ALLIANZ

Overview

Allianz SE is a Munich-headquartered financial services group focused on insurance and asset management. Its core businesses are property-casualty insurance, life/health insurance, and asset management, and the group describes its activities as spanning the full value chain from product and service development, underwriting and distribution to claims management and investment management [1][2]. Founded in 1890, Allianz serves private and corporate customers worldwide and operates in nearly 70 countries [3][2].

The company positions itself as one of the world’s leading insurers and asset managers, with insurance products complemented by investment and asset-management services for both third-party clients and Allianz’s own insurance operations [2][4]. Its stated purpose is “We secure your future” [5]. As indicators of scale, Allianz reported around 128 million customers in almost 70 countries, total business volume of €179.8 billion in 2024, and 154,346 employees worldwide [2]+2. [1]+6

Products & services

Allianz’s insurance products are concentrated in two broad lines. In Property-Casualty, its offerings include motor liability and own-damage cover, accident, general liability, fire and property, legal expense, credit, and travel insurance for both private and corporate customers.[8] In Life/Health, Allianz offers annuities, endowment and term insurance, unit-linked and investment-oriented products, as well as full private health, supplemental health, and long-term care insurance on both individual and group bases.[9]

In asset management, Allianz’s main product families are offered through PIMCO and Allianz Global Investors and include equity, fixed income, cash, multi-assets, and alternative investments such as real estate, infrastructure debt/equity, real assets, liquid alternatives, and solution-based products.[10] The segment also provides institutional and retail asset-management products and services to third-party investors, and investment management services to Allianz’s own insurance operations; its primary markets are the United States, Canada, Europe, and Asia-Pacific.[11] Allianz defines multi-asset products as combinations of several asset classes, including bonds, stocks, cash, and real property, used to diversify portfolios.[12]

By operating profit in 2024, the largest product pools were Property-Casualty at €7.9 billion and Life/Health at €5.5 billion, followed by Asset Management at €3.2 billion; against group operating profit of €16.0 billion, these correspond to roughly 49%, 34%, and 20% respectively based on the reported segment figures.[13]+3 [8]+8

Geographic presence

Allianz SE and its subsidiaries operate in almost 70 countries, with the largest operations in Europe, and the parent company is headquartered in Munich, Germany.[17] Its insurance footprint is organized around German-Speaking Countries and Central Europe; Western & Southern Europe, Allianz Direct and Allianz Partners; Asia Pacific; the USA; and Global Insurance Lines & Anglo Markets, Iberia & Latin America, Africa.[18]+2 Countries explicitly listed in these regions include Germany, Switzerland, Austria, Poland, Romania, Italy, Türkiye, France, Belgium, the Netherlands, Luxembourg, Greece, China, Indonesia, Malaysia, the Philippines, Singapore, Taiwan, Thailand, India, Australia, the United States, the United Kingdom, Ireland, Spain, Portugal, Argentina, Brazil, Colombia, and Mexico.[19][20] Allianz also states that its Global Insurance Lines serve clients through a worldwide network of Allianz-owned offices and network partners, so not every country is listed separately.[21]

In 2024, Allianz reported Property-Casualty insurance revenue of €19.2 billion from German-Speaking Countries and Central Europe, €22.0 billion from Western & Southern Europe, Allianz Direct and Allianz Partners, €6.6 billion from Asia Pacific, and €30.5 billion from Global Insurance Lines, Anglo Markets, Iberia, Latin America and Africa.[22] In Life/Health, 2024 insurance revenue was €11.3 billion from German-Speaking Countries and Central Europe, €6.0 billion from Western & Southern Europe, €2.3 billion from Asia Pacific, €2.7 billion from the USA, and €1.0 billion from Global Insurance Lines, Anglo Markets, Iberia, Latin America and Africa.[22]

Allianz had 154,346 employees at year-end 2024, distributed across Western & Southern Europe, Allianz Direct and Allianz Partners (39,885), German-Speaking Countries and Central Europe (35,396), Global Insurance Lines & Anglo Markets, Iberia & Latin America, Africa (25,207), Asia Pacific (15,857), the USA (2,396), Asset Management (6,690), and Corporate and Other (28,915); Germany alone accounted for 40,104 employees.[23] Its asset-management presence also spans North and Latin America, Europe, and Asia Pacific, with listed locations including the United States, Canada, Brazil, Germany, France, Italy, Ireland, Luxembourg, Spain, Switzerland, Belgium, the Netherlands, the United Kingdom, Sweden, Japan, Hong Kong, Taiwan, Singapore, China, Australia, and Indonesia.[24] [17]+7

Business segments

Allianz reports four top-level business segments: Property-Casualty, Life/Health, Asset Management, and Corporate and Other. It also uses a more granular IFRS 8 reporting structure with 11 reportable segments in total: insurance activities are split into Property-Casualty and Life/Health and then grouped into German Speaking Countries/Central Europe; Western & Southern Europe/Allianz Direct/Allianz Partners; Asia Pacific; Global Insurance Lines/Anglo Markets/Iberia/Latin America/Africa; and USA for Life/Health only, while Asset Management and Corporate and Other are reported separately.[25]

Property-Casualty covers personal and commercial insurance products such as motor, accident, liability, fire and property, legal expense, credit, and travel insurance; in 2024 it contributed about 72% of group revenues and 49% of group operating profit.[8][26] Life/Health includes annuities, endowment and term life, unit-linked and investment-oriented products, plus private health, supplemental health, and long-term care insurance; it contributed about 21% of group revenues and 34% of operating profit.[9][26] Asset Management, centered on PIMCO and AllianzGI, offers equity, fixed income, cash, multi-asset, and alternative investment products and services; it contributed about 8% of group revenues and 20% of operating profit.[10][26] Corporate and Other comprises group holding functions, banking, and alternative/digital investments, and it recorded an operating loss equal to roughly 4% of group operating profit.[27][26] [25]+5

Company history

Allianz was founded in Munich in 1890 and was entered in the Berlin commercial register on 5 February 1890. Its early development was disrupted by the First World War, and after the Second World War the company moved its headquarters to Munich in 1949.[3]+2

A major phase of expansion came in the late 1990s and early 2000s. In 1998 Allianz obtained control of French insurer AGF, in 2000 it completed the acquisition of PIMCO Advisors, and in 2001 it agreed to acquire Dresdner Bank, extending the group beyond its traditional insurance base. In 2006, Allianz changed its legal form from Allianz AG to Allianz SE, marking an important structural milestone in its evolution as a European company.[30]+3 [3]+6

Sources

• ALLIANZ — Full financial report (2024 Y)
  25 citations

  [1][2][4][5][6][7][8][9][10][12][13][14][15][16][17][18][19][20][21][22][23][24][25][26][27]
• www.allianz.com[3]
• ALLIANZ — Full financial report (2023 Y)[11]
• www.allianz.com[28]
• www.allianz.com[29]
• eur-lex.europa.eu[30]
• www.globenewswire.com[31]
• money.cnn.com[32]
• www.allianz.com[33]