Copenhagen 5th Year Anniversary

Five years ago, Allianz Global Corporate & Specialty opened the doors to its Copenhagen office, which would serve as the hub for its Nordic Region & CEE operations. Over 200 people gathered in May to celebrate this milestone.

Approximately 230 people filled the Copenhagen office for a reception celebrating its 5th year anniversary. Among the guests were brokers, competitors and important clients.

Stig Jensen, CEO AGCS Nordic Region & CEE, opened with a speech describing the beginnings of the Nordic setup and thanked his team, without whom such success would not have been possible. He then introduced guest speakers AGCS CEO Axel Theis and Danish member of the Allianz Group Supervisory Board, Stine Bosse.

Stine spoke about the relationship between Allianz and AGCS, as well as the Nordic insurance market. Axel followed up with focus on AGCS and the development of the Nordic Region from 12 employees in 2008 working out of a hotel office center, into a 16-country region with now 70 employees.

Axel commented, “The growth that the Nordic Region has already made within five years, since its humble beginnings in Copenhagen, is truly commendable. As I look toward the future and at the further ambitions of the region, I am proud of our progress and our ambitions for the coming year. The region has built a solid base, upon which we can continue to grow and shape our business.”

The market in the Nordic Region is known for being very specialized and highly competitive, but AGCS was able to start writing business since the first day, due to its specialized team of local industrial risk underwriters and managers. Though the same language can be spoken pretty much throughout the whole region, each country’s market is very distinct due to the differences in business cultures from country to country. After the administrative functions were established in Copenhagen, sales representative offices were positioned in Stockholm (2009) and Helsinski and Oslo (2010) to focus attention on each individual market.

Stig is also pleased with how far AGCS Nordic has come in the short amount of time. “We are no longer a start-up,” he said, “and we will in 2013 develop into a mature organization, but will not forget our pragmatism and our entrepreneurial way of thinking in order to help our clients.”