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Allianz Global Corporate & Specialty targets largest African insurance market

  • The Johannesburg office will offer a wide range of corporate insurance products
  • Continues strategy of developing teams in core client markets

PRESS RELEASE - Johannesburg/London: Feb. 3, 2010

Allianz Global Corporate & Specialty (AGCS), the industrial insurance brand of the Allianz Group, is targeting business opportunities in Southern Africa through a new operation in Johannesburg, from January 1, 2010. The company will be represented in this region following a transfer from Allianz SE to a wholly-owned AGCS AG subsidiary.

The office will be led by Terence Sander, with an experienced team who utilise their knowledge to focus on the SA corporate market, and will be reporting to Andreas Berger, Chief Executive Officer AGCS Regional Unit London.

With the launch of an office representing AGCS in Johannesburg, South African clients and brokers will have access to a wider range of AGCS products, including Property, Marine Cargo, General Aviation, Engineering and Financial lines. The Johannesburg office will benefit from Allianz Global Corporate & Specialty's AA Standard & Poor's rating, and will form part of AGCS's network which now covers more than 150 countries through Allianz offices and network partners.

"The establishment of an office representing AGCS in South Africa is the optimum way to service our local clients by offering them access to AGCS's global products. It will enable us to ensure we offer the highest level of service, supported by a worldwide network," commented AGCS Regional Unit London CEO Andreas Berger. 

Allianz initially started operations in South Africa in 1981, and this move is a continuation of AGCS’s strategy of developing local teams in core client markets to focus on major corporate and specialist risks, having announced new operations in Dubai, Japan, Brazil, Mexico and Hong Kong within the last 6 months.

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