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Allianz announces 6 million euros for earthquake relief and recovery

Allianz commits 6 million euros to earthquake relief and recovery

At least 500,000 euros has already been deployed via a local fund for immediate humanitarian aid

1 million euros earmarked to match employee donations

Munich, February 8, 2023

Allianz Group announced today that it would make available six million euros to support relief and recovery efforts following the earthquakes in Turkey and Syria, including up to one million euros to match the donations of its employees and tied agents.

Oliver Bäte, CEO and Chairman of the Board of Management of Allianz SE, said, “Allianz’s decisive commitment of six million euros is an expression of our solidarity with our colleagues and customers, as well as with their loved ones, who have been affected by the earthquakes in the region. These resources are also an expression of our unwavering confidence in the ability of societies and individuals to rebuild and thrive in the wake of natural disasters. The people of Allianz, everywhere in the world, are at the ready to play our part in supporting those efforts.”

One million euros has already been mobilized via a collaboration of Allianz Türkiye, Allianz Partners and Allianz Trade in Turkey to support a special local fund providing immediate relief to people directly affected by the crisis. The scope of the first wave of support ranges from search and rescue to housing, relocation, and provision of other necessary supplies. Of this amount, 500,000 euros have already been deployed.

Allianz will also match employee donations of up to one million euros, with an internal donation campaign already underway. The company has more than 2,000 employees based in Turkey.

Allianz’s Employee Assistance Program – available to all colleagues globally 24 hours a day - has been active supporting Allianz colleagues in the wake of the disaster.

Sirma Boshnakova, Member of the Allianz SE Board of Management, said, “As the devastating consequences of the earthquake continue to unfold, the only appropriate response is to take immediate action – both through financial support and by activating the various support networks we already have in place. Allianz has had strong, historic ties with Turkey and its communities for a century, and we are doing our utmost to ensure the safety and support of our customers and colleagues who have been directly contributing on the ground.”

ALLIANZ SE GROUP COMMUNICATIONS

CEO of Allianz Türkiye, Tolga Gurkan, said: “We are in close contact with our full ecosystem, including with our teammates across Allianz Türkiye, Allianz Partners and Allianz Trade, and with public authorities, NGOs, municipalities and medical associations. Together, we will overcome this difficult time and rebuild stronger than ever.”

For further information please contact:

Florian Amberg Tel. +49 89 3800 15924 e-mail: florian.amberg@allianz.com

About Allianz

The Allianz Group is one of the world's leading insurers and asset managers with more than 126 million* private and corporate 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 is one of the world’s largest investors, managing around 706 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 1.7 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2021, over 155,000 employees achieved total revenues of 148.5 billion euros and an operating profit of 13.4 billion euros for the group.

These assessments are, as always, subject to the disclaimer provided below.

* Including non-consolidated entities with Allianz customers.

** As of Sep 30, 2022

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This document includes forward-looking statements, such as prospects or expectations, that are based on management's current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements.

Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz’s core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) adverse publicity, regulatory actions or litigation with respect to the Allianz Group, other well-known companies and the financial services industry generally, (iv) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (v) mortality and morbidity levels and trends, (vi) persistency levels, (vii) the extent of credit defaults, (viii) interest rate levels, (ix) currency exchange rates, most notably the EUR/USD exchange rate, (x) changes in laws and regulations, including tax regulations, (xi) the impact of acquisitions including and related integration issues and reorganization measures, and (xii) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.

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