Allianz Global Corporate & Specialty and red24 announce strategic partnership on crisis management assistance

Press Release | June 11, 2015 | London/Munich/New York/Paris/Singapore
  • red24 offers AGCS clients 24/7 crisis support globally
  • Broad spectrum of possible crisis scenarios covered ranging from product recall to evacuations and emergency incidents
  • red24 also to support AGCS underwriting of terrorism and political violence

Allianz Global Corporate & Specialty (AGCS), the corporate insurer of Allianz Group, announces a strategic partnership with red24, a global crisis management assistance company. red24 will offer its crisis support services to AGCS clients in order to manage product recalls or contamination, resolve emergency incidents or conduct evacuations from countries in turmoil. The company has operating experience in over 120 countries and the capability to provide on the ground assistance for clients across the globe within 24 hours.

AGCS has been building its Crisis Management division within the Global Liability line of AGCS, bundling activities relating to product recall and contamination, terrorism and political violence and hostile environment solutions. This division is led by Christof Bentele as Head of Global Crisis Management who is reporting to Michael Hohmann, Global Head of Liability of AGCS.

“Political risks and violence are increasing in many countries of the world. With our new partner red24 our crisis management policyholders will benefit from unique access to various emergency services which are essential in tense situations. Equally important are the prevention and risk mitigation services of red24 which will increase our clients’ resilience by simulating worst-case scenarios and testing emergency procedures”, comments Hohmann.

red24 has been selected as a result of a thorough tender process involving several crisis management support providers. “Our aim was to identify the best match for both AGCS and our clients. red24 stood out through its global network and deep practical experience of international crisis case handling”, said Bentele.

red24 will support AGCS policyholders of crisis managements products in several ways. With its dedicated Food Safety and Product Recall business unit red24 will help AGCS clients prepare for risks relating to their products as well as respond to immediate crisis situations such as recalls or contamination incidents. Support will include technical product testing in laboratories around the globe as well as advice and support on legal, regulatory and communications considerations.

Furthermore, red24 will assist AGCS clients to carry out evacuations in high-risk situations at short notice and provide prevention, risk mitigation and on-the-ground response services for emergency incidents. Such incidents are coordinated by the company’s 24/7 Crisis Response Management Center in South Africa, which is staffed by a team of multilingual customer service representatives, regional analysts and security experts.

With its global network of consultants, red24 will also support AGCS underwriting of terrorism and political risks by providing country risk profiles and in-depth analysis. AGCS is offering clients stand-alone cover against terrorism and political unrest for their overseas locations.

Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. AGCS provides risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 12 dedicated lines of business.

Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses, and private individuals. Among them are the world’s largest consumer brands, tech companies and the global aviation and shipping industry, but also wineries, satellite operators or Hollywood film actors. They all look to AGCS for smart answers to their largest and most complex risks in a dynamic, multinational business environment and trust us to deliver an outstanding claims experience.

We constantly strive to deliver the best for our customers through our global team of around 4,400 employees from over 70 nationalities in 34 countries worldwide. As the one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial strength ratings and a global network in over 200 countries and territories. In 2018, AGCS generated a total of €8.2 billion gross premium worldwide.

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