Allianz reveals global plan to bring mid and large corporate under one model

A spokesperson for Allianz Insurance confirmed there were no plans to change the branch network for UK brokers who would be keeping the same contacts. There are no changes to any legal entities or staff.

The group detailed that the new approach anticipates the increasing globalisation of risks.

With the changes behind the scenes, the area most likely to immediately affect brokers is for risks of a size, which historically overlapped between the branch network and AGCS.

The group acknowledged that the approach closes internal structural gaps in market reach, and argued it extends Allianz’s product offering as well as simplifying delivery at the local level for brokers and clients to meet a clear market need.

Consistent

The insurance giant listed that clients and distribution partners “will experience a consistent underwriting approach and access harmonised insurance solutions that are globally coordinated and locally delivered with one market interface”.

The business flagged that the development was part of a strategy to grow in property and casualty.

Joachim Mueller will lead Allianz Commercial as part of his responsibilities as CEO of AGCS, reporting to Chris Townsend, member of the Allianz board of management.

We’re excited by this announcement. It’s something that will support our customers and brokers, and means we can grow further, making the best use of Allianz expertise globally.

Simon McGinn

Allianz Commercial will also have a commercial lead in each country or region.

The senior executive for the UK, who will sit alongside the current management and work across with the global offering, is yet to be announced.

Grow

Simon McGinn, CEO of Allianz Commercial UK, commented: “We’re excited by this announcement. It’s something that will support our customers and brokers, and means we can grow further, making the best use of Allianz expertise globally.

“Leadership teams have already started collaborating, and there are many positives about the approach. For brokers, it’ll mean we’re even easier to deal with through a ‘One Allianz’ face to market.”

Serve

Mueller stated: “Allianz Commercial is the result of market feedback encouraging us to combine the best of AGCS with the best of local Allianz businesses to serve more clients around the world.

“The result will be simplicity, clarity and consistency for our customers, where we serve them with a wider range of products – from Allianz Multinational to climate solutions – in a seamless approach that preserves the trusted relationships and local know-how they value.”

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