Large multinational corporations like Allianz are increasingly rated or ranked by non-profit organizations. Why do these rankings matter?
Jung: We do care about these ratings - both regarding the strength of our financial results and our business strategy, but also with respect to sustainable development or transparency requirements. Independent ratings serve as yardsticks that help us to achieve our objective of being perceived as a trusted financial services provider and attracting the right talent as well as investor base.
Lösler: Transparency International has a unique standing when it comes to fighting corruption and bribery. They perform regular assessments of countries and of all major companies and Allianz has been a supporter and dialog partner of Transparency International for many years. They have good insight in our anti-corruption efforts and we apparently meet their expectations.
So what made Allianz score well in the Transparency International rating?
Lösler: Our Anti-Corruption Program and our organizational transparency were highlighted by Transparency International. We were able to explain and to provide evidence showing that Allianz is actually delivering on its promises and that our management and employees are working hard to prevent non-compliance.
Jung: Part of our success is the fact that many functions have helped to put a very highly respected Anti-Corruption Program in place. We know that a good compliance program is key to protect the company from harm and has a positive impact on our reputation. Incidentally, it also helps our merchandise, as more and more customers, investors and business partners screen their service providers and partners on integrity topics. Another aspect is that Allianz is experiencing strong growth in many emerging markets. It is essential for us that the rule of law always prevails in these markets, and all of our other markets - and combating corruption strengthens the rule of law.
