Allianz Commercial launches in global property & casualty markets

Allianz Global Corporate & Specialty (AGCS) has joined forces with the commercial insurance business of local Allianz Property & Casualty (P&C) entities, trading as “Allianz Commercial” – a unified go-to-market business targeting mid-sized businesses, large enterprises and specialist risks.

AGCS, as a global carrier, and Allianz’s commercial businesses in markets such as Australia, France, Germany and UK will officially adopt the new trading name of Allianz Commercial as of Monday, July 24, while other countries will be moving to the new integrated model and trading identity in the coming months.

Allianz Commercial will be moving to a new structure with 11 new regions, bringing together the current six regional units of AGCS with Allianz’s national Commercial businesses. Each region will be led by a commercial managing director representing the integrated Allianz Commercial business to customers and distribution partners “with a more consistent trading approach and a wider set of solutions.” These regions have been designed to reflect market characteristics, broker and distribution practices, and geographic proximity, the company said.

Chris Townsend, member of the Allianz SE board of management, said: “Our commercial businesses have been united in ONE global model. With Allianz Commercial, we can service a fuller, more dynamic range of customers under our new unifying name – this gives us an immense competitive advantage and a compelling customer value proposition across the commercial insurance market, rooted in simplicity and consistency.”

Allianz Commercial CEO Joachim Mueller added: “The new regional set-up gives us the optimum footprint in all major commercial markets worldwide. We will be able to play the full market in one consistent approach with advanced product solutions, which are grounded in global industry and underwriting expertise and delivered with local market knowledge.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox