As already announced at the Annual General Meeting in May 2015, Allianz is publishing its targets for the proportion of women in top management positions in Germany today.
The Supervisory Boards of Allianz SE and the other Allianz companies subject to co-determination in Germany have set the following targets for the proportion of women in Board of Management positions in the period leading up to June 30, 2017: the target quota for the Board of Management of Allianz SE is 11 percent; the target quotas for the Boards of Management of the other Allianz companies subject to co-determination in Germany average 18 percent. These targets are based largely on the status quo, since the first statutory implementation period only runs until mid-2017 and it is not feasible to interfere with current Board appointments. The Supervisory Board of Allianz SE has, however, already announced the intent to increase the proportion of women in the Board of Management of Allianz SE to at least 20 percent until the end of 2018.
As far as the proportion of women in the first two levels below the Board of Management is concerned, the Board of Management of Allianz SE and the other Allianz companies subject to co-determination in Germany have set a target quota of at least 20 percent, to be achieved by June 30, 2017, unless individual companies have already reached a higher proportion. Currently women account for an average of 15 percent of positions at the first level below the Board of Management, and 17 percent at the second level. Allianz is aiming to fill at least 30 percent of positions at these two management levels with women in the longer term.
The statutory 30 percent quota that applies, as of January 1, 2016, to the Supervisory Boards of listed companies subject to co-determination is already met by the listed Allianz companies in Germany, Allianz SE and Oldenburgische Landesbank AG. Based on the status quo, the Supervisory Boards of the other non-listed Allianz companies have set a minimum quota averaging 29 percent, to be reached by mid-2017.
Targets that go beyond the statutory requirements
With regard to the German Act on the Equal Participation of Women and Men in management positions (Gesetz für die gleichberechtigte Teilhabe von Frauen und Männern in Führungspositionen), Oliver Bäte, CEO of Allianz SE, said: "Everyone needs to be aware of the fact that it's not just about meeting statutory requirements. As a company, we can only be successful in the long run if we provide equal career opportunities to women and promote women to leadership positions based on their performance."
Established measures to promote women in management at Allianz