International: SE employee involvement deal at Allianz

An agreement has been signed on the transnational employee involvement arrangements to apply when Allianz, the insurance and financial services multinational, becomes a European Company (Societas Europaea, SE) incorporated at European level on the basis of the EU's European Company Statute.

Under the SE employee involvement Directive (European Company Statute adopted), transnational involvement arrangements - information and consultation plus, in some circumstances, board-level employee participation - must be negotiated for each SE between the company or companies involved and a special negotiating body (SNB) of employee representatives (statutory fall-back provisions apply if no agreement is reached).