Allianz Deutschland AG focuses on growth and profitability in the P&C segment
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A greater market share, improved claims management and lower costs are to increase the competitiveness and the profitability of the P&C segment for the long term.
Munich, Nov 30, 2011
With its "P&C program for the future" Allianz Deutschland AG, Munich, aims to give a clear impetus for growth in the P&C business step-by-step until the end of 2014. In this way Allianz intends to further affirm its position as market leader in a dynamic competitive environment: the expansion of all its existing sales channels, the extension of its modular product concept and improvements in claims management are significant leavers for strengthening profitability and growth. "We want to achieve our objectives through targeted investments. By 2014 we will, for instance, have invested approx. EUR 76 million into product development", explains Markus Rieß, CEO of Allianz Deutschland AG. "Our new claims organization has been strengthened through the creation of 400 new jobs."
In combination with systematic cost discipline growth drivers will form the core of the program. The aim is to increase gross written premiums by EUR 500 million to EUR 9.5 billion in 2014 and to reduce the combined ratio from currently just over 100 percent to 95 percent. "We cannot rely on the market alone for significant improvements in the German P&C business of Allianz. It is our responsibility to continuously review many different aspects of our business and to develop them further. The aim is to expand the successful market position of Allianz Deutschland", says Rieß.
Allianz Deutschland has informed all its employees about the objectives and planned areas for action of the "P&C program for the future" that it has developed. Talks with the competent employee committees on the concrete design of the program have already begun.