Allianz SE provides financial and insurance services for private and commercial customers as well as risk expertise in climate change and renewable energies in most markets of the world.
|Adaptation initiatives|| |
||Allianz Group: Insuring against climate impacts and rewarding sustainable business practice
Allianz have developed a number of adaptation-related products:
- Insurance: Allianz first flood catastrophe bond – global – part of a USD 1 billion programme to mitigate the risk of severe, regional floods across a global fund. Eco-package – Hungary, US – a reduction in the premium for corporate property insurance when environmentally friendly products or materials are used.
- Micro-insurance: In India, Bajaj Allianz launched its first microinsurance product in 2003, and went on to cover more than 100,000 customers. The humanitarian crisis which followed the tsunami in 2004 prompted Allianz to team up with CARE International, an organization with extensive experience in microfinance in India. The partnership is focusing on providing tailor-made packages specifically for people who live near the coast and work in fishing, agriculture and plantations. In Indonesia, they are teaming up with GTZ to offer a microinsurance pilot product, ‘Paying Keluarga’ (meaning ‘family umbrella’). In Egypt, Allianz have worked in collaboration with Planet Finance, Surety Fund and a number of European reinsurers to develop a pilot project offering death and disability insurance to more than 30,000 customers.
- Eco Trends Fund: The global fund invests in renewable energy, environmental protection and water enhancement projects. Approximately 20% of the fund’s assets are invested in emerging economies. As of June 2007, £938 million was under this fund’s management.
||Africa and the Arab States
Asia and the Pacific
Caribbean and Central America
|Adaptation delivery activity
||Communications and awareness-raising
Disaster risk reduction
|NWP work area
||Climate related risks and extreme events
Organizations, institutions and private sector companies at all levels and in a wide range of sectors can become engaged with the NWP by becoming a partner and making Action Pledges. Information about how organizations can become engaged with work on adaptation under the NWP can be found here.