The move is part of its “commitment to create a sustainable future”, and the agreement is set to run until 2023.
Allianz will receive a delivery of up to 200 vehicles a year as it transitions its vehicle fleet away from diesel power to Toyota’s self-charging hybrid technology.
The group said that the arrangement will also support UK automotive manufacturing, as the models will include the new Toyota Corolla and Corolla Touring Sports, which are built at the Toyota factory in Derbyshire.
The new move to hybrid power is therefore expected to “significantly reduce environmental impact”.
Reliability was also a key consideration, addressed by the proven reputation of Toyota and Lexus hybrids for lasting quality and problem-free performance.
“I’m delighted that our large vehicle fleet is a key area of our business where we can take positive steps to reduce our environmental impact.”
Stuart Ferma, general manager Toyota and Lexus Fleet Sales, said: “Our fleet customers need to be sure that they are not only making an environmentally sound choice, but that they can also count on the quality, durability and reliability of the vehicles, economic running costs and comprehensive support services.
“We’re delighted that Allianz has chosen Toyota and Lexus hybrids and look forward to building a successful relationship with them as a valued fleet customer.”