Allianz underwrites new Petplan insurance to help families look after their 'fur-kids'

It is clear from the sheer numbers of pets Australians own that we're passionate about our pets. With around 3.75 million dogs, 2.43 million cats and 800,000 recreational horses* across the country it's easy to see that many families consider their pets part of the family.

Given that each year one in three pets requires urgent veterinary attention and technological advances enable vets to do more for pets, providing the best possible care for the family 'fur-kid' can be expensive.

Nicholas Scofield, GM Corporate Affairs for Allianz Australia, announced that in response to these changing dynamics Allianz Australia will add pet insurance to its portfolio of products by becoming the new underwriter for Petplan. Commencing on 1 January 2008, Petplan, owned by Allianz Insurance UK, will be distributed through Petplan Australasia P/L.

"Research shows that both pet numbers and veterinary care costs are increasing and the provision of a pet insurance solution is what our customers want. Vets are also using more sophisticated diagnostic tools and medical treatments which, while having a really positive impact on our pets' lives, can become expensive*."

Changing demographics, including an aging population and professional couples who delay having children, are contributing to the increase in pet ownership and pet products; a trend driving a growing pet insurance customer base. In particular, Petplan provides peace of mind for young professionals who tend towards more expensive breeds of pets for whom they want to provide optimum care.

Mr Scofield outlines that "for as little as $6.52 per week, pet owners can cover a dog's vet fees up to $18,000 in any one year. A cats vet fees can be covered up to $12,000 in any one year for as little as $3.53 per week. In both cases this is probably cheaper than feeding your dog or cat for a week."

Doug Ford, MD of Petplan Australasia P/L, said "We've established Petplan Australasia as a solid business based on tested Petplan UK principals and procedures with certain adaptations to suit the local Australian market.

Through its Animal Health Division , Allianz Insurance UK is the largest pet insurer in the world. Allianz Insurance UK also has license agreements for Petplan in Canada, USA, Japan, Ireland and the Netherlands.

Mr Scofield from Allianz Australia adds that "you only have to look in the shops and supermarkets to see that pet ownership has changed over the years. You can now buy more treats, snacks, toys and even clothes for your 'furkid' than ever before. This is yet another reflection that our pets' place in the family is stronger than ever. The
Allianz underwritten Petplan provides pet owners an insurance solution to offset some of the inevitable costs involved in providing ongoing care for our beloved animals".

For further information contact Petplan on 1300 738 225 or
www.petplan.com.au

* Source: Australian Companion Animal Council Inc publication "Contribution of the Pet Care Industry to the Australian Economy, 2006" compiled by BIS Shrapnel Pty Ltd

Media enquiries:
Nicholas Scofield
Allianz Australia Ltd
Ph. +61 2 9390 6596
0416 088 414

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 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