Sustainability Report 2021 GRI 102-14 01.2 Company description and strategy 01 Introduction Allianz Group is one of the world’s • Outperform: We seek to move ahead of our leading insurers and asset managers competitors, both traditional businesses and 01.1 Message from the CEO disruptors, to drive profitable growth. 01.2 Company description and strategy with 126 million private and corporate Living our purpose: We secure your future 01.3 Our sustainability approach customers1 in more than 70 countries. • Transform: We seek to become simpler and 01.4 Our social approach deeply digital, and to put – in addition to the 01.5 Our climate approach Our customers benefit from a broad range of customer – scalability at the heart of our actions. 01.6 Our sustainability personal and corporate insurance services, • Rebalance: We seek to build leading positions in Business Activities integration approach ranging from property, life, and health insurance large, profitable, and fast-growing geographies Insurance operations Asset management Corporate and other 01.7 2021 Reporting highlights to assistance services to credit insurance and as well as in new areas of business. An increased Confidence in tomorrow Real world impact global business insurance. As one of the world’s focus will be placed on an organic rebalancing We offer insurance products that We responsibly invest assets We embed sustainability 02 Measuring and largest investors, Allianz is managing around of the business mix. protect our customers from that mitigate risks and to deliver value for all managing sustainability € 849 billion on behalf of its insurance customers. a wide range of risks. seize opportunities. of our stakeholders. Furthermore, our asset managers PIMCO To realize our growth ambition and accelerate our 03 Strengthening and Allianz Global Investors manage nearly value creation, we have identified five additional Property-Casualty Allianz GI Central holding functions our foundation € 2.0 trillion of third-party assets. Thanks to strategic areas of focus: 04 Climate-related our systematic integration of environmental, • Transforming the Life/Health and Asset Life/Health PIMCO Other business units financial disclosure social and governance (ESG) criteria in our Management franchise business processes and investment decisions, • Expanding our Property & Casualty 05 Our universal principles we hold the leading position for insurers in leadership position the Dow Jones Sustainability Index. In 2021, Sustainability Approach 2 employees achieved total revenues • Boosting growth through scalable platforms 155,411 3 Allianz as an organization of € 148.5 billion and an operating profit of • Deepening the global vertical integration and Climate approach 4 € 13.4 billion for the group. execution of agility Our purpose and strategy • Reinforcing capital productivity and resilience Social approach Allianz as a financial institution (insurance, proprietary investments, Our purpose is ‘We secure your future’. It is our Sustainability integration is an important element Governance integration approach asset management) reason for being and it guides our decisions and of the strategy implementation. We aim at carefully actions across the Allianz Group. balancing across stakeholders, at the same time Allianz has defined the following objectives for our as we deliver benchmark results at scale and build medium-term strategy, building on the success of strong resilience in a transforming world. the efforts to simplify the company, with the motto For further details about the group’s Purpose We secure your future ‘Simplicity at Scale’: Corporate Strategy, please see the Allianz Group Annual Report 2021, pages 97–98 and Aspiration The trusted partner for protecting and growing your most valuable assets the materials published as part of our Capital Markets Day 2021. Promise 1 Including non-consolidated entities with Allianz customers. 2 Total employees (core and non-core business). 3 Total revenues comprise Property-Casualty total revenues (gross premiums written, and fee and commission income), Life/Health statutory gross premiums written, operating revenues in Asset Management, and total revenues in Corporate and Other (Banking). Careful balance Delivery of benchmark Strong resilience in a 4 Earnings from ordinary activities before income taxes and non-controlling interests in earnings, excluding (if and as applicable for each business segment) all or some of the following items: income from financial assets and liabilities carried at fair value through income (net), realized gains/losses (net), impairments of across stakeholder results at scale transforming world investments (net), interest expenses from external debt, amortization of intangible assets, acquisition-related expenses, restructuring and integration expenses, and profit/loss of substantial subsidiaries held for sale, but not yet sold. 07