Allianz, the leading insurer in Central and Eastern Europe (CEE), has started its operations in the Slovenian market offering insurance products and services to corporate partners. With the establishment of a branch in Slovenia, Allianz underlines its commitment to the Slovenian market for the long-term. Allianz has been offering life insurance products of Allianz Elementar in Austria to Slovenian customers through the insurance broker Styria West since 2007.

"We are delighted to now be physically present and play an active part in the development of the Slovenian insurance market. Our goal is to become a significant player in this growing market. With our expertise, financial strength and know-how, our corporate customers will benefit from a wide product range and tailor-made solutions for their business needs", comments Klaus Junker, regional CEO for Allianz’ activities in CEE.

Allianz entered the Slovenian market through its Hungarian subsidiary, Allianz Hungária Biztosító Zrt, the insurance market leader in Hungary. The company is active via its branch office in Ljubljana. Operations have already started with a dedicated local management team focussing on developing the business by reflecting the needs of the local customers.

The branch office in Slovenia will be offering a full range of innovative and modern insurance solutions to corporate enterprises comprising traditional property, liability and technical insurance products. Based on demand from customers, this product range is expected to be enhanced on an on-going basis. While in the early stages, business will be developed together with broker partners, in the long-run an expanded self-owned sales network is planned to be set up to take advantage of other growth opportunities in the market.

Also, Allianz is planning to further serve the Slovenian market with retail solutions in motor (MTPL and Casco), personal and life insurance products by 2009. The main sales channel for motor products will be the internet, as internet use in Slovenia is well-developed. In the life segment, Allianz intends to expand its offer of traditional life by unit-linked and investment-oriented products to cater to the long-term provision needs of customers. In this segment the company plans to co-operate with partners in the region specializing in the sales of financial products.

Slovenia is a growing insurance market with a number of opportunities for international insurance companies. In 2007, premium volume in the life and non-life business once again grew compared to 2006 and recorded almost 1.9 billion euros. Life insurance accounts for more than 32 percent of this volume. With a population of two million, GDP per capita is almost 16,400 euros.

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