Günther Thallinger: Allianz is a risk manager, and that brings us immediately to the issue of climate change, which is a major threat to societies and natural ecosystems and an existential business risk for us. The consequences of climate change for individuals and businesses are profound. For individuals, it puts their health, income and assets at risk. For companies, it disrupts physical assets and business continuity, raises the question of adequate and affordable insurance coverage, and touches the very foundation of our business model.

Renate Wagner: And that's exactly why we are committed to meaningful change and doing something about it! In 2023, we published our first comprehensive net-zero transition plan, and we have detailed our long-term strategic climate commitment to achieve net-zero emissions by 2050, covering several business areas. For example, we outline intermediate targets by 2030 to reduce greenhouse gas emissions in the investment of policyholder funds, the P&C insurance business, and Allianz's own operations. These are significant commitments and delivering on our plans and promises will help build trust in our company, but we know we need the support of our people in working towards these. That is why in 2024 - like last year - the achievement of certain sustainability targets will determine whether we offer our employees a Free Share in 2025. Through the award of the Allianz Free Share, we are able to foster a sense of ownership amongst our people and I am incredibly proud that 70% of our people now own shares in our company.

Günther Thallinger: This is linked to sustainability goals in so many aspects, not only through the underlying target systematic. If employees participate in the Free Share offer, they have a different perspective as owners of our company. As owners we believe they also share a long-term perspective on our business and activities. That is why we launched last year the Employee Investor Day, where we have a global exchange on strategic issues, including sustainability.