Modern Slavery Statement

The nature of the financial services industry limits the exposure of P&C and AWPA towards modern forms of slavery, human trafficking or child labour, as the tasks carried out require regular training and often regulatory licenses or specific certifications, which cannot be achieved under the usual circumstances of slavery.

As the financial services industry does not use raw materials or produce goods, the exposure to supply chain risks is relatively limited.  Where goods such as stationery or promotional items are ordered, P&C and AWPA are obliged to assess the various risks relating to the parties offering these goods. P&C and AWPA have carried out a review of, and will continue to monitor new and existing suppliers.  To date, to our knowledge, no incidents of modern slavery, human trafficking or child labour have occurred in our supply chain.

AWP is committed to a transparent and robust procurement process.  Allianz Group entities have a vendor integrity screening and anti-corruption framework which looks at various elements such as prevention of corruption, bribery and other forms of non-compliance including modern slavery, human trafficking or child labour.

In addition, a globally accessible Vendor Code of Conduct (VCOC) exists which reflects Allianz’s clear commitment to the UN Global Compact’s Ten Principles (a framework of ten principles in the areas of human rights, labour, the environment and anti-corruption).  It requires all suppliers to promote respect for these rights both internally and across their supply chain through their actions and by engaging with governments of the countries in which they operate.  The VCOC also seeks to ensure essential Human Rights are maintained and the Standards of the International Labour Organisation are adhered to.

AWP also maintains a system of quality assurance and auditing activities which cover the internal controls to ensure the implementation of adequate control for various types of task across the different lines of business. 

The principles and values mentioned above are also reflected in the Allianz Code of Conduct for Business Ethics and Compliance (ACOC).  The ACOC sets out the minimum standards of behaviour expected from Allianz staff, in order to maintain trust and integrity.  Upon commencement of employment with AWPA all staff must confirm that they accept and will adhere to the ACOC.  All new joiners are subject to compliance induction training which includes modern slavery and other areas covered by the ACOC. P&C and AWPA have published  an Anti-Slavery and Human Trafficking Functional Rule, which will apply to all our staff and further reinforce our zero-tolerance approach to modern slavery and commitment to acting ethically and with integrity in all our business dealings and relationships.

Whilst the above-mentioned activities are being carried out by P&C and AWPA, we continue to look at how we can further mitigate the risk of modern slavery in all its forms in our supply chain, thus ensuring that we are doing everything possible to identify and mitigate such risk.