Allianz

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Allianz SE

Type	Public
Founded	1890
Headquarters	Munich, Germany
Industry	insurance
Products	insurance, financial service
Revenue	€100.89 Billion (2005)
Net income	€7.74 Billion (2005)
Employees	180,000
Website	Allianz Group corporate website

Allianz SE^[1], (ISIN: DE0008404005; IPA pronunciation: [alliˈanʦ], and formerly AG) is a large financial service provider headquartered in Munich, Germany. By revenue, it is the largest FSP in the world. However, it is much farther down on profit.

Core and focus is on the insurance business. With €100 billion of revenue during 2004 Allianz is by far the biggest insurance company in Germany and one of the largest in the world.

1 History
2 Links with the Third Reich
3 League table
4 Management
5 Australia
6 Belgium
7 United Kingdom
8 See also
9 External links
- 9.1 References

[edit] History

Allianz AG was founded in Berlin in 1890 and shifted its headquarters to Munich in 1949. The first step to become an international company started with the opening of a branch office in London in the late 19th century. After World War II, global business activities were gradually resumed. Allianz opened an office in Paris in the late 1950s, and a management office for Italy in the 1960s. These expansions were followed in the 1970s by the establishment of business in Great Britain, the Netherlands, Spain, Brazil and the United States. In 1986, Allianz acquired Cornhill Insurance PLC, London, and the purchase of a stake in RAS (Riunione Adriatica di Sicurt’), Milan, strengthened its presence in Western and Southern Europe in the 1980s. (Recently, in February 08, 2006, RAS Shareholders approved the mergers with Allianz.) In 1990, Allianz started an expansion into eight Eastern European countries with establishing a presence in Hungary. In the same decade, Allianz also acquired Fireman’s Fund, an insurer in the United States, which was follow by the purchase of AGF (Assurances Generales de France), Paris. These acquisitions were followed by the expansion into Asia with several joint ventures and acquisitions such as in China and South Korea. Above these acquisition, Allianz expanded its asset management business as well by purchasing for example asset management companies in California.
Allianz is now present in more than 70 countries with over 177,000 employees. At the top of the international group is the holding company, Allianz SE, with its head office in Munich.
Allianz Group provides its more than 60 million customers worldwide with a comprehensive range of services in the areas of
• property and casualty insurance,
• life and health insurance,
• asset management and banking.
2001, Allianz acquired Dresdner Bank, a large German bank. Allianz Group and Dresdner Bank combined their asset management activities by forming Allianz Dresdner Asset Management.
In 2002 Michael Diekmann succeeds Henning Schulte-Noelle as CEO of Allianz AG.
The Allianz Group was reincorporated under a European Company Statute. As a result of the cross-border merger with RAS, Allianz converted into a European Company (SE - Societas Europaea) in October 13, 2006.
(used Allianz Group Portal & previous editor)--213.134.15.73 14:40, 18 February 2007 (UTC)

[edit] Links with the Third Reich

Gerald Feldman's book Allianz and the German Insurance Business is a look at the links between the Nazi party and big business in 1930s Germany concentrating on Allianz's relationship.

Previous Board member Kurt Schmitt was a German economic leader and the Reich Economy Minister from June 1933 until January 1935.

Eduard Hilgard, a general director of Allianz AG and head of the Reich Association for Private Insurance during the entire National Socialist regime.

Allianz's leadership, represented by directors Kurt Schmitt and Eduard Hilgard, led a policy of drawing nearer to the Nazis, even before they seized power. Already in October 1930, ties were forged with Hermann Göring. These contacts were realized through company dinners and by providing private financial loans. Heinrich Brüning and Franz von Papen tried without success to get Schmitt a ministerial office.

[edit] League table

Allianz in the revenue league table

Allianz: $130 billion (2004)
AXA: $122.72B USD (2004)
AIG: $108.91B USD (2004)

[edit] Management

CEOs to date:

2003 -- : Michael Diekmann
1991 -- 2003: Henning Schulte-Noelle

[edit] Australia

Allianz operate a general insurance business in Australia through Allianz Australia Insurance Limited (ABN 15 000 122 850, AFS Licence No. 234708)

[edit] Belgium

Allianz operates through AGF Belgium Allianz Group

[edit] United Kingdom

Allianz owns British insurance company Cornhill Insurance plc now renamed Allianz Cornhill Insurance plc. Also owns Kleinwort Benson which it inherited when it bought Dresdner Bank. The investment bank has subsequently been merged with the corporate bank of Dresdner Bank and rebranded as Dresdner Kleinwort.

[edit] See also

European Financial Services Roundtable

[edit] External links

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Allianz

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