 | |
 Headquarters in Munich | |
| Company type | Public (Societas Europaea) |
|---|---|
| Industry | Financial services |
| Founded | February 5, 1890; 135 years ago (1890-02-05) inMunich,Germany |
| Founders | |
| Headquarters | Munich, Germany |
Area served | Worldwide |
Key people |
|
| Services | |
| Revenue |  €179.8 billion (2024) |
| €16.02 billion (2024) | |
| €10.54 billion (2024) | |
| AUM | €2.448 trillion (2024) |
| Total assets | €1.045 trillion (2024) |
| Total equity | €60 billion (2024) |
Number of employees | 156,626 (2024) |
| Subsidiaries | |
| Website | allianz |
| Footnotes / references [1] | |
Allianz SE (/ˈæliənts/AL-ee-ənts,German:[aˈli̯ants]ⓘ) is a Germanmultinationalfinancial services company headquartered inMunich, Germany. Its core businesses areinsurance andasset management.
Allianz is the world's largestinsurance company and the largestfinancial services companyin Europe.[2] In 2023, the company was ranked 37th in theForbes Global 2000.[3] Also it is a component of theEuro Stoxx 50stock market index.[4]
Its asset management division, which consists ofPIMCO andAllianz Global Investors, has €2,432 billion ofassets under management (AUM), of which €1,775 billion are third-party assets (Q1 2021).[5]
Allianz soldDresdner Bank toCommerzbank in November 2008.[6] Allianz was a major supporter of theNazi movement[7] and was an insurer of theAuschwitz concentration camp.
Allianz AG was founded inMunich in 1889, but started its activities inBerlin on 5 February 1890, by the then-director of theMunich Reinsurance CompanyCarl von Thieme (a native ofErfurt, whose father was the director of theThuringia insurance company) andWilhelm von Finck (co-owner of theMerck Finck & Co. Bank). The joint company was listed in Berlin's trade register[8] under the nameAllianz Versicherungs-Aktiengesellschaft.[9] The company was established with a start-up capital of 4 million marks.[10] The first Allianz products were marine and accident policies that were initially sold only in Germany. However, in 1893, Allianz opened its first international branch office in London, distributing marine insurance coverage to German clientele looking for coverage abroad.[10]
In 1900, the company became the first insurer to obtain a license to distribute corporate policies. In 1904,Paul von Naher took over the sole leadership of the company, as it moved into the US and other markets. Markets entered by 1914 included the Netherlands, Italy, Belgium, France, the Scandinavian countries and the Baltic states, and Allianz had become the largest maritime insurer in Germany.[10] The company suffered an early disaster in expansion when the1906 San Francisco earthquake caused the company to sustain 300,000 marks in losses. In 1905, the company acquired Fides Insurance Company, a firm that had innovated the first form of home invasion insurance.[11] Other places expanded into during the 1910s and 1920s includedPalestine,Cyprus,Iraq,China, theDutch Indies (nowadaysIndonesia),Ceylon (nowSri Lanka), andSiam (nowThailand).[12]
In 1905, the company began to offer fire insurance, and in 1911 it began to sell machinery breakdown policies. Allianz remained the only company in the world that sold machine breakdown insurance until 1924. In 1918, it began offering automobile insurance as well through a joint venture called Kraft Versicherungs-AG.[10] In 1921, Von Naher died and was succeeded byKurt Schmitt. The company would begin to offer life insurance as of 1922, becoming Europe's largest offerer of the policies by the end of the 1920s.
In 1927, Allianz merged with Stuttgarter Verein Versicherung AG, which was then the leading accident and third-party liability insurer.[10] Two years later, it acquired the insurance businesses of Favag, a large German insurer that declared bankruptcy due to the onset of theGreat Depression.[13] Expansion of the company then slowed until 1938[14] at which point it employed more than 24,000 people.[15] Christian Stadler wrote of the history of Allianz that it "shows how important it is to diversify into related areas to hedge against the risk of fundamental changes in markets and economies".[16]
Allianz was a major supporter of theNazi movement, and Hitler's first cabinet included the head of Allianz as a cabinet member. Allianz provided massive financial support at a crucial time for the expansion of the NSDAP. On 30 June 1933,Kurt Schmitt, Allianz Director-General, was appointed Economics Minister forNazi Germany underAdolf Hitler and became an SS honorary member.[17] He was a supporter of 'Aryanization' and pushing out Jews from public life in Germany. He later received various honours from the SS including the Deaths Head and Iron Cross. From 1933 to 1945, Allianz insured sub-organizations of theNSDAP and opened up new areas of business as the German Reich expanded. Among other things, the customer base was expanded through the takeover of Jewish insurance houses as part of the Aryanization initiative (seizing Jewish businesses to put in non-Jewish hands). Allianz profited directly from deportations. From 1940 onwards, Allianz insured SS armaments factories, prisoners' barracks, material stores and vehicle fleets inconcentration camps, includingAuschwitz,Buchenwald andDachau. Allianz employees regularly inspected concentration camps.[18]
DuringWorld War II, the Berlin headquarters of Allianz were destroyed by Allied bombing runs.[19] Following the end of the war in 1945, Hans Heß became head of the company, and Allianz shifted its headquarters toMunich in 1949 due to the split between East and West Germany. Heß only held the position until 1948, when he was replaced by Hans Goudefroy. In 1956, Allianz became the first major European Insurance company to install amainframe computer, taking delivery of aIBM 650 which provided cost savings within three years of delivery.[20][21] After World War II, global business activities were gradually resumed. Allianz opened an office in Paris in 1959 and started repurchasing stakes in former subsidiaries in Italy and Austria. In 1971, Wolfgang Schieren became the head of the company.
These expansions were followed in the 1970s by the establishment of business in the United Kingdom, the Netherlands, Spain, Brazil and the United States. In 1986, Allianz acquiredCornhill Insurance in London, and the purchase of a stake in Riunione Adriatica di Sicurtà (RAS) inMilan, strengthened its presence in western and southern Europe in the 1980s.
In 1990, Allianz started an expansion into eight eastern European countries by establishing a presence in Hungary. In the same decade, Allianz also acquiredFireman's Fund, an insurer in the United States, which was followed by the purchase ofAssurances Générales de France. These acquisitions were followed by the expansion into Asia with several joint ventures andacquisitions in China and South Korea and the acquisition of Australia'sManufacturers Mutual Insurance. Around this time, Allianz expanded itsasset management business as well by purchasing asset management companies in California.[10]
In 1999, Allianz purchased investment management firmPIMCO for approximately US$3.3 billion.[22]
In April 2001, Allianz agreed to acquire the 80 per cent ofDresdner Bank that it did not already own, for US$20 billion. As part of the transaction, Allianz agreed to sell its 13.5 per cent stake inHypoVereinsbank toMunich Re and to acquire Munich Re's 40 per cent stake inAllianz Leben.[23] Following the completion of the acquisition, Allianz and Dresdner Bank combined their asset management activities by formingAllianz Global Investors. In 2002,Michael Diekmann succeeded Henning Schulte-Noelle as CEO. In June 2006, Allianz announced the layoff of 7,280 employees, about 4 percent of its worldwide workforce at the time, as part of a restructuring program aimed at raising profitability ("Allianz Sustainability P&C and Life"). The reductions comprised 5,000 staff members at Allianz insurance operations and 2,480 at Dresdner Bank. In the same month, Allianz announced that its Dresdner Kleinwort Wasserstein investment banking operation would be renamed as simply Dresdner Kleinwort.[24]
In September 2005, Allianz announced that it would convert its holding company into asocietas europaea. The conversion was made in conjunction with Allianz's acquisition of 100 per cent control of its principal Italian subsidiaryRiunione Adriatica di Sicurtà for around US$7 billion. The conversion to an SE was completed on 13 October 2006.[25] The Allianz Group also simplified its brand strategy from 2006 and their previous emblem was replaced by the current combination mark.[26] By 2008 the company was Europe's largest insurer.[27]
In 2007 it was a founder member of theHedge Fund Standards Board, which sets a voluntary code of standards of best practice endorsed by its members.[28]
On 31 August 2008, it was announced that Allianz had agreed to sell 60.2 per cent of Dresdner Bank toCommerzbank for €9.8 billion (US$14.4 billion), with an agreement that Commerzbank would acquire the remainder of Dresdner Bank by the end of 2009.[29] After renegotiations, it was announced in November 2008 thatCommerzbank would acquire the 100% ownership ofDresdner Bank earlier (12 January 2009). The sale price was lowered to 5.5 billion Euro. Shortly after the transaction completed, Commerzbank was partially nationalized by the German government to save it from bankruptcy. Allianz currently retains a stake of around 14% in Commerzbank.[30]
Allianz X founded, in 2013 and headed by Nazim Cetin, is Allianz's technology investment fund.[31]
In August 2015, a consortium led by Allianz acquired German motorway service station groupTank & Rast for an undisclosed sum believed to be in the region of €3.5 billion.[32]
In April 2018, TH Real Estate and Allianz partnered to provide £100m in debt finance to developersYardNine, for the development of 80 Fenchurch Street, a 240,000 sq ft office development in London.[33]
In October 2020, Allianz was named the world's top insurance brand by the Interbrand's Best Global Brands Ranking.[34]
On 1 August 2021, Allianz disclosed that theUnited States Department of Justice had launched a probe into Allianz to determine the role that executives had played in the loss of billions of euros from Allianz Global's Structured Alpha Funds.[35][36] In September 2021, the GermanFederal Financial Supervisory Authority launched its own probe.[37][38] On September 30, 2021, it was reported that asset management chiefJacqueline Hunt would step down as part of a shake up that followed the investigations into the losses, staying on as a consultant to Bäte.[39]
On 17 May 2022, Allianz SE has agreed to pay $6 billion in the U.S. fraud case due to the collapse of its Structured Alpha funds during theCOVID-19 pandemic.[40]
In April 2023, Allianz put its 5% stake infintech companyN26 up for sale, with N26 valued at $3 billion (€2.7 billion). Meanwhile, N26 was valued at $9 billion at its lastfunding round in October 2021.[41]
In December 2024, Allianz announced to withdraw its offer to acquire at least 51% of Singapore's Income Insurance which cost around $1.63 billion. This offer was initial put forward in July 2024 but later sparked criticism in Singapore as it concerned that it would detract from the mission of providing an affordable insurance for lower-income workers.[42]
As of 2022[update], Allianz was the world's largest insurance company with US$1.02 trillion in assets according toForbes. For the fiscal year 2022, Allianz reported earnings of €7.2 billion, with an annual revenue of €152.7 billion, an increase of 2.8% over the previous fiscal cycle.[43]
| Year | Revenue in bn. € | Net income in bn. € | Total assets in bn. € | Employees |
|---|---|---|---|---|
| 2009 | 97.4 | 4.3 | ||
| 2010 | 106.5 | 5.2 | ||
| 2011 | 103.6 | 5.5 | ||
| 2012 | 106.4 | 5.6 | ||
| 2013 | 110.8 | 6.0 | 711.5 | 147,627 |
| 2014 | 122.3 | 6.2 | 805.8 | 147,425 |
| 2015 | 125.2 | 6.6 | 848.9 | 142,459 |
| 2016 | 122.4 | 6.9 | 883.8 | 140,253 |
| 2017 | 126.1 | 6.8 | 901.3 | 140,553 |
| 2018 | 132.3 | 7.7 | 897.6 | 142,460 |
| 2019 | 142.4 | 8.3 | 1,011.1 | 147,268 |
| 2020 | 140.5 | 7.1 | 1,060.0 | 150,269 |
| 2021 | 148.5 | 7.1 | 1,139.0 | 155,411 |
| 2022 | 152.7 | 7.2 | 1,022.0 | 159,253 |
| 2023 | 14.7 | 983.0 | 157,883 |
Allianz has operations in over 70 countries and has around 150,000 employees. The parent company, Allianz SE, is headquartered in Munich. Allianz has more than 100 million customers worldwide and its services include property and casualty insurance, life and health insurance and asset management.[19] In 2013, it was number 25 on the global Forbes 2000 list.[44]
Allianz Australia Insurance Limited was founded 1914 asManufacturers Mutual Insurance (MMI). Allianz acquired MMI in 1998.[45] Allianz Australia operates throughout Australia and New Zealand and through its subsidiaries offers a range of insurance and risk management products and services.[46] Subsidiaries of Allianz Australia include Club Marine, Allianz Life and Hunter Premium Funding.[47] In 2012, Allianz Australia announced a multi-year agreement with theSydney Cricket Ground Trust to become thenaming rights sponsor of theformer Sydney Football Stadium.[48] In 2022 the deal was renewed for a further six years at thereplacement Sydney Football Stadium[49]
Allianz operates through Allianz Belgium, previously AGF Belgium which has been re-branded to Allianz Belgium in November 2007.[50]
In 2012, Allianz Belgium (including Luxembourg) and Allianz Netherlands were integrated to become Allianz Benelux.[51] In August 2020, they announced the selling of its closed classical life insurance retail insurance book with covering assets such as mortgages to Monument Re.[52]
Allianz Bank Bulgaria is a universal commercial bank having its headquarters in Sofia. It was established in 1991. On 13 October 2003 the bank received the name of its principal shareholder – Allianz Bulgaria Holding. Before that the bank was named 'Bulgaria Invest' Commercial Bank. Allianz Bank Bulgaria offers its products in more than hundred branches and offices all over the country, as well as through the broad agents' network of Allianz Bulgaria Holding. The bank possesses a full banking license for carrying out banking and financial transactions.[53]
Allianz entered the Canadian market in the early 1990s through an acquisition of several North American insurers, namely theAmerican Firemans Fund[54] and theCanadian Surety.[55] Upon the market exit the personal and commercial lines unit was sold off to the market leaderING Canada (NowIntact), andAllianz Canada continues operations inCambridge, Ontario. Allianz Canada has also merged withTIC Travel Insurance in 2014 and has become one of the largest insurance companies in Canada as a result.[56][57]
In January 2021, theChina Banking and Insurance Regulatory Commission authorized the Allianz group to establish Allianz Insurance Asset Management, owned by Allianz China Iamc and based inBeijing.[58] The next month, Allianz agreed withCITIC Trust the acquisition of the 49% minority stake of Allianz China Life Insurance Co, realizing the "China’s first wholly foreign-owned insurance asset management company".[59][60]
Allianz acquired in 1999 60% of the shares of Colombian insurer Colseguros, 3 years later in 2002 it increases its shareholding, becoming the sole owner of this company in Colombia. After almost 10 years in 2012 and with an evolutionary change of brand Colseguros dies as an official name and the entire operation of Colombia is consolidated under the name of Allianz.[61]
Finland
In 2017, Allianz alongsideMacquarie Group and Valtion Eläkerahasto acquiredElenia taking ownership of Finland's second largest power distribution system operator and ninth largest district heating network.[62]
Allianz offers a wide range of general, life and health insurance products in Germany through its Allianz Deutschland AG subsidiary. It is the market leader in both the general andlife insurance markets. Allianz products are distributed principally through a network of full-time tied agents. Since September 2010 Allianz products have also been sold through Commerzbank branches.
In Greece Allianz began to work on 2 December 1985. Then was established the first Company's Office inAmpelokipoi,Athens. Now Allianz has almost 500 Offices in Greece and a lot of people buy the products of the company.
In February 2022, it was announced Allianz had acquired 72% ofEuropean Reliance for €207 million.[63]
In India[64] Allianz primarily operates throughBajaj Allianz Life Insurance Company &Bajaj Allianz General Insurance Company Limited, a joint venture between Allianz andBajaj Finserv Limited. Bajaj Allianz has around 1,200 branches across India and offers services including unit-linked, traditional, health, child and pension policies.[65]
Allianz started its operations in Indonesia with a representative office in 1981.[66] In 1989, Allianz established PT Asuransi Allianz Utama Indonesia, a general insurance company.[67] Furthermore, Allianz entered the Indonesian life insurance market by opening PT Asuransi Allianz Life Indonesia in 1996.[68]
Allianz plc in Ireland employs over 1,700 people. Established in 1902,[69] Allianz plc is active in both the Republic of Ireland and Northern Ireland, providing car, home, pet, boat, and travel products, as well as SME (small to medium enterprise) products including van, business, and schools insurance. Today, Allianz in Ireland insures over half a million customers across the country[70] through its portfolio of personal and commercial insurance products.[71] In 1999, through their acquisition of AGF, Allianz SE acquired AGF Irish Life Holdings plc in Ireland, which at the time owned Insurance Corporation of Ireland and Church and General Insurance.[72] Following their purchase, and despite a minority shareholding by Irish Life, both companies changed their names to Allianz plc, trading simply as Allianz. In 2017, Allianz plc became a wholly owned entity of Allianz SE.
On 9 April 2019, Allianz started cooperation withCynet,[73] a cybersecurity company in the field of threat detection and response to address security threats and improve its resilience.
The Allianz Group in Italy is headed by composite insurance company Allianz SpA and it ranks second in terms of premiums written and fifth in terms of assets under management as well as fourth for financial advisors.
The Italian parent company, Allianz SpA, resulted from the integration, in October 2007, of three former insurance companies:RAS ("Riunione Adriatica di Sicurtà", Assurance Adriatic Reunion), established inTrieste in 1838 and based inMilan (part of the Allianz Group since 1987),Lloyd Adriatico, established in 1836 and based in Trieste (part of the Allianz Group since 1995) andAllianz Subalpina, established in 1928 and based inTurin (formerly a subsidiary of RAS).
On 25 November 2016, Allianz opened a new office in Kenya.[74]
Allianz Mexico started operations in 1987.[75]
In 2003, Allianz AG began its operation in the Philippines under the joint venture partnership with Pioneer Life Incorporated which lasted for five years.[76]
Allianz returned its operations in the country in 2016 as a subsidiary group with an exclusive distribution partnership with thePhilippine National Bank. They are currently operated under the name of Allianz - PNB Life Insurance Incorporated.[77]
In 2018 Allianz, via Allianz Capital Partners, acquired the largest subsidy-free solar project in Portugal.[78]
Allianz started operations in Russia in 1990, with the following acquisition of one of the largest Russian insurance companies ROSNO. In 2018, after the global acquisition ofEuler Hermes, Allianz presence in Russian Federation was extended by its local credit insurance branch – Euler Hermes Russia.[79] In June 2022, in the wake of theRussian invasion of Ukraine Allianz sold a 50.1% stake in its Russian operations to Russian company Interholding LLC, while retaining a 49.9% stake there. This was widely criticized by international activists.[80][81]
Allianz started its life and Property & Casualty (P&C) operation in Slovakia in 1993. In 2001 Allianz AG bought a majority stake in then state-owned Slovenská poisťovňa (SP, Slovak Insurance Company). Upon the purchase SP held a market share of well over 50%. Upon the purchase the local Allianz operation was merged with SP creating a new company Allianz – Slovenská poisťovňa.[82]
The affiliated services of Allianz in Turkey (through Şark Sigorta) started in 1923, while the direct presence of Allianz in the country began in 1988,[85] when the company partnered with Şark Sigorta together with theTokio Marine insurance company of Japan.[85] In 1991, Şark Hayat Sigorta was founded.[85] In 1998, the two companies changed their names as Koç Allianz Sigorta and Koç Allianz Hayat Sigorta, respectively, and started operating under Allianz Sigorta and Allianz Hayat ve Emeklilik business titles,[85] upon the takeover ofKoç Holding's shares by Allianz in 2008.[85] Allianz Group made a new investment in Turkey in 2013 by acquiring Yapı Kredi Sigorta and Yapı Kredi Emeklilik.[85] In October 2013, Yapı Kredi Emeklilik was renamed as Allianz Yaşam ve Emeklilik.[85] In 2014, Allianz Sigorta and Yapı Kredi Sigorta were merged and the insurance operations were combined under the roof of Allianz Sigorta.[85]
In 2015, Allianz Turkey moved its head office to Allianz Tower in theAtaşehir district ofIstanbul.[83][84][85][86] Ataşehir is home to theIstanbul Financial Center (IFC), opened in 2023.[87][88][89][90] The Allianz Campus operation center will be opened inİzmir.[85]
Allianz acquired British insurance company Cornhill Insurance plc in 1986, subsequently renamed Allianz Cornhill Insurance plc. This then simply became Allianz Insurance plc in April 2007.[91] Allianz purchasedPremierline in 2003, previously owning a 20% stake in the business and then later purchasing the remaining 80% stake in business.[92] Allianz Insurance plc ownsPetplan UK, the UK pet insurance provider. It also owns the high-net-worth insurance broker Home and Legacy, which it purchased in 2006.[93] Their ITcaptive unit in India, ACIS is located atTechnopark, Trivandrum, in Kerala.[94] Allianz previously ownedKleinwort Benson, which it inherited when it acquiredDresdner Bank. The investment bank has subsequently been merged with the corporate bank of Dresdner Bank and rebranded asDresdner Kleinwort.[95]
In 2017, Allianz acquired a stake in the general division ofLiverpool Victoria for a deal worth up to £1bn. The deal had its personal lines go to Liverpool Victoria, creating a joint venture between the two firms, with the latter's commercial lines going to Allianz.[96]
In 2019, Allianz paid a total of £800 million to purchase the remaining 51% stake in the general insurance division ofLiverpool Victoria ending the joint venture between the firms as well as taking over the whole of the general insurance arm ofLegal & General.[97]
The deal has concluded with both firms now part of the Allianz group of companies starting on 1 January 2020 with the L&G division being officially renamed Fairmead Insurance.[98]
Allianz has a presence within the United States, includingAllianz Life Insurance Company of North America and Allianz Global Corporate & Specialty (which incorporatesFireman's Fund). Allianz Life Insurance Company of North America has been ranked among the 100 best companies to work for byFortune.[99] Allianz's investment arm includes two asset managers,PIMCO andAllianz Global Investors, also referred to as AllianzGI or AGI.[100][101][102]
The Allianzboard of directors is chaired by Oliver Bäte and includes Sergio Balbinot, Sirma Boshnakova, Dr. Barbara Karuth-Zelle, Klaus-Peter Röhler, Ivan de la Sota, Giulio Terzariol, Günther Thallinger, Christopher Townsend, Renate Wagner and Dr. Andreas G. Wimmer.[103]
| Years | Name |
|---|---|
| 1890–1904 | Carl von Thieme |
| 1894–1921 | Paul von der Nahmer |
| 1921–1933 | Kurt Schmitt |
| 1933–1948 | Hans Hess |
| 1948–1961 | Hans Goudefroy |
| 1962–1971 | Alfred Haase |
| 1971–1991 | Wolfgang Schieren |
| 1991–2003 | Henning Schulte-Noelle |
| 2003–2015 | Michael Diekmann |
| 2015–today | Oliver Bäte |
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Allianz holdsnaming rights to theAllianz Arena, afootball stadium in north Munich. The professional Munich football clubBayern Munich have played their home games at Allianz Arena since the start of the 2005–06 season.[104]TSV 1860 München played their home games at Allianz Arena until the end of the 2016–17 season. Other stadiums associated with Allianz include theAllianz Parque football stadium inSão Paulo, Brazil, theAllianz Riviera football stadium inNice, France, theAllianz Stadium football stadium inTurin, Italy, theAllianz Stadion football stadium inVienna, Austria andAllianz Field soccer stadium (forMinnesota United inMajor League Soccer) inMinnesota, United States.[105]
Allianz had been in negotiations with theNew York Jets and theGiants to buy naming rights to the New Meadowlands Stadium (now known asMetLife Stadium) inEast Rutherford, New Jersey, but those talks ended in September 2008, due to opposition from Jewish groups andHolocaust survivors.[106]
Allianz owned the Polish football teamGórnik Zabrze but sold its shares in the club in April 2011.[107] Allianz has been involved in Formula One since 2000, firstly as a sponsor of theAT&T Williams F1 Team,[108] and since 2011 as a sponsor of the Mercedes GP Petronas team.[109] In 2009 Allianz signed an agreement to become the Global Partner of theSt. Andrews Links Trust.[110] In early 2012, Allianz entered an agreement with the Sydney Cricket & Sports Ground Trust which oversaw the Sydney Football Stadium being renamedAllianz Stadium.[111] 2012 also saw Allianz partner up withSaracens to be their main shirt sponsor as well as securing an £8 million deal for naming rights to their newCopthall Stadium home which became Allianz Park.[112] This deal was terminated on 25 October 2020 following the conclusion of the2019–20 season.[113]
The company has also been the sponsor of other sports, including theWomen's British Open (golf),Allianz Open de Lyon (golf),Allianz Golf Open du Grand Toulouse (golf),Swiss Open (tennis),Allianz Cup (tennis),Boca Raton Championship (golf),La Liga (football),Premier League (football),World Aquatics Swimming World Cup (swimming), andWorld Athletics Championships (athletics) events.[114][115][116]
In Ireland, the nationalGaelic football league is officially named theAllianz National Football League, and the nationalhurling league is officially named theAllianz Hurling League.
In Italy, the company is the title sponsor of the main basketball club ofTrieste, officially knownAllianz Pallacanestro Trieste.[117]
Allianz is also the official worldwide insurance partner of the2022 Winter Olympics andParalympics, the2024 Summer Olympics andParalympics, the2026 Winter Olympics andParalympics, and the2028 Summer Olympics andParalympics.[118][119]
In 1993, Henning Schulte-Noelle commissioned an archive for corporate history, becoming the first Allianz CEO to address the company's activities duringNazi Germany. In 1997, Schulte-Noelle askedGerald Feldman, aUniversity of California-Berkeley history professor, to undertake a larger research project on Allianz's past involvement with Nazi Germany.[120] After research began, Jewish World War II survivors and their descendants took Allianz and other European insurance companies to court, accusing them of unpaid insurance policies.[121] Allianz and four other insurers supported the creation of theInternational Commission on Holocaust Era Insurance Claims (ICHEIC).[122]
Furthermore, Allianz became a founding member of the German foundation Remembrance, Responsibility and Future.[123] Feldman published the comprehensive results of his research in September 2001. Based on these results Allianz established an exhibition in the Archive for Corporate History and on the Internet.[124] The research concluded that Allianz, as an organization and through its corporate officers, voluntarily partnered with theNazi Regime and Nazi Germany, starting as early as the early 1930s and continuing all the way through to the collapse of Nazi Germany.[125]
Feldman summarized his findings stating: "It was just one more piece of business in the Third Reich, but it demonstrated that such pieces on any large scale made contact at some point with all that is represented by the name 'Auschwitz'– from slave labor to extermination – virtually inescapable."[126]
Allianz had been a major supporter of the NSDAP, financially contributed to their growth before 1933, and the Director of Allianz was not only an early party member, but he became a cabinet minister in Hitlers first cabinet.Kurt Schmitt was Reich Economy Minister from 1933 to 1934, and he was deeply anti-Semitic. He had been on the Allianz board of directors from 1921 to 1933. During the war, Allianz provided coverage throughout the Reich until 1945.
Major GeneralGustav Lombard, the former commander of theWaffen-SS’8th SS Cavalry Division Florian Geyer, worked for Allianz inMunich after the war's end.
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