Allianz Trade Specialty Credit Social2Social

Unlocking the full-circle benefits of social impact

Specialty Credit is a tailored insurance solution designed to help multinationals, financial institutions, export credit agencies and multilaterals mitigate and manage risks. These risks can relate to non-payment, contract interruption, confiscation and other factors affecting organizations operating on a global scale. It allows them to manage their exposures and take advantage of opportunities in new markets.

“For decades now, we collaborate with global institutions and partners dedicated to fostering positive social impact, underwriting policies that empower them to expand their programs. Managing short-to-long-term transactions, political risk and highly concentrated risks from large contracts and structured deals is becoming more complex. Our impact underwriting capabilities are therefore becoming instrumental for these players. As an insurer and corporate citizen, we decided to do more to drive the virtuous cycle of social impact, and have therefore created Specialty Credit Social2Social”, explains Pierre Lamourelle, Deputy Global Head of Specialty Credit & Midterm at Allianz Trade.

Protecting the corporates, banks, authorities and multilaterals that act for positive impact

With Specialty Credit Social2Social, Allianz Trade acts all along the value chain of social impact, from risk transfer to supporting the rise of new projects.

“First, thanks to the policies we issue for our clients, we allow them to engage in projects that address or mitigate a specific social issue. It could be a contribution to universal higher education with new school construction, or to public health with hospital projects. Second, the premium generated through Social2Social policies are held as investments in certified social bonds. We are therefore creating a circular model that continually fuels social progress. Of course, the whole process is conditioned to a rigorous assessment led by our sustainability experts, in order to ensure that the transaction at hand meets our criteria”, adds Florence Lecoutre, Board Member in charge of Sustainability, Data Analytics & AI, Human Resources, Compliance and Communications at Allianz Trade.

Beyond climate goals to include social responsibility

To be certified as a Social2Social project, a transaction must fit in at least one of the following categories: it should provide affordable basic infrastructure and essential services; affordable housing; socioeconomic advancement and empowerment for underdeveloped areas or disadvantaged communities.

“Like Green2Green in the past, we’re proud to see Social2Social certified as a sustainable solution2 by our parent company, the Allianz Group. We first marked our commitment to support the Net-Zero transition of corporates and the overall economy, and we now take it one step further. With Social2Social, we approach sustainability in its virtuous scope, with social responsibility at its core. This holistic view reaffirms our dedication to supporting positive social impact. It’s an instrumental milestone in our efforts to align financial security with sustainability principles”, ends Aylin Somersan Coqui, CEO of Allianz Trade.