IBA – July 25, 2023 – Global insurer Allianz has introduced a new regional set-up for its commercial insurance business after combining the group’s Allianz Global Corporate & Specialty (AGCS) unit with the commercial insurance operations of local Allianz property & casualty entities. Under the integrated proposition, the businesses will trade as “Allianz Commercial” moving forward.

“Our commercial businesses have been united in one global model,” Allianz SE management board member Chris Townsend said in an emailed release. “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.”

There are the 11 regions, which combine the six regional units of AGCS with the national commercial businesses of Allianz. The latter served mid-sized companies while AGCS catered to large enterprises. Both sizes, as well as specialist risks, now fall under the remit of Allianz Commercial.

“The new regional set-up gives us the optimum footprint in all major commercial markets worldwide,” Allianz Commercial chief executive Joachim Mueller said. “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.”