News: Allianz Se
Allianz SE, formerly known as Allianz AG, together with its subsidiaries, operates as an integrated financial services provider.
One of the world’s biggest insurers, Allianz SE offers a range of insurance products and services including life, health, and property/casualty coverage for individuals and businesses through some 100 subsidiaries and affiliates operating all over the globe.
Its core business and focus is insurance.
Around this time Allianz expanded its asset management business as well by purchasing for example asset management companies in California.
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The Company and its subsidiaries have global Property-Casualty insurance, Life/Health insurance, Banking and Asset Management operations.
The Property-Casualty segment offers property-casualty insurance products consisting of individual, motor injury, liability, homeowner and accident insurance, among others.
In addition to selling insurance, Allianz provides retail and institutional asset management services through Allianz Global Investors and private equity investment through Allianz Capital Partners.
SE is a large financial services provider headquartered in Munich, Germany.
The Company offers insurance, banking and asset management products and services to more than 60 million customers in over 70 countries.
Europe, Allianz is a well-known and trusted brand.
Its Dresdner Bank subsidiary is one of Germany’s largest banks, offering both retail and investment banking.
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Allianz has recently announced plans to sell its ownership of Dresdner Bank to Commerzbank, largely for shares.
Allianz put a sudden halt to its Canadian P&C operation Allianz Canada in 2004 after several years of unfavorable business results.
In its property and casualty insurance sector, which is overseen by Munich-based Allianz Versicherungs-AG, Allianz is the leading insurance provider in Germany and one of the largest providers of corporate insurance in the world.
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When these negotiations unexpectedly broke down early in 1922, Schmitt, by then chairman of the board of Allianz, founded within the space of ten days the Allianz Lebensversicherungsbank-AG , which by 1927 had grown into the largest life insurance company in Europe.
Eduard Hilgard, an Allianz General Director, was head of the Reich Association for Private Insurance during the entire Nazi regime, and was responsible for creation and enforcement of the Nazi policy to terminate or refuse to pay off any life insurance policies issued to Jews, instead sending beneficiary payments directly to the Nazis.
After World War II, global business activities were gradually resumed.
