Press release -
Allianz becomes the first insurance partner of Solar Energy UK
Allianz has taken a strategic focus on renewable energy
At a time when the UK is looking to rely on renewables more than ever, Allianz Insurance is delighted to announce that it is the first insurance member of Solar Energy UK. The established solar and energy storage trade association, with its 256 members across the value-chain, is working to treble the UK’s solar capacity to 40GW by 2030.
Allianz is committed to helping shape a more sustainable future and in the past year has launched numerous initiatives, including: the Net Zero Accelerator – helping brokers to measure and reduce their carbon footprint, partnering with Synetiq for sourcing green parts for motor claims, and having all UK offices run on renewable energy. And now, as part of Solar Energy UK, Allianz can continue to contribute further to the transition to a cleaner and more sustainable future.
Membership will enable Allianz both to better support its Solar Power insurance customers, and to help Solar Energy UK and its members to understand the key risks that the industry faces.
Cherry Parker, Director of Business Development at Solar Energy UK, said: “We're delighted to welcome Allianz onboard as our first associate member.”
“It's impressive to see Allianz reinforcing its credentials for decarbonisation and seeking to grow its services portfolio in the fast-growth solar energy and storage industry.”
Steve Kelly, head of insurance for Allianz Engineering, Construction and Power, said: “We are very happy to be the first insurer member of Solar Energy UK and we hope we are not the last.
“No doubt other insurers and brokers will follow suit, not necessarily with Solar Energy UK, but with other trade associations or groups that promote and support the path to a more sustainable way of doing business.
“Solar Energy UK is a great fit for Allianz. We already have diverse engineering and insurance expertise within the renewable energy sector, but we want to build on that to be a leading force in the insurance industry.”
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About Allianz Holdings plc
Allianz Holdings plc is the non-regulated holding company which owns the principal insurance operations of Allianz SE in Great Britain including Allianz Insurance plc.
About Allianz Group
The Allianz Group is one of the world's leading insurers and asset managers with more than 100 million* private and corporate customers in more than 70 countries. 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 790 billion euros on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage 1.7 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are amongst the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2020, over 150,000 employees achieved total revenues of 140 billion euros and an operating profit of 10.8 billion euros for the group.
*Including non-consolidated entities with Allianz customers
These assessments are, as always, subject to the disclaimer provided below.
Cautionary note regarding forward-looking statements
This document includes forward-looking statements, such as prospects or expectations, that are based on management's current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements. Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz Group's core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates, most notably the EUR/USD exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions including and related integration issues and reorganization measures, and (xi) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.
No duty to update The Allianz Group assumes no obligation to update any information or forward-looking statement contained herein, save for any information we are required to disclose by law.
