Sustainability Report 2021 02.1 Sustainability in insurance 01 Introduction Sustainable solutions evaluation Social criteria What do we mean by sustainable solutions? In order to be classified as a sustainable solution, 4. Facilitates activities to tackle social challenges 02 Measuring and a product or service must fulfil at least one of six and issues faced by socially disadvantaged Examples of Allianz products with an environmental or social added value managing sustainability environmental and social criteria, described in groups (e.g. insurance tailored to social value- Sustainability in our business activities further detail in section 03.11.1 of the Allianz ESG adding products/services that would otherwise 02.1 Sustainability in insurance Integration Framework. For products categorized not be insured). 02.2 Sustainability in as sustainable under this definition, we track and 5. Specifically tailored solutions for socially Insurance Sustainable proprietary investments publish key metrics such as revenue. disadvantaged groups (e.g. products aimed Sustainable solutions with asset Emerging 02.3 Sustainability in asset management As sustainability classification and product at reducing the risk of underserved groups insurance a sustainability management consumers Sustainability in our organization labeling regulation is increasing in many markets, by providing otherwise unavailable access solutions component solutions solutions 02.4 Human resources we have kicked-off projects to review our to finance). 02.5 Customer satisfaction definition in light of evolving regulation. This may 02.6 Environmental management lead to changes in our future disclosures. 6. Raises awareness to prevent and mitigate challenges faced by socially disadvantaged 03 Strengthening 1 Environmental criteria groups (e.g. products that include cause- our foundation related marketing or support schemes 1. Supports development of sustainable managing weather-related risks). 04 Climate-related technology and markets such as renewable financial disclosure energy, environmental goods and services, and/or green infrastructure. 05 Our universal principles 2. Conserves natural resources or biodiversity Agricultural Environmental Energy efficiency or helps to mitigate against climate change solutions liability solutions solutions (e.g. solutions that encourage or reward Crop insurance Pollution liability Green home energy environmentally responsible behavior). Forest insurance Impairment liability saving pack 3. Protects against environmental risks and Water pollution liability Energy performance supports adaptation to climate change services/certificate impacts (e.g. insurance or incentives to manage weather-related risks). Mobility Renewable solutions energy solutions Electric car insurance Photovoltaic insurance Bonus drive app Wind turbine insurance Electric bike insurance Home-based renewable energy insurance 1 Our emerging consumer solutions have reached over 9.7 million1 (2020: 10.1 mn) people living on low incomes in Asia, Africa and Latin America with affordable microinsurance and micro-savings solutions (see section 02.1.4). Socially disadvantaged groups are defined as populations that are excluded in their local society for reasons that may be tied to age, sex, disability, race, ethnicity, origin, religion, economic or other status. 23