Allianz Global Corporate & Specialty (AGCS) together with the commercial insurance businesses of local Allianz Property & Casualty (P&C) entities have begun to trade as “Allianz Commercial” in one go-to-market business that offers insurance solutions for midsize businesses, large enterprises and specialist risks.

The company first announced that it planned to reorganize in March 2023.

AGCS, as a global carrier, and Allianz’s commercial businesses in markets such as Australia, France, Germany and UK officially are adopting the trading name “Allianz Commercial” (as of July 24), while other countries will be moving to the new integrated model and trading identity in the coming months.

Allianz Commercial is also moving to a new structure with 11 new regions which brings together the current six regional units of AGCS with Allianz’s national commercial businesses. Each region is led by one commercial managing director representing the integrated Allianz Commercial business to customers and distribution partners with a more consistent trading approach and a wider set of solutions.

Allianz said these regions have been designed to reflect market characteristics, broker and distribution practices, and geographic proximity.

From the regulatory and licensing perspective, and to ensure local continuity, the legal names of AGCS companies and the various Allianz P&C entities such as Allianz Versicherungs-AG or Allianz France will remain. Similarly, each legal carrier will retain its existing financial strength rating.

As previously announced, Joachim Mueller will lead Allianz Commercial as part of his responsibilities as CEO of AGCS SE.

In 2022, the integrated business of Allianz Commercial generated more than €19 billion gross premium globally.

Allianz Commercial will serve a wide range of business customers around the globe ranging from global multinationals to family-owned and midsize enterprises, as well as unique and complex risks such as offshore wind parks, shipping or aviation fleets or Hollywood film productions, the company explained.

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

“Our commercial businesses have been united in ONE global model. 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,” according to Chris Townsend, member of the Allianz SE Board of Management.

Source: Allianz