Allianz today announced the official opening of its Beijing branch office, strengthening its presence across China and enhancing its ability to serve more customers in the world’s fastest-growing insurance market.
With a full branch license granted by the China Insurance Regulatory Commission (CIRC), Allianz is able to provide its suite of commercial and consumer property and casualty (P&C) solutions to customers in Beijing, including travel, personal accident, health and motor insurance, as well as liability, marine, construction, energy, financial lines and trade credit.
At the opening of the Beijing branch, George Sartorel, Allianz’s Regional CEO for Asia Pacific, said, “This is a milestone in Allianz’s continued growth in China. As China's political, economic and cultural center, Beijing represents not only a great opportunity for us to serve the protection needs of more customers and enterprises in China, but also for Allianz to play a bigger role in some of the country’s key agendas, including the Jing-Jin-Ji integration plan and the One Belt One Road initiative.”
China is the world’s second-largest insurance market, and in 2016, accounted for close to half of global insurance growth1. With its best-in-class products and services, Allianz is well positioned to provide one-stop risk management and insurance solutions for its growing customer base in China.
The Beijing branch will be Allianz China General Insurance’s (AZCN) third branch in the country after Guangdong and Shanghai and, together with its sale services office in Shenzhen, completes Allianz’s P&C coverage across China’s tier-one cities.
The Allianz Group is one of the world's leading insurers and asset managers with more than 86 million retail and corporate customers. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing over 650 billion euros on behalf of its insurance customers while our asset managers Allianz Global Investors and PIMCO manage an additional 1.4 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2016, over 140,000 employees in more than 70 countries achieved total revenues of 122 billion euros and an operating profit of 11 billion euros for the group.
Asia is one of the core growth regions for Allianz, characterized by a rich diversity of cultures, languages and customs. Allianz has been present in the region since 1910, when it first provided fire and marine insurance in the coastal cities of China. Today, Allianz is active in 14 markets in the region, offering its core businesses of property and casualty insurance, life, protection and health solutions, as well as asset management. With its more than 32,000 staff, Allianz serves the needs of over 18 million customers in the region across multiple distribution channels and digital platforms.
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