4 Corporate Governance / Compliance

Compliance (G4-DMA, G4-SO4, G4-14 e G4-HR1)

Allianz Seguros created the Compliance Department in 2010 and, as in the Allianz Group, works to ensure that the company's principles are followed by managers, employees and business partners. The Department implements and creates mechanisms to establish a communication channel for the Ethics Committee in order to identify and analyze possible questions or cases of violation related to this aspect.

The Compliance Department also conducts refresher courses concerning Allianz Seguros’s ten Global Compliance Programs, such as Anti-Corruption, Anti-Fraud, Money Laundering Prevention, Regulatory Compliance, and Antitrust. In 2015, a total of 96 training courses were conducted on the topic, totaling 114 hours. To ensure that not only the company's employees comply with laws and rules of ethics and compliance, Allianz conducts an integrity analysis of third parties with which it operates. The topics include from third party profile, adoption of anti-corruption and ethics programs, code of conduct, information on compliance with labor legislation to initiatives that involve child and bonded labor.

5 Corporate Governance / Sanctions and Embargoes (G4-14, G4-SO6)

Allianz Seguros follows international guidelines signed by the Allianz Group, imposed by the European Union and by the United States against nations classified as sanctioned, such as Iran, Syria, and Sudan. All businesses connected to sanctioned countries are subject to prior approval by the manager of Allianz’s Compliance Department and, in some cases, must be submitted to the Allianz Group.

The Allianz Group also carries out screening in order to identify, with support of stakeholders and nongovernmental organizations, the businesses it considers sensitive or that pose risk to operations in the world. A total of 13 sectors of the economy were determined for which the company conducts a meticulous assessment before contracting any type of insurance. Frequently, the company imposes improvement terms and best practices for the business to be carried out. These sectors include: companies that conduct tests on animals, gambling, weapons, nuclear energy, and mining.