Allianz controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2025
Australian travel-insurance misrepresentation case
The Supreme Court of New South Wales convicted Allianz Australia Insurance Limited and AWP Australia Pty Ltd for publishing travel-insurance information that failed to adequately disclose sub-limits, exclusions and conditions. The court imposed total criminal fines of A$16.8 million and ordered payment of investigation costs.
2022
Structured Alpha securities-fraud case
The United States Securities and Exchange Commission found that Allianz Global Investors’ US business and former portfolio managers misled institutional investors about the downside risks and performance of Structured Alpha funds. The funds suffered catastrophic losses during the March 2020 COVID-19 market turmoil. Allianz and its subsidiaries agreed to a global resolution involving penalties, restitution and the closure or transfer of the affected business.
2021
US Justice Department investigates Allianz fund managers
Investigation
The US Justice Department is investigating managers of Allianz Global Investors' Structured Alpha Funds. The investigation concerns whether the managers abandoned protections against a market collapse and how they communicated investment risks to investors. The Justice Department and Allianz declined to comment on the nature of the investigation.
Source excerpt
消息人士指出，美司法部正在調查安聯環球投資(Allianz Global Investors)旗下的結構性阿爾法基金(Structured Alpha Funds)經理們，他們是否放棄了防範市場崩潰的保護策略，以及他們如何對投資人傳達風險的程度。
美國司法部對德國保險公司安聯(Allianz)的調查，目前正進行調查基金經理人可能的不當行為，以及其對投資人有關風險的錯誤陳述。
2021
Washington sues Allianz over mental health coverage exclusions
Lawsuit filed
Washington state sued Allianz, alleging that its travel insurance policy discriminated by excluding mental health issues from coverage. The lawsuit seeks restitution for denied claims and an order barring Allianz from enforcing the policy in Washington; these are allegations, not a reported court determination.
Source excerpt
WASHINGTON - Washington state is suing the travel insurance company Allianz, saying that its policy of excluding mental health issues from coverage is discriminatory.
The lawsuit, filed in King County Superior Court, seeks restitution for the denied claims and an order barring Allianz from enforcing its policy in Washington.
In a lawsuit filed Thursday, Attorney General Bob Ferguson said the company refused to cover 485 claims from Washington residents from January 2014 to August 2019, including cases where people had to cancel or change travel plans due to an Alzheimer’s diagnosis or due to a family member’s attempted suicide.
1933
Allianz involvement with Nazi Germany and Aryanization
During the Nazi period, senior Allianz executive Kurt Schmitt served as economics minister, while Allianz supported Nazi institutions, participated in the forced transfer of Jewish-owned insurance businesses and insured SS-related industrial and concentration-camp activities. The company benefited from the regime’s persecution and expansion. Allianz’s later historical work has addressed this period through archival research and public acknowledgment.