Markus Stowasser (Allianz SE | Head of Cat CoC Research & Development – Allianz Re)
Allianz in the light of Global Climate Change
(Der Vortrag wird auf Deutsch gehalten.)
I will give some insights in how Allianz is dealing with climate change from a business and risk management perspective. By joining the Science Based Targets initiative, Allianz committed to set long-term climate goals for its operations and proprietary investments, in line with the Paris Agreement’s target to limit global warming to well below 2°C. Focus will be on natural catastrophe modelling in the Cat Risk Management function of Allianz Reinsurance, the in-house reinsurer of Allianz Group. Here 48 scenarios are monitored worldwide to ensure adequate risk capital at Allianz Group in case of severe natural catastrophes. Top risk drivers are atmospheric perils such as European wind storms, tropical cyclones in Australia and flood and hail events in Germany. The underlying natural catastrophe modelling concepts and approaches to assess the impact of climate change on the insurance industry are presented.