Sydney, 3 July 2008

The Allianz Group has been added to the second annual "World's Most Ethical Companies" list compiled by Ethisphere. The Ethisphere Institute is a think-tank dedicated to the research and promotion of profitable best practices in global governance, business ethics, compliance and corporate responsibility. In the institute's second annual "World's Most Ethical Companies" list, Allianz has been recognized as the "Most Ethical Insurance Company".

Nicholas Scofield, General Manager Corporate Affairs, said “Allianz is honoured to have been recognised as one of the most ethical companies in the world and, in particular, as the Most Ethical Insurance Company”.

Alexander Brigham, executive director of Ethisphere Institute, said "we applaud Allianz. The Allianz Group is among the companies honoured this year because they have developed impressive and meaningful ethical business practices, making them true standouts within their industry."

“They go well beyond legal minimums, opting instead to bring about innovative ideas that contribute to the public well being. By their actions, they are forcing their competitors to follow suit (or fall behind) and truly embodying the notion that ethical business practices are more profitable in the long run."

To determine the more than 100 finalists, researchers and analysts reviewed over 10,000 of the world’s leading companies on six continents. Ethisphere analysts reviewed codes of ethics, litigation and regulatory infraction histories; evaluated investment in innovation and sustainable business practices; looked at companies’ activities to improve corporate citizenship; studied nominations from senior executives, industry peers, suppliers and customers; and worked with consumer action groups for feedback and rating.

The 2008 World's Most Ethical Companies methodology committee is comprised of leading attorneys and government officials, professors and leaders who care about ethical and honest business practices.

Mr Scofield said, “For Allianz, being in business is more than just about delivering high quality and competitive products and services, it is also about being a force for good in the communities in which we operate and society generally.”

“This is why Allianz takes a global leadership position in terms of social responsibility through initiatives such as microinsurance in developing countries, partnering with the International Paralympic Committee, climate change (eg the United Nations Environment Program Finance Initiative) and the Allianz Knowledge Initiative.”

“In Australia, Allianz and its staff our proud to support charities like Open Family Australia, Camp Quality, The Smith Family, Cure Cancer Australia, The Salvation Army, Assistance Dogs and the RSPCA, and in Australia, the Breast Cancer Foundation.”

“Allianz’s commitment to ethics and ethical conduct by our employees is the foundation stone of the way we operate in our business relationships, community partnerships and our social engagement more generally.”