Allianz sets up an emergency response fund to support China’s fight against the coronavirus epidemic

SHANGHAI,
CHINA�- Media OutReach - 3 February 2020 - Allianz (China) Insurance Holding Co. Ltd. announced
today that the group’s key institutions in mainland China and Allianz SE will
jointly set up an emergency response fund to support China’s fight against the
coronavirus epidemic.

 

The initial
pledge towards this fund is RMB 4 million (EUR
520,000), coming in part from Allianz SE’s Disaster Recovery Fund and in part
from Allianz’s operating entities in China and the
region.

 

The emergency response fund
will be managed directly by Allianz (China) Insurance Holding Co Ltd., which is
based in Shanghai, in collaboration with the other
Allianz operating entities in China and the region, including Allianz China
Life Insurance Co. Ltd., Allianz Jingdong General Insurance Company Ltd.,
Allianz Partners China, Allianz Global Corporate & Specialty SE (AGCS) Singapore
and Euler Hermes Consulting (Shanghai).

 

At this stage,
the fund’s main goal is to support those
working on the front line in the areas most hit by the epidemic in China’s Hubei
Province. The aid will consist of medical supplies, donations and insurance
protection.

 

Allianz China
Life Insurance and Allianz Jingdong General Insurance have also launched  some temporary emergency measures for the
convenience of customers. These measures include implementing fast track claims
process, removing restrictions on designated hospitals and drugs, waiving
deductibles and eliminating waiting periods.

 

Solmaz Altin, Chief
Executive Officer, Allianz (China) Insurance
Holding Co. Ltd., said,

“Allianz is closely
following the development of the epidemic. We hope to provide relief to the areas
that are most hit by the epidemic at present. We will continue to provide
support where necessary, according to developments and rescue needs.”

 

Chen Liang, Chief Executive Officer, Allianz China Life Insurance Co. Ltd, said,
        

“Hubei, our newly established
branch in 2019 is at the center of the epidemic and we have to respond quickly
to address the concerns, safety and wellness of our employees and business
partners there. Allianz China
Life together with our partner “Micro Medicine”, launched the free
“Anti-Epidemic Clinic” platform in “Enjoy Health”, gathering  thousands of doctors and medical
professionals from public hospitals across the country to provide online free
clinic services to everyone in China.”

Philip Rong, Chief Executive Officer of Greater China, Allianz Partners, said,

“As the
assistance and insurance solutions arm of Allianz Group, Allianz Partners are engaged in confronting the epidemic situation. Our road, travel and medical rescue teams have been
working around the clock and will continue our efforts to protect people’s
health and travel safety.”

 

The
corporate & specialty arm of the Allianz Group, AGCS is monitoring the
impact of the coronavirus on its corporate clients. Mark Mitchell, Regional
CEO Asia Pacific, AGCS said, “Factories around the world have been
disrupted as the coronavirus curtails China’s industrial output. We are working
closely with our clients in China and globally to mitigate the potential
business interruption within their supply chains to keep their businesses
running smoothly.”

About Allianz in Asia

Asia is one of the
core growth regions for Allianz, characterized by a rich diversity of cultures,
languages and customs. Allianz has been present in the region since 1910, when
it first provided fire and marine insurance in the coastal cities of China.
Today, Allianz is active in 14 markets in the region, offering its core
businesses of property and casualty insurance, life, protection and health
solutions, as well as asset management. With its more than 36,000 staff, Allianz
serves the needs of more than 21 million customers in the region across
multiple distribution channels and digital platforms.

 

About Allianz

The Allianz
Group is one of the world’s leading insurers and asset managers with more than
92 million retail and corporate customers. 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 673 billion euros on behalf of its insurance customers.
Furthermore our asset managers PIMCO and Allianz Global Investors manage more
than 1.4 trillion euros of third-party assets. Thanks to our systematic
integration of ecological and social criteria in our business processes and
investment decisions, we hold the leading position for insurers in the Dow
Jones Sustainability Index. In 2018, over 142,000 employees in more than 70
countries achieved total revenues of 131 billion euros and an operating profit
of 11.5 billion euros for the group.

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

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