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Allianz Annual Report 2013

Annual Report 2013    Allianz Group 63 C Group Management Report Your Allianz 49 Business Operations and Markets 56 Strategy and Steering 59 Progress in Sustainable Development Ethics 1 Our integrity calls upon us to make only promises we can keep and take only risks we can manage. Good corporate governance and transparency are key to gaining and keeping the trust of our stake- holders. COMPLIANCE MANAGEMENT In 2013, we continued with measures to further strengthen the effec- tiveness of compliance management by enhancing quality assur- ance, global reporting on compliance risks and independent reviews of key elements of our compliance program. ­Allianz applies its gen- eral operational risk management approach to assess corruption and fraud risks. Additional assessments and on-site reviews are com- bined with the new Compliance Quality Assurance Program. Rolled out in 2012, the program consists of self-assessments, on-site reviews and monitoring via reporting. It verifies the implementation and effectiveness of ­Allianz’s Compliance Management System, which includes the Anti-Corruption Program, across the Group. The implementation and maintenance of the ­Allianz Anti-­ Corruption Program, which is compulsory for all employees, contin- ued in 2013. It aims to inform employees about ­Allianz’s main anti- corruption and anti-fraud rules, the essentials of our anti-corruption and gifts and entertainment policies, and our anti-fraud principles. Training about anti-discrimination and anti-harassment procedures is also offered, in alignment with local legal requirements. Trust and transparency One of the aftereffects of the banking and European sovereign debt crisis is that the insurance industry has been confronted with an increasing degree of regulation. All-time low interest rates and mar- ket insecurity and volatility remain critical factors for our business and particularly for our customers. Our main goal when interacting with governments is to contribute solutions to socio-political issues and create a stable political and economic landscape that will ben- efit our customers and us over the long term. For example, we are engaging in discussions on the impact of low interest rates on savings and old-age provisions and facilitating investments in a low-carbon economy. Headquartered in Germany, ­Allianz SE is committed to the coun- try’s long lasting democracy. Thus, we contribute to democratic political parties in the German Parliament (Bundestag) representing a variety of views within the political spectrum and supporting the social market economy. Our policy governing corporate donations to political parties in Germany rules that all contributions are made annually on 1 July to ensure that they are in no manner connected, or perceived to be connected, to any legislative initiative or elections. In 2013, we contributed a total of € 150,000. 1 More information can be found online at www.allianz.com/sustainability/ethics.

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