Allianz intensifies pension business with major clients

Allianz will be servicing its 200 most prominent corporate clients in Germany with a specialized pension advisory unit. For this purpose, Allianz SE, Allianz Global Investors and Allianz Lebensversicherungs-AG are effective 1 January 2011 setting up a joint venture called Allianz Corporate Pensions Advisors (ACPA), with the aim of meeting the special requirements and needs of their top clients in Germany through a dedicated approach. Both Jörg Braun, Allianz Lebensversicherungs-AG, and Michael Schütze, Allianz Global Investors, have been named Managing Directors of the new unit.

The new unit's aim is to offer our clients customised solutions from asset management and life insurance, drawing on all the expertise, complete product range and superior service capabilities of the entire company at Allianz,, in particular Allianz Global Investors and Allianz Lebensversicherungs-AG. Maximilian Zimmerer, CEO of Allianz Lebensversicherungs-AG and a member of ACPA's Executive Committee comments: "Against the background of growing demand for pension provision, company pension schemes are a strategic growth driver for us. In this line of business in particular, we are able to create substantial added value for our clients by synergizing our corporate strengths from asset management and life insurance operations and reinforce our position as the market leader."

Maximilian Zimmerer: "By synergizing our corporate strengths we create substantial added value for our clients"

The legal, fiscal and social-security requirements in the pension segment are steadily becoming increasingly complex. At the same time, the influence of pension obligations and pension management on a company's results is increasing. In the case of large clients, particularly, the pension strategy has to be individually aligned with the corporate strategy. This necessitates an approach that integrates biometric, financial and regulatory aspects on a cross-product basis. James Dilworth, CEO Allianz Global Investors Deutschland GmbH and a member of ACPA's Executive Committee of ACPA says: 'As a consequence of the financial crisis and changes to accounting guidelines, pension management has become a central value driver of corporations. With ACPA we are able to further support large corporate clients in this area.

James Dilworth: "With ACPA we are able to further support large corporate clients in their pension management"

Jörg Braun, hitherto responsible for broker distribution of life and health insurance business, and Michael Schütze, hitherto Head of Pension Investment Advisory at Allianz Global Investors, will be in charge of ACPA as Managing Directors. Both will report to the Executive Committee consisting of Managing Board members of the companies involved in the joint venture: Elizabeth Corley, CEO of Allianz Global Investors Europe Holding GmbH; James Dilworth, CEO of Allianz Global Investors Deutschland GmbH; Maximillian Zimmerer, CEO of Allianz Lebensversicherungs-AG; Michael Hessling, Member of the Board of Allianz Lebensversicherungs-AG, and Oliver Wohlgemuth, COO of Global Life at Allianz SE.

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