| Allianz SE | |
|---|---|
 |
|
| Type | Public |
| Founded | 1890 |
| Headquarters |  Munich, Germany |
| Key people | Michael Diekmann (Chairman of the board) |
| Industry | insurance |
| Products | insurance, financial service |
| Revenue | ▲ €102. Year 1890 ( MDCCCXC) was a Common year starting on Wednesday (link will display the full calendar of the Gregorian calendar (or a Common Munich (München; Minga is the capital city of Bavaria, Germany. Germany, officially the Federal Republic of Germany ( ˈbʊndəsʁepuˌbliːk ˈdɔʏtʃlant is a Country in Central Europe. For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" Insurance, in Law and Economics, is a form of Risk management primarily used to hedge against the Risk of a contingent loss In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need Insurance, in Law and Economics, is a form of Risk management primarily used to hedge against the Risk of a contingent loss Financial services refer to services provided by the finance industry. In business revenue or revenues is Income that a company receives from its normal business activities usually from the sale of goods and services 6 billion (2007) |
| Net income | ▲ € 7 Billion (2006) |
| Employees | 165,505 (2006) |
| Website | www.allianz.com |
Allianz SE,[1] (ISIN: DE0008404005; formerly AG) (NYSE: AZ) is a large financial service provider headquartered in Munich, Germany. Net income is equal to the Income that a firm has after subtracting costs and Expenses from the total Revenue. Employment is a Contract between two parties, one being the employer and the other being the employee. A website (alternatively web site or Web site, a back-construction from the Proper noun World Wide Web) is a collection of Web pages The Council Regulation on the Statute for a European Company of the European Union was adopted October 8 2001. An International Securities Identifying Number (ISIN uniquely identifies a security. Aktiengesellschaft ('aktsiəngəzεlʃaft abbreviated AG) is a German term that refers to a Corporation that is limited by shares i The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. Financial services refer to services provided by the finance industry. Munich (München; Minga is the capital city of Bavaria, Germany. Germany, officially the Federal Republic of Germany ( ˈbʊndəsʁepuˌbliːk ˈdɔʏtʃlant is a Country in Central Europe.
Its core business and focus is insurance. Insurance, in Law and Economics, is a form of Risk management primarily used to hedge against the Risk of a contingent loss With €102. 6 billion of revenue during 2007, Allianz is one of the largest international insurance and financial services organizations in the world. Insurance, in Law and Economics, is a form of Risk management primarily used to hedge against the Risk of a contingent loss Financial services refer to services provided by the finance industry.
Allianz is also the principal sponsor of the Swiss Open tennis tournament. Tennis is a sport played between two players ( singles) or between two teams of two players each ( doubles)
Contents |
History
Allianz AG was founded in Berlin in 1890 and shifted its headquarters to Munich in 1949. Berlin is the capital city and one of sixteen states of Germany. Year 1890 ( MDCCCXC) was a Common year starting on Wednesday (link will display the full calendar of the Gregorian calendar (or a Common Year 1949 ( MCMXLIX) was a Common year starting on Saturday (link will display the full calendar of the Gregorian calendar. The first step to become an international company started with the opening of a branch office in London in the late 19th century. London ( ˈlʌndən is the capital and largest urban area in the United Kingdom. After World War II, global business activities were gradually resumed. World War II, or the Second World War, (often abbreviated WWII) was a global military conflict which involved a majority of the world's nations, including Allianz opened an office in Paris in the late 1950s, and a management office for Italy in the 1960s. Paris (ˈpærɨs in English; in French) is the Capital of France and the country's largest city Italy (Italia officially the Italian Republic, (Repubblica Italiana is located on the Italian Peninsula in Southern Europe, and on the two largest These expansions were followed in the 1970s by the establishment of business in Great Britain, the Netherlands, Spain, Brazil and the United States. See also Kingdom of Great Britain Great Britain (Breatainn Mhòr Prydain Fawr Breten Veur Graet Breetain is the larger of the two main islands The Netherlands ( Dutch:, ˈnedərlɑnt is the European part of the Kingdom of the Netherlands, which consists of the Netherlands the Netherlands Spain () or the Kingdom of Spain (Reino de España is a country located mostly in southwestern Europe on the Iberian Peninsula. |utc_offset = -2 to -4 |time_zone_DST = BRST |utc_offset_DST = -2 to -5 |cctld The United States of America —commonly referred to as the In 1986, Allianz acquired Cornhill Insurance PLC, London, and the purchase of a stake in Riunione Adriatica di Sicurità (RAS), Milan, strengthened its presence in Western and Southern Europe in the 1980s. Year 1986 ( MCMLXXXVI) was a Common year starting on Wednesday (link displays 1986 Gregorian calendar) Milan (Milano Milan (listen) is one of the largest cities in Italy, located in the plains of Lombardy. Recently, in February 8, 2006, RAS Shareholders approved the mergers with Allianz. Events 421 - Constantius III becomes co- Emperor of the Western Roman Empire. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. In 1990, Allianz started an expansion into eight Eastern European countries with establishing a presence in Hungary. Hungary (Magyarország 'mɔɟɔrorsaːg) officially in English the Republic of Hungary ( Magyar Köztársaság, literally Magyar (Hungarian Republic In the same decade, Allianz also acquired Fireman’s Fund, an insurer in the United States, which was followed by the purchase of Assurances Generales de France (AGF), Paris. Fireman's Fund Insurance Company is a Novato California -based insurance company owned by Allianz SE of Germany AGF is a French Insurance company, headquartered in Rue de Richelieu Paris. These acquisitions were followed by the expansion into Asia with several joint ventures and acquisitions in China and South Korea. A joint venture (often abbreviated JV) is an entity formed between two or more parties to undertake economic activity together China ( Wade-Giles ( Mandarin) Chung¹kuo² is a cultural region, an ancient Civilization, and depending on perspective a National South Korea, officially the Republic of Korea and often referred to as Korea ( Korean: 대한민국 tɛː Around this time Allianz expanded its asset management business as well by purchasing for example asset management companies in California. California ( is a US state on the West Coast of the United States, along the Pacific Ocean.
In 2001, Allianz acquired Dresdner Bank, a large German bank. Dresdner Bank AG is one of Germany 's largest banking corporations and is based in Frankfurt. Allianz Group and Dresdner Bank combined their asset management activities by forming Allianz Dresdner Asset Management. In 2002 Michael Diekmann succeeded Henning Schulte-Noelle as CEO of Allianz AG. The Allianz Group was reincorporated under a European Company Statute and, as a result of the cross-border merger with RAS, Allianz converted into a European Company (SE - Societas Europaea) in October 13, 2006. The Council Regulation on the Statute for a European Company of the European Union was adopted October 8 2001. Events 54 - Nero ascends to the Roman throne 409 - Vandals and Alans crossed the Pyrenees Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar.
Allianz is now present in more than 70 countries with over 177,000 employees. At the top of the international group is the holding company, Allianz SE, with its head office in Munich. Allianz Group provides its more than 60 million customers worldwide with a comprehensive range of services in the areas of
• property and casualty insurance,
• life and health insurance,
• asset management and banking.
Links with the Nazis & Third Reich
Gerald Feldman's book Allianz and the German Insurance Business is a look at the links between the Nazi party and big business in 1930s Germany concentrating on Allianz's relationship. According to Holocaust historians and legal experts, such as Professors Michael Bazyler and Gerald Feldman from the United States, Allianz insured the concentration camps at Auschwitz-Birkenau as well as other death camps. "Auschwitz" redirects here For the town see Oświęcim Auschwitz-Birkenau () was the largest of Nazi Germany
Previous Board member Kurt Schmitt was a German economic leader and the Reich Economy Minister from June 1933 until January 1935. Kurt Paul Schmitt (7 October 1886 in Heidelberg – 2 November 1950 in Heidelberg) was a German economic leader and the Reich Economy Minister (ˈraɪk German ˈʁaɪç is a German Loanword cognate with the English Reign, Region, and Rich, but used most to designate
Eduard Hilgard, a general director of Allianz AG and head of the Reich Association for Private Insurance during the entire National Socialist regime.
Allianz's leadership, represented by directors Kurt Schmitt and Eduard Hilgard, led a policy of drawing nearer to the Nazis, even before they seized power. Kurt Paul Schmitt (7 October 1886 in Heidelberg – 2 November 1950 in Heidelberg) was a German economic leader and the Reich Economy Minister Already in October 1930, ties were forged with Hermann Göring. Hermann Wilhelm Göring (also spelled Goering) (12 January 1893 15 October 1946 was a German Politician, Military leader and a leading member These contacts were realized through company dinners and by providing private financial loans. Heinrich Brüning and Franz von Papen tried without success to get Schmitt a ministerial office. Dr Heinrich Brüning ( ( November 26, 1885 &ndash March 30, 1970) was a German Politician during the Weimar Republic (29 October 1879 2 May 1969 was a German nobleman Catholic monarchist Politician, General Staff officer and Diplomat
The Allianz Arena Stadium
Allianz Arena is a football stadium in the north of Munich, Germany, which is sponsored by Allianz. The Allianz Arena is a football Stadium in the north of Munich, Germany
The two professional Munich football clubs FC Bayern München and TSV 1860 München have played their home games at Allianz Arena since the start of the 2005/06 season. Both clubs had previously played their home games at the Munich Olympic Stadium; FC Bayern München since 1972 and TSV 1860 München since the 1990s.
Management
CEOs to date:
- 2003 -- : Michael Diekmann
- 1991 -- 2003: Henning Schulte-Noelle
Allianz Australia
Allianz Australia Limited (ABN 21 000 006 226) operates throughout Australia and New Zealand and through its subsidiaries offers a range of insurance and risk management products and services. Subsidiaries of Allianz Australia include Club Marine, Allianz Life and Hunter Premium Funding.
The company came under scrutiny when it became one of five advertisers to pull it's advertising during the lesbian drama series The L Word, at the time screening on Channel Seven, due to pressure from anti-gay religious group The Salt Shakers. The L Word is a Television Drama series on Showtime that portrays the lives of a group of Lesbian, Bisexual and The Seven Network is an Australian television network, owned by the Seven Media Group. [1]
Belgium
Allianz operates through Allianz Belgium, previously AGF Belgium which has been re-branded to Allianz Belgium on the 29 November 2007. Events 1777 - San Jose California, is founded as el Pueblo de San José de Guadalupe Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
Canada
Allianz put a sudden halt to its Canadian P&C operation Allianz Canada (market share 2%) in 2004 after several years of unfavorable business results. Allianz originally entered the Canadian market in the early 1990's through an acquisition of several North American insurers, namely the American Firemans Fund and the Canadian Surety. Upon the market exit the personal and commercial lines unit was sold off to the market leader ING Canada, whereas its industrial underwriting branch was bought by Allianz US, which has retained the Toronto office.
India
In India, Allianz operates in collaboration with Bajaj Auto. Bajaj Auto is a major Indian Automobile manufacturer It is India's largest and the world's 4th largest two- and three-wheeler maker It provides insurance in general and life sector.
Slovakia
Allianz started its life and Property & Casualty (P&C) operation in Slovakia in 1993 but the local subsidiary was never able to achieve a relevant market share. In 2001 Allianz AG bought the majority ownership in then state-owned Slovenska poistovna (Slovak Insurance Company), at the time suffering from political mismanagement, asset-stripping and deep under-reserving. Slovenska however held a market share of well over 50%, which had made it an attractive privatization target, where Allianz had to compete with such insurers as AXA or Aegon. Upon the purchase the local Allianz operation was merged with Slovenska creating a new company Allianz - Slovenska poistovna. Its combined market share (life and P&C) presently stands at just below 40% (about 50% in P&C business), still making it by far the market leader.
United Kingdom
Allianz owns British insurance company Cornhill Insurance plc, subsequently renamed Allianz Cornhill Insurance plc. This then simply became Allianz Insurance plc on 30 April 2007 to directly reflect its continental parentage. Events 313 - Roman emperor Licinius unifies the entire Eastern Roman Empire under his rule Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
Allianz owns Kleinwort Benson which it inherited when it bought Dresdner Bank. Kleinwort Benson was a Merchant bank based in London. In the early 90s the Kleinwort Benson Group had its investment banking and private client divisions Dresdner Bank AG is one of Germany 's largest banking corporations and is based in Frankfurt. The investment bank has subsequently been merged with the corporate bank of Dresdner Bank and rebranded as Dresdner Kleinwort. Dresdner Kleinwort (DKIB is the Investment bank of Dresdner Bank AG, part of the Allianz Group since July 2001 (Dresdner Bank AG is currently being It also owns the High Net Worth insurance broker Home and Legacy.
See also
- European Financial Services Roundtable
- The Geneva Association (also known as the International Association for the Study of Insurance Economics)
References
External links
- Allianz Group corporate website
- Yahoo! - Allianz Group Company Profile
- Allianz Group stock quote & chart at Gstock
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