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Allianz switches to hybrid power with new Toyota and Lexus vehicle fleet deal

Press release   •   Apr 06, 2020 13:00 BST

Stephen Craig, Toyota Regional Fleet Sales Manager and Bettina Gross, Head of Procurement, Allianz Insurance

As part of its commitment to create a sustainable future, Allianz Insurance has announced a new vehicle fleet deal with Toyota and Lexus.

The agreement, which will run until 2023, will see the Insurer switch to hybrid power with the Toyota and Lexus vehicle fleet deal.

Allianz will receive a delivery of up to 200 vehicles a year as it transitions its vehicle fleet away from diesel power to Toyota’s self-charging hybrid technology. The new arrangement also supports UK automotive manufacturing, as the models will include the new Toyota Corolla and Corolla Touring Sports, both of which are built at Toyota’s factory in Derbyshire.

Allianz has more than 800 Employee Fleet company car drivers, which meet the prerequisite of covering 8,000 miles a year. The Employee Fleet will include Allianz’s team of Engineer Surveyors who in an average year travel more than 6,000,000* business miles, so the new move to hybrid power is expected to significantly reduce environmental impact.

Reliability was also a key consideration, addressed by the proven reputation of Toyota and Lexus hybrids for lasting quality and problem-free performance.

Bettina Gross, head of procurement, Allianz Insurance, said: “At Allianz we are committed to creating a more sustainable future. I’m delighted that our large vehicle fleet is a key area of our business where we can take positive steps to reduce our environmental impact.

“We have been impressed by the real-world efficiency of the Toyota and Lexus hybrids, the quality of the vehicles and the reliable and thorough support the company provides for its fleet customers.”

Stuart Ferma, General Manager Toyota and Lexus Fleet Sales, said: “Our fleet customers need to be sure that they are not only making an environmentally sound choice, but that they can also count on the quality, durability and reliability of the vehicles, economic running costs and comprehensive support services. We’re delighted that Allianz has chosen Toyota and Lexus hybrids and look forward to building a successful relationship with them as a valued fleet customer.”

The Allianz Group is the number one insurer in the Dow Jones Sustainability Index. It has been carbon neutral since 2012 and is committed to sourcing 100% of its global electricity needs from renewable sources by 2023. In 2018 Allianz announced it would be withdrawing from insuring coal-fired power plants or individual coal mines as part of a drive towards a low carbon economy and the Group are founder members of the UN backed Net-Zero Asset Owner Alliance.

ENDS

Notes to Editors

* Figures refer to an average business year and do not take into account the impact of Covid 19.

The information contained in this press release relates to Allianz Insurance plc. Allianz Insurance plc is one of the largest general insurers in the UK and part of the Allianz Group.

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 80 countries achieved total revenues of 131 billion euros and an operating profit of 11.5 billion euros for the group.

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.

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