Allianz SE : Larger ships, larger losses

The capacity of container ships has increased twelvefold over the last fifty years. The so far largest container ship, the MSC Oscar, was launched in January 2015 with a capacity of 19,223 TEU (Twenty-foot Equivalent Unit). That's as long as four football fields in a row. This growth trend is a major challenge for marine insurers, according to the latest study by industrial insurer Allianz Global Corporate & Specialty (AGCS). "The industry should prepare for losses exceeding 1 billion US dollars in the future, in particular if container vessels or specialized floating offshore facilities are involved," says Sven Gerhard, Global Product Leader Hull & Marine Liabilities, at AGCS.

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You can find the entire Safety and Shipping Review 2015 here.

According to an investigation carried out by Allianz, many investors still prefer secure, but low-interest forms of saving. "This means that investors are losing interest and compound interest, which are vital in building up an additional income for retirement", says Hans-Jörg Naumer, Global Head of Capital Markets & Thematic Research at Allianz Global Investors. "Saving based on life stage allows you to position yourself more broadly and invest in equities, for instance, in addition to bonds. This reduces the risk of inflation eating up the return from an investment, so that you aren't left with a considerable chunk of income missing in your old age."

You can read more about this in our latest edition of Demographic Pulse.

My Finance Coach Foundation was established in 2010 by Allianz in collaboration with partner companies Grey and McKinsey. The aim: to raise children and young people's awareness of how to handle money in a responsible way. As part of a wide-ranging offer, numerous Allianz employees visit schools throughout Germany to spark young people's interest in economic relationships and transfer their own knowledge. My Finance Coach is supported by many companies in the process, and helps to steer young people away from falling into debt or insolvency.

"Allianz is an outstandingly attractive and stable employer. In 2014, about 24,000 people from inside and outside the company found a new job within the global world of Allianz," explains Christian Finckh, Chief Human Resources Officer at Allianz. You will find more facts on Allianz as an employer and get to know us a little better in the HR Fact Book.

"The low-interest rate environment challenges our business; however, missing trends on accelerating technological and social innovations is one of the biggest risks for a financial services provider like Allianz. It would harm our entrepreneurial ability to accompany change and to protect our future and that of our customers."

Come back to allianz.com/sustainability on March 13 to see our full 2014 Sustainability Report.

In March 2004, the first Allianz Microinsurance product was brought to the market in India. Ever since, our portfolio has grown and we're now insuring 45 million low-income customers in developing countries in Asia, Africa, and Latin America.

Explore more sustainability history facts in the 125 years of Allianz history feature

And come back to allianz.com/sustainability on March 13 to see our full 2014 Sustainability Report.

According to the U.S. Energy Information Administration, three quarters of Brazil's energy is produced in hydropower plants. One such plant is Itaipú, on the border between Brazil and Paraguay. With a nominal output of 14,000 megawatts, Itaipú is the world's largest producer of clean renewable energy, after China's Three Gorges Dam. As a comparison: the largest nuclear power plant, Kashiwazaki Kariwa in Japan, has an installed capacity of 8,200 megawatts.

You can find out more about the importance of hydropower for Brazil and current threats facing hydropower here

Car designer Zsolt Tárnok envisaged a car with improved safety for tomorrow's roads. The result is a streamlined capsule which reminds us of Formula One cars and jet fighter cockpits.

Read more on Allianz Open Knowledge

In a crash test involving a roof box, the Allianz Center for Technology (AZT) simulated a forward collision where the vehicle was traveling at 50km/h. The result: despite the minimal load the ski equipment burst out of the box, becoming a deadly hazard in the process. "A roof box is a practical means of transporting bulky objects. However, just like in the trunk of the car, it is absolutely necessary to secure the cargo in the roof box as well - otherwise other road users will be at risk", explained Melanie Kreutner, accident analyst at AZT. Driving behavior should also be adapted in view of the roof load, as the car will be more unstable when turning corners and braking.

Click here to watch the video

In 1999 Allianz stepped into the new millennium with the logo that we know and love today. It combines tradition and modernity, depicting the trusted eagle and Allianz's three key fields of business: insurance, retirement provision, and assets. The Allianz eagle was born as early as 1923: in his early manifestation, he watched over three offspring, symbolizing the newly established subsidiaries at the time. In 1977 this image was modernized. By contrast, Allianz's first company logo still featured clear analogies to the German imperial eagle, which in this case bore the emblems of the two cities in which the company was founded, Munich and Berlin.

Just one moment of carelessness and it's all over: a sprained knee, shoulder and wrist injuries, and broken legs or thigh fractures are some of the most common injuries obtained while skiing. In emergencies the following basic rule applies: "protect, alert, assist!" The casualty should be covered up and kept warm while waiting for the arrival of the emergency services. According to Dr. Beatrix Grohn, head of AGA's Medical Assistance division, it is also important to talk to the casualty and help them remain calm.

Oil prices are the lowest they have been in six years. On January 21, 2015, the price for a barrel of Brent oil was under 50 US dollars. These developments are having an effect on the entire economy as well. According to analyses conducted by Euler Hermes Economic Research, the rates of inflation in the four largest European economies have reached their lowest levels since 2009.

You can find the entire report here

According to the Allianz Risk Barometer 2015 cybercrime continues to rise rapidly in the ranking of disruptive scenarios. In Germany, the United Kingdom and the United States cyber risks are now among the top three corporate risks. Although awareness of these risks is increasing, many companies are still underestimating the severity of the various impacts.

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Throughout July and August, Allianz Global Assistance was at the ready, responding to peaks in its activity during the summer season. Reinforcing its automotive and medical operational teams to ensure and preserve customer satisfaction and service quality. In that two-month period, Allianz Global Assistance treated 1,425,000 files, or 1 person every 15 seconds.

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In some areas the snow has already arrived, some regions are still waiting. To be on the safe side, our experts at the Allianz Center of Technology put together some useful hints for driving in winter.

One short look at the list on the left hand side might spare you a lot of trouble if you are going on a winter holiday.

The Isozaki Tower, named after Japanese architect Arata Isozaki, can already be seen from ten kilometers away, and even today forms an integral part of Milan's skyline. It symbolizes the dynamic development of the city, which is set to host the world exhibition "Expo" in the coming year. Over 400 craftsmen work daily towards completing the Isozaki Tower, forecast for 2015.

Your perfect Christmas tree is strapped to the roof of your car. But what happens when you're involved in an accident? In the Allianz crash test the AZT simulated a rear-end collision with a stationary car. The result: at a speed of only 50 km/h a bungee cord can snap and the tree ends up flying forward over the roof. This is not only dangerous but also expensive: If you're stopped by the police with an insufficiently fixed tree, 35 euros are due. If other road users are endangered, it can cost as much as 60 euros and a penalty point on your driver's record. AZT accident analyst Melanie Kreutner recommends: use a roof rack for larger Christmas trees and secure the tree with an additional strap.

In our Road Safety Trends our colleagues from Allianz Open Knowledge show how safe driving a car is in different parts of this world. We took a look at the main issues and found out some very interesting facts. Which country will soon be the safest to drive in? Is there a country that all manufacturers are leaving at the moment? Learn more in our graphic on Road Safety.

Road Safety on Allianz Open Knowledge

In daily life we often have an irrational view of risk. Frequently we read that more people are killed by falling coconuts than by shark attacks every year. How good are you at judging the probability of different scenarios? Allianz Global Investors has developed an animation, with which you can test yourself.

Click here to take the test

On the 25th anniversary of the fall of the Berlin Wall, Nobel Peace Prize laureate Mikhail Gorbachev cautioned against the consequences of the "collapse of trust" between the Western countries and Russia. At a symposium of this "New Policy Forum" and the "Cinema for Peace Foundation" in the Allianz Forum at the Brandenburg Gate, he explained that a continuation of the politics of the West would only serve to weaken Europe. People should apply the learning from the Eighties. Besides political signals, "we need to consider a non-governmental initiative to resume building a common European house".

"Forget about steering wheels, forget about pedals! The only thing left in the car will be two buttons, one red and one green. The green button starts the car, the red stops it in an emergency. We see the Google car as being more like a bus or a taxi than a sports car. There's a major advantage to this; when I get out of the car, I don't have to find a parking spot. The car will just keep driving to the next customer." Jens Redmer, Principal New Products, Google Germany, at the 3rd Allianz Auto Day at the Allianz Center for Technology.

Jens Redmer, Principal New Products, Google Deutschland (together with Dr. Miklos Kiss, Audi, on the right hand side), at the 3rd Allianz Autotag at the Allianz Center of Technology.

In the "Global Claims Review 2014" industry insurer Allianz Global Corporate and Speciality (AGCS) presents the biggest losses for enterprises (excluding natural catastrophies). According to the report, 80 per cent of all losses reported in 2014 were due to plane crashes, fires or explosions. The latter mostly affecting the industry sector, just like the worst loss in 2014: A fire in a refinery in Syberia caused damages of up to 800 Million US-Dollars.

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More on the loss report

"Great advancements in the capabilities of driver assistance systems and the increasing market penetration of these systems in all automotive sectors, will lead to a considerable reduction in collision damages. At the same time, we are expecting an increase in the complexity of the claims assessment process and the repair of these vehicles."

Dr. Christoph Lauterwasser, Managing Director of the Allianz Center for Technology - at the Third Allianz Auto Day at the Research Center in Ismaning.

On your way back from the shops you just put the crate of water on the backseat. It's only a 5 minute journey home, after all. But beware: crash experiments currently being carried out at the Allianz Center for Technology show just how dangerous unsecured objects in a car can be during a crash or when braking. Carsten Reinkemeyer, head of accident research at the Allianz Center for Technology, recommends: "Even if you are in a hurry or only have to travel a short distance, heavy objects belong in the trunk and not on the back seat, and they should always be properly secured."

Crash Test Video (Website in German)

This is how much Allianz invests in infrastructure and renewable energy. The investment volume of 5.1 billion euros is spread over gas networks, highways, wind farms and solar parks. Our chart shows exactly where the infrastructure assets are located and what the investment figures are. The chart shows gas networks, wind farms and solar parks.

To have so little and risk losing so much: hard to imagine, but in some regions of the world the livelihood of an entire family depends on just one cow. This makes it all the more important to insure people from developing countries against natural catastrophes, for instance. Microinsurance gives the gift of security to those who need it most. Allianz already provides microinsurance for the worldly possessions of over 24 million people in Asia, Africa and Latin America. You can find more information on Allianz Open Knowledge.

Insurance for that once-in-a-lifetime shot! A hole-in-one is always cause for celebration - one that can easily turn expensive. The proud golfer is often expected to pay for a round of drinks in the club house after the game - and that usually means digging deep into the pockets. That's where "hole-in-one insurance" provided by Allianz Malaysia comes in to make sure the player doesn't walk away with a hole in the wallet. The financial cost of the celebration is covered. However, insurance for a hole-in-one is just one part of the Allianz Golf Master Insurance Policy, which also offers protection against other losses. Full details on the Allianz Golf Master Insurance Policy can be found here.

Making customers happy, whether that's online or in person. But how high actually are the demands and expectations of customers?

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The Panama canal is one of the most important waterways in the world. Its waters are traversed more than 12,000 times a year by container ships and tankers. The remolding work being done on the canal will be completed in 2015. This will allow much larger ships to use it. This infographic reveals the key facts about the Panama canal.

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"Our most recent studies showed that almost every second accident happens while parking or maneuvering. Of these accidents, three in four occur while reversing, mostly when backing out of a parking space. A frequent cause is the newer car's shape: While parking spaces have more or less stayed the same, cars have become much bigger over the years. Additionally, due to modern requirements for structure and design, the drivers' view through rear and side windows is often restricted."

Dr. Johann Gwehenberger is an accident researcher at Allianz Centre of Technology and expert on parking and maneuvering damages.

Cheering, goals, fans. Soon the new football season will be upon us and the Allianz Arena will once again host exciting matches. Football enthusiasts are looking forward to August 22, the start of the Bundesliga season. 74,000 fans will witness the team's triumphs or defeats. But what does it take to put on a perfect FC Bayern München match? The Allianz Arena info graphic depicts the team behind the team.

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"Disabled people deserve the same chances as those without disabilities. A company's diversity drives creativity, change, innovation and economic success. An environment integrating and supporting the disabled generates a productive work atmosphere. Social labelling - put simply - is entirely out of place."

Clement Booth, Member of the Board Allianz SE

Read the whole article on Allianz Open Knowledge

Red means stop, and green means go! If it was that simple. No matter, if you decide to get from A to B by walking or by driving on two or four wheels - road transport bears many risks. The interactive road safety map shows just as often as road transport can have serious consequences and what to pay most attention to. Interesting facts on road safety statistics and trends worldwide can be found here.

Road Safety Map

"Thrift is truly a virtue", right? The European Central Bank's (ECB) policy of low interest rates costs each German saver 67.62 Euro per annum. According to calculations of the Allianz, the ECB's cash infusions for financial markets caused loss of interest of around 5.4 billion Euro in 2013. In 2014, the amount is forecasted to 5.8 billion Euro. The full Allianz study including the other countries' numbers will be released in September, 2014.

"In a cycling accident a helmet is the only protection for your head. If you are not wearing a helmet, then your risk of suffering brain damage is twice as high as if you had been wearing one. Therefore you should wear a helmet every time you go out on your bike, and not just on longer, pre-planned cross-country cycling tours", advises Dr. Christoph Lauterwasser, head of the Allianz Center for Technology.

Young people may be smarter about saving than their parents. According to a 2014 study, 74 percent of young Malaysians know that they should start saving early for retirement. If you want to find out which other countries are similar to Malaysia, check out our animated infographic:

7 facts on financial literacy that might surprise you ...

7 Allianz investments that might surprise you ...

Allianz is invited to chair the World Economic Forum's Global Agenda Council on the Future of Insurance & Asset Management for the years 2014-2016.

Oliver Bäte, Member of the Board of Management of Allianz SE will represent Allianz as the chairman of the Forum's Global Agenda Council: "I'm very honored by this assignment and will dedicatedly work with this group to help shaping the agenda of the insurance and asset management industry."

Established in 2008, the Network of Global Agenda Councils is a knowledge network that serves as an international brain trust to the World Economic Forum and the world at large.

Image source: Reuters

We have a strong commitment to minimizing environmental impacts across our business. Our climate change strategy commits Allianz to playing a leading role in supporting the development of a low-carbon economy. We achieved our target to become a carbon neutral business in 2012. Our strategy to reduce Allianz's direct carbon footprint includes avoiding emissions, reducing our footprint, substituting conventional sources with lower-carbon alternative and offsetting our remaining emissions through direct investments and forward purchases of credits from selected projects, for example forest protection in Kenya and Indonesia and energy efficiency in India.

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Forest protection projects compensate for Allianz CO2 emissions

The extinction of species is no longer a prospect that belongs to the distant future - and it hasn't been for some time now. More than 3,000 species have been virtually eradicated. Wonders of nature like the Mongolian wild horse, the panda bear or the mantled guereza are things that we'd like our children to experience first-hand. Natural catastrophes or reckless human activity mean that they have virtually no chance of survival. Soon, it is likely that we'll only be able to see the Tasmanian Devil or the Amoy Tiger in animal documentaries or cartoons. Impressive pictures of the Red List and further astonishing facts can be found on Allianz Open Knowledge.

Top 14 endangered animal species

Allianz Open Knowledge

Discovery SPECIAL

June 14th would be the 150th birthday of Alois Alzheimer. He was the first one to describe changes in a woman's brain in 1906 and the disease linked with it carries his name. Dementia is not a specific disease. It's an overall term that describes a wide range of symptoms associated with a decline in memory or other thinking skills severe enough to reduce a person's ability to perform everyday activities. Alzheimer's is the most common form of dementia and accounts for 60 to 80 percent of cases.

The Allianz infographic shows you which impact dementia will have on the people in your continent in the coming years.

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The end of our working life seems to be a long way off - so why should we begin to plan for our retirement now? Well, the sooner we start to put money aside for our old age, the better. As a result of aging societies, increasing expectancy and dwindling birth rates, the likelihood of a substantial statutory pension is decreasing. The pension information map illustrates the sustainability of pension systems in 50 countries around the globe. It is based on the Pensions Sustainability Index drawn up by Allianz International Pensions, as well as on external data. The need for reforms is increasing - as move in the graphic from green to red demonstrates.

You can find the map here

Sources: Allianz International Pensions & Allianz Global Benefits with external input.

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… just like our overview of matches for the World Cup 2014. The first ball will be kicked on June 12th and Germany is already gripped by football fever! The opening match sees host Brazil play Croatia, but how are you going to remember so many teams, the stadiums and cities? Quite easy in fact: with the uniquely and beautifully designed match plan, compliments of Allianz Open Knowledge and the Allianz's customer magazine - 1890. Simply download and print it now!

Free of use if source is named allianz.com

Download here

Allianz Open Knowledge

The world's biggest container ship measures almost 400 meters. This almost matches the height of Dubai's Princess Tower, which happens to be the tallest residential building on earth, measuring a dizzy 414 meters.

But what happens if these gigantic sea vessels fail to reach their destination or if their cargo is damaged, or even when these ocean giants actually sink? This diagram shows the different container ship sizes (TEU = standard container) and the corresponding insured vessel values (in US dollars per million).

Shipping losses decline, new risks emerge

Classic risks, new risks

The moment when something goes wrong and all you can do is shout "Ahh!" in surprise. See what our colleagues in Australia have made of this moment in their hilarious advert.

Go and see the 2014 spot

69 percent of all Allianz employees in Eastern Europe are women. This percentage has not changed since 2011. Thus, Allianz entities in the East have a much higher share of women in their staff as all other regions in the world. The workforce of Allianz in Asia Pacific is also pretty feminine: in 2013, 55 percent of all employees were women.

All in all slightly more women than men are employed by Allianz; the exact number: 53 percent.

More on Allianz employees

Allianz Global Corporate & Specialty (AGCS) is the leading reinsurer for the construction of the world's tallest building - the Kingdom Tower in Jeddah, Saudi Arabia.

The kilometer-high giant will be insured at a value above USD one billion by AGCS. The building will be three times as high as the Eiffel Tower with 324 meters. With these impressive measurements the house of offices, apartments and a hotel surmounts the current tallest tower worldwide by 170 meters. Picturing the building's amenity is possible at its 502 meter-high viewing platform by 2019.

Renoir returns

Shipping losses decline, new risks emerge

Investors held 456.5 million shares of Allianz stock by the end of 2013. This includes hundreds of thousands of individuals as well as numerous institutional investors that service mutual, pensions and other funds that millions more people invest in. Investors are especially drawn to the consistent and attractive dividend Allianz pays. Because of the successful results in 2013, the Allianz Board of Management has proposed to raise the dividend to 5.30 euros per share, 18 percent up from 4.50 euros the year before.

Allianz is the world's leading auto insurer. Around 50 million cars are insured at Allianz. We cooperate with more than 40 car brands in over 20 countries. This makes Allianz a leading auto insurer across the world. Investments in environmentally friendly cars, replacement vehicles for clients in need and partnerships with organizations like Formula One round off our commitment to mobility.

The future of buying a car

E-driving is good and fun

Since the existence of cars many items have been kept in glove boxes. From mirrors to small revolvers for dangerous drives on deserted highways. Why specifically the glove has proven itself successful as eponym, is revealed in our Discovery of the Week. This and even more astonishing facts are found on Allianz Open Knowledge.

Glove box

The future of buying a car

Sustainability is a very important subject for Allianz. Today we make promises to our customers that we have to keep in the future. Our video explains how we manage to do this.

More on Sustainability on allianz.com

It's that time again! When spring comes, the convertibles awaken from their winter hibernation. Nothing is better than a sunny day in a convertible. The downside: When the weather is bad, there is little joy, and the rooftop stays shut. But what if there were a sunshine guarantee? Say the driver gets some compensation when the skies go gray? Disappointed motorists can even get that bad weather risk covered in some markets though their manufacturers. At a certain point in the year, for example, they can get 100 euros per rainy day as a little consolation for Mother Nature's more sullen moods when folks want to drive with the top down.

Read more in the Study "The Weather Business"

Fresh water has no substitute-and only a fraction of today's supply is safe for consumption. Given a fast-growing world population, the massive urbanization of developing nations and poor infrastructure in developed countries, the need for water is set to grow exponentially.

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Piracy attacks are still a concern. In 2013, piracy attacks declined by eleven percent to 264 reported incidents worldwide according to International Maritime Bureau statistics. The AGCS Shipping Review 2014 suggests the piracy model could be broken in Somalia in a couple of years if naval patrols continue.

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As a long-term insurer and investor, sustainability has been a part of Allianz's business for more than 120 years. Many sustainability issues influence our daily work, presenting both challenges to overcome and opportunities to capture.

Have you ever wondered why and how a company like Allianz addresses them? Find out how we respond to the different issues, from A for alternative energy to D for diversity, and from M for Microinsurance to Z for zero emissions.

and make sure you come back to allianz.com/sustainability on March 14 to read the full 2013 Sustainability Report.

The ambitious Paralympian Anna Schaffelhuber is competing as a German medal hopeful in the category monoski at the Paralympics in Sochi. The video shows Anna explaining that she has found her calling and passion in skiing.

"London 2012 was a turning point in the history of the Paralympics: The joy at all the athletes' successes took center stage for everyone. This spirit is what makes Paralympic sports truly unique and I hope that this sprit is carried on in Sochi. Allianz wishes all Paralympians lots of fun and success," says Joe Gross, head of market management for Allianz SE.

The Hollywood production "Pompeii" is opening in theaters on February 27th. On the occasion we have dug up an infographic showing the volcanic eruptions that have been most dangerous for people. The eruption of Vesuvius in the year 79 as shown in the movie is on 10th place.

"Motor business is an important source of premiums. The market volume is 50 billion US dollars - the largest in the world! About 45,000 cars are sold every day. Last year the mandatory third-party motor liability insurance sector was opened to foreign insurers. Since then, foreign insurers have been able to provide the whole spectrum of motor products to customer". (Allianz China General Insurance CEO Peter Nestmann)

The fear of hacker attacks is rising. This is shown by the infographic "hidden risks" from the Risk Barometer by Allianz Global Corporate & Specialty (AGCS). Attacks from hackers were long underestimated by the business world. They have now made a big jump and appear in the Top 10 of the AGCS Risk Barometer for the first time. Which risks are more important and which ones are less relevant in 2014 are shown in this graphic.

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This is the sum Allianz has invested in renewable energies in the past year according to David Jones, Head of Renewables. Allianz's total investments in this area accumulate to 1.7 billion euros. The portfolio of Allianz Capital Partners (ACP) now comprises 42 wind farms in Germany, France, Italy and Sweden and seven solar parks in Italy and France.