being a partner of the fully electric car racing Formula E Championship

Allianz offers financial solutions to more than 49 million emerging consumers in Africa, Asia and Latin America

Allianz is the leading specialist in space insurance and celebrated its 100th birthday as aviation insurer in 2015

Allianz insured the last three buildings to hold the title of “world’s tallest”: Petronas Towers, Taipei 101 & Burj Khalifa

the Allianz Center for Technology has conducted thousands of crash test since 1980 to improve road safety

Allianz was one of the insurers of the Titanic

Allianz Results

Allianz Group 12M 2022

€152.7b
Total revenues increased 2.8% to €152.7 billion (12M 2021: €148.5 billion), largely driven by the Property-Casualty business segment.
€14.2b
Operating profit jumped 5.7% to €14.2 billion (12M 2021: €13.4 billion).
201%
Group Solvency II capitalization ratio was 201% at the end of the fourth quarter 2022, compared with 199% at the end of the third quarter 2022.

AGCS 12M 2022

€11.169b
Gross premium written (GPW) of AGCS grew year-on-year by €1.683 billion (18%) to €11.169 billion (2021: €9.486 billion).
94.9%
The combined ratio for 2022 is 2.5%-p better than prior year and stands at 94.9% (2021: 97.5%).
€655
The operating profit for 2022 of €655 million (2021: €366 million) is €289 million better than prior year.

Allianz Commercial Commentary

  • In 2022, gross premium written (GPW) of AGCS grew year-on-year by €1.683 billion (18%) to €11.169 billion (2021: €9.486 billion), driven by a higher renewals base, higher rates on renewals (11% on average incl. adjustment of terms and conditions), new business as well as favorable foreign exchange effects. Most lines of business achieved business growth, especially Property, Financial Lines, Energy & Construction and MidCorporate.
  • The combined ratio for 2022 is 2.5%-p better than prior year and stands at 94.9% (2021: 97.5%). This improvement is driven by a favorable contribution from both expense ratio and current accident year loss ratio across all loss segments due to portfolio improvements and lower claims activity for natural catastrophes. The excellent underwriting performance allowed for an appropriate build-up of reserves, mainly to address inflationary risks.
  • The operating profit for 2022 of €655 million (2021: €366 million) is €289 million better than prior year due to both better underwriting performance and investment result.

Allianz Ratings

Allianz Commercial company
Standard & Poor's
A. M. Best
Allianz Commercial SE
AA (December 2022)
A+ (June 2022)
Allianz Commercial North America
AA (December 2022)
A+ (June 2022)
Allianz Risk Transfer AG*
AA- (December 2022)
A+ (June 2022)
Allianz Fire & Marine Insurance (Japan) Ltd.
AA (December 2022)
(N/A)
Allianz Commercial Resseguros Brasil S.A. (global)
(N/A)
A+ (June 2022)
Allianz Commercial South Africa
BB+ global;
zaAAA local
(October 2022)
(N/A)
*Rating for ART AG and ART Bermuda

Environmental, Social and Governance (ESG)

Background

  • ESG Board composed of Allianz SE Board Members responsible for the Group ESG strategy
  • ESG Center of Competence (CoC) in Allianz Global Corporate & Specialty established in January 2014, responsible for Allianz‘ P/C business globally
  • ESG is embedded in the global governance framework via Standards & Policies and core insurance processes (Underwriting, Risk Management) supported by a dedicated ESG desk (as part of the ESG CoC) and Communication

1.5°C Aligned Investment Portfolio

Proprietary investment portfolio committed to net-zero emissions by 2050, in line with 1.5°C (UN AOA, SBTi)

Coal Exit for Insurance and Investments

Bringing coal exposure of insurance and investment lines of business to 0% by 2040 latest

Renewable Energy in our Operations

Commitment to source 100% renewable electricity by 2023, reduction of operational emissions along 1.5°C pathway.

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