[RECORD NOMINATION] Europe Records Institute (EURI) – P20. Allianz SE (Germany) : The largest insurance company in Europe.

04-03-2020

(WorldKings.org) Allianz Group is a European multinational financial services company. It is the biggest insurance company in Europe.

 

 

Allianz SE  is a European multinational financial services company headquartered in Munich, Germany. Its core businesses are insurance and asset management. For the fiscal year 2017, Allianz reported earnings of EUR€6.8 billion, with an annual revenue of EUR€126.1 billion, an increase of 3% over the previous fiscal cycle.Allianz's shares traded at over €185 per share, and its market capitalization was valued at US€78.5 billion in November 2018. As of 2019, Allianz is the largest insurance company in Europe with $1,060.2 billion in assets according to Forbes. Its 2018 revenues stood at $145.7 billion. Allianz has operations in over 70 countries and has around 147,000 employees. Allianz has more than 85 million customers worldwide and its services include property and casualty insurance, life and health insurance and asset management

 

 

Allianz SE was founded in Berlin on 5 February 1890 by then director of the Munich Reinsurance Company Carl von Thieme (a native of Erfurt, whose father was the director of Thuringia) and Wilhelm von Finck (co-owner of the Merck Finck & Co bank). The first Allianz products were marine and accident policies first sold only in Germany, however in 1893 Allianz opened its first international branch office in London. It distributed marine insurance coverage to German clientele looking for coverage abroad. In 1900 the company became the first insurer to obtain a license to distribute corporate policies.

 

 

 

In 1905 the company acquired Fides Insurance Company, a firm that had innovated the first form of home invasion insurance. Other places it would expand into during the 1910s and 1920s included Palestine, Cyprus, Iraq, China, Indonesia, Sri Lanka, and Thailand. The company suffered an early disaster in expansion, when the 1906 San Francisco earthquake caused the company to sustain 300,000 marks in losses

 

Oliver Bäte, CEO of Allianz

 

In April 2001, Allianz agreed to acquire the 80 per cent of Dresdner Bank that it did not already own for US$20 billion. On 31 August 2008, it was announced that Allianz had agreed to sell 60.2 per cent of Dresdner Bank to Commerzbank for €9.8 billion (US$14.4 billion), with an agreement that Commerzbank would acquire the remainder of Dresdner Bank by the end of 2009. The sale price was lowered to 5.5 billion Euro. 

 

 

According to en.wikipedia

 


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