’The new regional setup gives us the optimum footprint in all major commercial markets worldwide,’ says chief executive
Allianz Commercial has been created following the combination of the insurer’s Global Corporate and Specialty and Property and Casualty (P&C) businesses combining.
A statement released yesterday (24 July 2023) said the new business will be a go-to-market business offering insurance solutions for mid-sized businesses, large enterprises and specialist risks.
As part of the move, the insurer’s commercial businesses in markets such as the UK, Australia, France and Germany will officially adopt the new trading name.
Each region is led by one commercial managing director – in the UK, this will be Nadia Côté.
Chris Townsend, member of the Allianz SE board of management, said: “Our commercial businesses have been united in one global model.
”With Allianz Commercial, we can service a fuller, more dynamic range of customers under our new unifying name – this gives us an immense competitive advantage and a compelling customer value proposition across the commercial insurance market, rooted in simplicity and consistency.”
’Consistent approach’
This came after Allianz announced earlier this year (10 March 2023) that it was planning to restructure its global commercial insurance segment as one go-to-market business.
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Allianz Commercial chief executive Joachim Mueller said the ”new regional setup gives us the optimum footprint in all major commercial markets worldwide”.
”We will be able to play the full market in one consistent approach with advanced product solutions, which are grounded in global industry and underwriting expertise and delivered with local market knowledge,” he added.
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