Allianz Trade has increased the size of its insurance support to Save the Children, including for several new countries in urgent need of the humanitarian organization’s funds and projects—extending a partnership that’s been in place since 2020.
Issued by the Allianz Trade Specialty Credit team, alongside other insurance partners, Save the Children benefits from a syndicated, multi-country political risk policy at a nominal premium. This support helps protect international funds in countries where the threat of confiscation is elevated and ensures the organisation’s life-saving work can continue.
As one of the world’s leading humanitarian organizations, Save the Children works to ensure children across the world, especially those most impacted by inequality and discrimination, have access to healthcare, food and shelter, as well as learning opportunities and child protection services.
“Save the Children’s invaluable global efforts warrant strong support from the industry, allowing the organization to make a positive impact in regions where political risk around the security of funds is high. By increasing the countries in our scope, we aim to provide enhanced confidence to the charity in order to continue doing the work that they do without interference,” said William Whittington, Regional Head of Specialty Credit, UK, at Allianz Trade.
“The combined impacts of COVID-19, conflict and the climate crisis are having a devastating impact on vulnerable children’s lives, pushing millions to the brink of starvation, forcing them out of school or leaving them at risk of violence. This partnership ensures that funds meant to help children grow up healthy, access education and learning, and keep them safe in their communities, are protected,” said Neil Hunt, Global Insurance Director at Save the Children International.