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Allianz Legal Entity Structure

30 września 2022 0

Want to learn more about organizational structures and the role they play in modern organizations? Here are some useful blog resources to help you get started: Allianz SE publishes its annual financial statements as well as its consolidated financial statements on an annual basis. Allianz SE`s annual report (annual financial statements) concerns only the Munich-based holding company „Allianz SE”. Since 2006, the legal form of Allianz SE has been that of a European company (Societas Europaea). The annual accounts of Holding Allianz SE are drawn up in accordance with the provisions of the German Commercial Code (HGB). The Supervisory Board is composed of 12 members, 6 of whom have been appointed by shareholders and 6 by employees. Unlike German law, the legal form of an SE does not require that the supervisory board be composed equally of employees` representatives and employers` representatives. However, Allianz will continue to apply the principle of equal representation, according to which employee representatives from different European countries are members of the Supervisory Board. The Chairman of the Supervisory Board is Michael Diekmann. You can download the CSV file of the organizational structure of the alliance, import it into Organimi and start editing this diagram immediately! Here`s how it works: Very broad-oriented organizations, like Allianz, tend to prefer functional organizational structures because they streamline the management of different business units and make operations more efficient. Functional structures also help employees achieve their goals and collaborate more consistently, as the functional organizational structure brings together people with similar and complementary knowledge and skills. As we can see in the organizational structure of the alliance, parts of the company, including subsidiaries and other units, have been divided into specialized groups (H1 to H5) and product and service areas (i.e. H6 to H10). These groups are commonly referred to as „silos” because they operate independently of each other and have their own management structures.

Therefore, it can be said that allianz works with a functional organizational structure. A functional organizational structure is a type of knowledge-driven organizational structure used to organize and group employees based on their specific skills. It is loosely based on a typical hierarchy and includes different departments under the direction of defined executives. Due to the change in legal form, the Codetermination Act no longer applies to Allianz SE. The size and composition of the Supervisory Board are now determined by the European General Se Regulation. These provisions have been implemented in the articles of association and through an agreement on employee participation in Allianz SE. On 13 October 2006, Allianz AG acquired the legal form of a European company (Societas Europaea – SE) through the merger with its Italian subsidiary Riunione Adriatica di Sicurtà S.p.A. and subsequently operates under the name Allianz SE. Allianz was the first company in the EURO STOXX 50 index to adopt the legal form of a European company. Allianz SE shares were first traded on 16 October 2006.

The legal form of a European company contributes to a uniform European image of Allianz and simplifies restructuring efforts within the Group. Allianz SE is based in Munich. The issues of corporate governance, control and transparency are summarized under the heading „Corporate Governance”. A company`s corporate governance structure is determined by a diverse regulatory framework characterized by legal requirements, market self-control mechanisms, and company-specific principles. In addition, in accordance with item 9 of the agenda of the Annual General Meeting of 9 May 2018, management has received approval to acquire own shares of up to 10% of the share capital for other purposes. The acquisition may be made on the stock exchange or by way of a takeover bid or in exchange for shares in a listed company. The legal basis for this authorisation is § 71 (1) No. 8 AktG. This authorization is also limited to May 8, 2023. In accordance with the authorization provided for in item 10 of the above-mentioned agenda of the Annual General Meeting, own shares of up to 5% of the share capital may be acquired through put and call options or forward purchases. Allianz Group`s strategy is to meet these global needs by implementing global business structures in a single segment. Allianz Global Corporate & Specialty therefore operates through a network of local branches and insurance companies within and outside the Allianz Group, which divest businesses to AGCS SE.

The European company (also: Societas Europaea – SE) is a legal form for EU companies. It was adopted on the basis of Council Regulation (EC) No 2157/2001 of 8 October 2001 on the Statute for a European company (SE) (`) and Council Directive 2001/86/EC of 8 October 86/EC of 8 October 2001. October 2001 supplementing the Statute for a European Company with regard to the involvement of employees`. As a European company, Allianz SE is subject to the special European SE regulations and the SE Implementation Act, in addition to the German Joint Stock Company Act. In addition, Allianz shares are included in the Dow Jones Sustainability and FTSE4Good. Allianz SE issues registered shares with limited transferability. According to the German Law on Joint Stock Companies, companies with registered shares only consider persons registered in the company`s share register as shareholders. Allianz Global Corporate & Specialty SE (AGCS SE) is a global company based in Munich, Germany, integrated into a network of various companies in Europe, North and South America, Asia-Pacific and South Africa that reflect the global needs of our commercial and specialty insurance clients.

The limitation on the transferability of shares dates back to the founding of the alliance in 1890.

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