Gender Pay Gap Report 2024

AWP Health and Life SA Irish Branch (trading name Allianz Partners) is committed to creating an inclusive workplace with equal opportunities for all and to building a diverse workforce when it comes to gender balance, disability, nationalities/ethnicities, generations, and LGBTQ+ globally, as well as social diversity. We share this commitment with the Allianz Group overall.

We take the principle of fair pay very seriously, ensuring equal pay for equal work for women and men in the same or comparable roles in each of our companies. The Allianz Group runs an annual global equal pay review process to monitor and act on equal pay across the organization. Equal pay is now embedded in our HR processes and has become an important pillar of our commitment to gender equality, equity and fairness. The Allianz Group has verified that it and its subsidiary companies are applying equal pay principles, i.e. that our people are paid equitably, irrespective of gender, for the same work.

In 2024, the Allianz Group was accredited as a Great Place to Work. This was in part due to our commitment to inclusiveness. 90% of our employees agree that ‘our company values diversity (e.g., age, gender, disability, nationality/ ethnicity, sexual orientation, language, education qualifications)’.

Under the Gender Pay Gap Information Act 2021, Allianz Partners reports annually on its Gender Pay Gap in Ireland.

The difference between Equal Pay and the Gender Pay Gap
Equal Pay simply means there is no differentiation in employee remuneration because of gender. The application of equal pay principles ensures that women and men doing the same or comparable work are paid equitably. Under Irish government rules, the Gender Pay Gap measures the broad average and median of pay for men and for women across the organisation. The Gender Pay Gap takes no account of the different roles that may be occupied by men and women. An organisation applying Equal Pay principles can still have a Gender Pay Gap. This is because Equal Pay requires equitable treatment within roles and positions, while the Gender Pay Gap does not take account of different roles and positions.The Gender Pay Gap at Allianz Partners in Ireland
This document sets out the Gender Pay Gap metrics required by the Irish government under the Gender Pay Gap Information Act 2021. The reason for a Gender Pay Gap in Allianz Partners in Ireland relates to a comparatively high proportion of men in some of the most senior positions in Allianz Partners in Ireland, creating comparatively higher average pay for men than for women. It should be noted that many women holding senior positions are employed by Allianz Partners entities outside of Ireland and therefore have not been included in the report.Our Gender Pay Gap Metrics
The results below set out the gender pay gap metrics for Allianz Partners in Ireland, with a snapshot date of 30 June 2024 and a reference period of 1 July 2023-30 June 2024. In the period under consideration, our headcount was 783, of whom 473 were women and 310 were men. This included 23 part-time employees and 7 temporary employees.

Our mean gap on hourly remuneration (total earnings) remains within the range that has been seen since gender pay gap reporting commenced in 2022 and is approximately consistent with the national gender pay gap in Ireland. On a median basis (comparing the middle-paid man with the middle-paid woman) our gap is below the national average.

Entity: Allianz Partners / Year: 2023 to 2024

All employees

Hourly Remuneration

Lower Quartile

Lower Middle Quartile

Upper Middle Quartile

Upper Quartile

Bonus Receivers

Bonus Gap

Benefits in Kind

Mean

Median

Mean

Median

11.1%

7.0%

34.2%

65.8%

36.2%

63.8%

47.4%

52.6%

40.5%

59.5%

95.8%

93.2%

32.9%

3.3%

80.3%

80.8%

Entity: Allianz Partners / Year: 2023 to 2024

Part-Time employees		Temporary Contracts
Hourly Remuneration		Hourly Remuneration
Mean	Median	Mean	Median
-80.2%	-45.9%	-32.8%	-38.8%

Understanding the definitions
Hourly Remuneration refers to the difference in total earnings between men and women on a mean (average) and median (middle ranking) basis across all our employees. A positive percentage indicates a gap in favour of men. A negative percentage indicates a gap in favour of women.
Bonus Receivers sets out the proportion of men and of women who receive any form of bonus. ‘Bonus’ for this purpose includes vouchers and share awards as well as regular performance bonuses.
Bonus Gap refers to the gap between men and women on the value of all bonus items taken together, across all employees who received a bonus.
The lower quartile sets out, in respect of the lowest paid quarter of our people by hourly remuneration, what percentage are men and what percentage are women.
The upper quartile sets out, in respect of the highest paid quarter of our people by hourly remuneration, what percentage are men and what percentage are women. The same logic applies to the lower middle quartile and the upper middle quartile.
Benefits in kind sets out the percentage of our people who are in receipt of non-cash benefits of monetary value including for Allianz Partners provision of health insurance.

The reasons we have a gender pay gap

There is a gender pay gap at AWP Health and Life SA Irish Branch based on the specific definitions of Gender Pay as set out in the Irish Gender Pay Gap Information Act 2021. This is because of imbalances in the proportions of men and women in particular roles and at particular levels within the organisation. In particular, while we are satisfied to see that men and women are evenly represented in our upper pay quartile relative to their numbers in the organisation as a whole, there is a disproportionately higher number of women in our lower paid quartile. It is worth noting that some of our most senior offices are held by women; however they are formally employed by other entities in the group and therefore are not included in this report.

There is a gender pay gap in favour of women amongst our part-time and temporary workers. The figures for part-time and temporary workers relate to a comparatively small, though highly valued, number of people within the organisation in Ireland.

Within particular roles and levels, we take care to pay fairly and without discrimination between men and women. We continue to run annual pay equity checks to ensure this.

The actions we are taking

Our Employee Value Proposition ‘Let’s Care for Tomorrow’ and our People Care Programme create an environment of diversity and inclusion within which our people can grow, learn and progress on an equal basis.

Diversity, Equity and Inclusion in the Allianz Group

Globally, the Allianz Group includes 176 nationalities, 5 generations, 5.6% colleagues with disabilities, a vibrant Pride community, and over 40% women on our Board of Management (as of 2024). Allianz has defined clear DEI targets and ambitions to ensure continued effort, progress and the sustainable positive impact of DEI. For example:

We have a global numeric target for gender.
We have set ourselves the global target to have 30% women in Allianz Global Executive positions, 30% women in Allianz Senior Executive positions, 40% women in Allianz Executive positions, and 50% women in talent pools.
We have a global ambition for nationalities and ethnicities.

We aim to have at least two different nationalities or ethnicities represented on all our Boards of Management, and/or members of the Board of Management should have international experience of living in a different country.
We have a global ambition to drive generations and age inclusion .
We aim to have a balanced generational representation, where at least 25% of our workforce is under 35 years old.
We have a global ambition for LGBTQ+ inclusion.
We aim to reach 80% of our global workforce with access to local LGBTQ+ employee networks.

DEI is a central theme in our Employer Value Proposition (EVP) "We care for tomorrow."

Allianz Partners, in Ireland and globally, shares fully in the values, aspirations and targets of the Allianz Group with regard to diversity, equity and inclusion.

Actions we are taking at Allianz Partners

Allianz Partners has attained EDGE (Economic Dividends for Payment Equality) Move status, indicating the achievement of important milestones on the road to achieving gender equity targets.

We provide our employees with the opportunity to join employee networks – including our Allianz NEO (focusing on gender inclusion).
Since 2021, we have had in place globally a female development programme that supports female talents in driving their own development and building careers aligned with their strengths and professional purpose.
Internationally, Allianz Partners began 2024 with women comprising 37% of our Executive cluster: we aim to get that figure to at least 40% in the short run.
Our Moments That Matter programme continues to provide fertility, menopause and pregnancy loss support for employees with at least one year of service.

Fully paid Parent’s Leave has been extended to 9 weeks.
We have introduced Grandparent’s leave of 3 days.
We marked International Women’s Day with a special edition of our SHEroes ‘The Everyday Woman’ Podcast, which featured women representing four of our diverse employee network groups in Allianz Partners.

Conclusion

Allianz Partners shares the defined and clear diversity, equity and inclusion targets of the Allianz Group. Our leadership is accountable for executing our DEI strategy. They are assisted from the bottom up by our employee networks. Our internal surveys, along with external accreditation such as EDGE Move and Great Place to Work status, show that we are on the right path, but we are not complacent. We remain committed to achieving further progress on equitable representation at all levels of the organisation. We will continue to maintain an environment in which all of our people can thrive at work and reach their full potential.