Allianz and Global join forces

29 May 2006

Allianz Australia and Global Transport & Automotive Insurance Solutions (GT) are joining forces to provide a market leading facility to service Australia’s transport, fleet and specialist equipment customers and, most importantly, the intermediaries who service this segment. Allianz has taken equity in GT to ensure a long-term commitment to the growth of the company.

“In recognition of the expansion of the business relationship and the growth plans for the agency, Global Motor Underwriting has been renamed Global Transport & Automotive Insurance Solutions or GT for short, “ said Nick Zissis, Managing Director GT.

GT will commence operating nationally from 1 June 2006.

The combined premium revenue of the Allianz and GT Heavy Motor businesses will make GT a significant market player in the transport industry insurance.

“GT aims to become a comprehensive one-stop service for intermediaries wanting insurance products like Motor, Liability, Marine and Property. GT will also provide industry leading claims and risk management services,” said Nicholas Scofield, Allianz General Manager Corporate Affairs.

“GT is able to offer intermediaries the best of both Allianz and the former Global’s Heavy Motor and Commercial Fleet underwriting expertise,” he said.

New products and quality customer service will be the hallmark of the new company. Brokers can now access new Motor Insurance products with enhanced wordings and a Marine All Risks cover. A Business Pack and Commercial Liability product will be launched in the near future.

GT will be a stand-alone company but will benefit from operating under the international Allianz umbrella. GT will be able to import best practice ideas from Allianz companies, around the world, specialising in insurance for the transport industry. Additionally, most of Allianz’s Heavy Motor staff will relocate to GT to maintain continuity of service to intermediaries who have policies with Allianz.

GT is underwritten by Allianz Australia Insurance Limited and underpinned by the financial strength of Allianz Australia and its parent the global Allianz Group.

“During the next few weeks Allianz and GT representatives will be contacting brokers to explain first-hand the benefits that GT can offer them and their customers,” said Mr. Scofield.

Media Enquiries
Allianz Australia Ltd: Nicholas Scofield. Ph (02) 9390 6596 or 0416 088 414
GT: Nick Zissis. Ph (02) 9966 8820

Background
Global Transport & Automotive Insurance Solutions (GT)

GT was formerly Global Motor Underwriting Agency, which has been operating since 1996. Managing Director, Mr Nick Zissis, has over 45 years experience in insurance and broking. In 1983 he became a founding shareholder in Australian European Insurance Brokers Pty Ltd and has successfully run Global Motor Underwriting Agency Pty Ltd since 1996.

Allianz Australia Limited

Allianz Australia is one of the country's largest general insurers and a leading private workers compensation insurer. The company is a wholly owned subsidiary of the worldwide Allianz Group. Allianz Australia provides some form of insurance cover to over 2 million policyholders and a range of Australia’s top 50 companies. In 2005, the company had a combined premium income of $2.4 billion and investment assets of approximately $5.3 billion. It has approximately 3000 staff and operates in Australia and New Zealand.

Allianz Australia offers a wide range of insurance products and services including car insurance, home insurance and Life insurance.