Allianz announces major expansion into the aviation insurance market

Friday 22 February, 2008

Allianz is pleased to announce that it is undertaking a major expansion into the aviation insurance market in Australia and New Zealand. The business will be written through Allianz Global Corporate & Specialty (AGC&S), the Allianz Group company dedicated to large corporate and specialist insurance solutions.

Stefan Feldmann, General Manager of AGC&S Pacific, said “Allianz, through AGC&S, is one of the largest aviation insurers in the world and we are now bringing our global expertise and strong capacity in this area to Australia and New Zealand. This will expand the activities of AGC&S Pacific and create a unique, local corporate and specialty insurer covering all major lines of business providing a more complete range of insurance solutions to our customers.”

Mr Feldmann said, “Allianz is particularly pleased to announce that Mr Michael Dalton has joined AGC&S Pacific to head up its new aviation insurance team. Mr Dalton, a pilot himself, is well known in the industry. His many years of experience brings a wealth of knowledge and expertise to Allianz”.

According to Mr Feldmann, “AGC&S Pacific’s new aviation unit will be based in Melbourne and will commence business on 17 March 2008. AGC&S Pacific will be active in all areas of general aviation and will cover a broad array of risks through customised, intelligent solutions underpinned by a dedicated team of seasoned specialist underwriters and backed by the strength and expertise of Allianz’s global network.”

Media enquiries:
Nicholas Scofield
Allianz Australia Ltd
Ph 02 9390 6596
0416 088 414

About Allianz Global Corporate & Specialty

AGC&S was formed from the merger of Allianz Global Risks and Allianz Marine & Aviation beginning in November 2005 and was launched as a wholly owned entity of Allianz SE. AGC&S is uniquely equipped to serve its customers needs, providing not only financial strength but also an unequalled global network of specialists with established industry records who support a diverse array of products and services. AGC&S’s industry Global Practice Groups maintain standards for risk assessment, grading and pricing to ensure that customers can expect the same consistently high level of expertise and underwriting throughout its network. Experts from its Global Underwriting Centers provide clients with specialist knowledge and specific underwriting solutions. AGC&S operates in about 70 countries and works with additional network partners in many more across the globe. In addition, decades of rich experience as a corporate insurer put unique tools at our disposal to benefit our clients. These include:

• Allianz Risk Transfer (ART), a special unit that customizes insurance and financial solutions for difficult risks ;
• Allianz Risk Consultants (ARC), a global network of over 180 regionally based experts who understand the distinctive needs of their local market and industry; and
• Allianz Centre for Technology (AZT), a highly respected body worldwide that provides technical expertise in risk, safety, technology and sustainable development.

About Allianz Australia

Best General Insurance Company 2006*
Best General Insurance Company 2007*

The Allianz Australia Group operates in Australia and New Zealand. It is one of Australia’s largest general insurers, a leading private workers’ compensation insurer, and more recently, a life insurer.

Allianz Australia delivers a wide range of personal, commercial and corporate insurance products and services. AAL is proud to be of service to more than 2 million policy holders and over 50% of Australia’s top 200 BRW listed companies have some form of insurance cover with the group.

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

Allianz Australia has approximately 3300 staff. In 2006, the company achieved a gross written premium exceeding AU$2.4 billion and investment assets of approximately AU$5.5 billion. Allianz Australia Group is a wholly owned subsidiary of the worldwide Allianz Group, one of the world’s largest financial services companies.

*Australian Banking and Finance Insurance Awards