November 2

2017
Allianz
SE

This paper presents the evolution of Allianz Group of almost 130 years International
since its beginning as a transport and accident insurer to the multinational
diversified insurance company that it is today. The paper focuses on the
Financial
global impact of the Allianz Group as it is present in 70 countries and is Services
one of the world’s strongest financial community.
Provider
Munteanu Bianca
Group 1750

Allianz SE

- International Financial Services Provider –

1. Facts about the company

Allianz SE is a German financial services company headquartered in Munich, Germany.

According to their 2016 financial report called “Strength Continuity Growth” Allianz SE and its
subsidiaries (the Allianz Group) offer property casualty insurance, life/health insurance and asset
management products and services in over 70 countries and most of their operations are located
in Europe.

The company was established in Berlin in 1890 by Carl Thieme (insurance specialist) and
Wilhelm Finck (banker). Its main activity was that of a transport and accident insurer. The initial
capital was that of four million marks.

After just three years, Allianz decided to go international and opened a London office, managed
by Carl Schreiner. By the beginning of World War I, Allianz would have reached and started
business in USA, Netherlands, Scandinavia, Italy, Belgium, France and the Balkans, therefore
20% of Allianz’ income was provided by international operations. They’ve encountered
numerous hardships, such as the 1906 San Francisco earthquake, where insurers all around the
world paid roughly 250 million dollars in claims or the loss of workforce at war times and the
crisis that resulted after Germany’s defeat. Despite all these problems Allianz became
Germany’s largest insurer.

In 1918 Allianz had the brilliant idea of investing into motor insurances and rightly so, as only 2
years later automotive traffic increases and Allianz become Germany’s largest motor insurer.
Not only this, but in 1920 Allianz expanded its area of expertise so much that it provided all the
property insurance policies of that time. After surviving the World War II crisis where many
companies were ruined, Allianz reconsidered its strategy and started economically and
geographically expanding. In 1973 Allianz became Europe’s largest insurer and in 1991 the
company took over an American insurance group (Fireman’s Fund Insurance Company in
Novato, California) and established a nationwide presence. The group also expanded to Asia, just
8 years later, in 1999, by providing insurances in case of fire disasters to certain Chinese cities.

According to the 2014 Forbes magazine edition, Allianz has been declared one of the world's
largest public company, ranking at the 21st place, being surpassed by only one company with the
same domain of activity ( diversified insurance), called Ping An Insurance Group.

For the last 2 years, Allianz occupied the 34th place in the Fortune Global 500 list. Their assets in
2017 have increased by $ 9 970 million dollars compared to 2016, but they have registered a
Munteanu Bianca
Group 1750

slight revenue decrease of 0.6% compared to the previous year. On the other hand, in 2017 their
profits have increase by 3.7% compared to 2016.

2. Type of company

The Allianz Group is a multinational company as it is active in almost every continent of the
world. The Allianz Group uses an integrated management and control process which implies first
designing the business strategies and goals and then submitting them to the Supervisory Board.

3. Degree of internationalization for 2016

𝐹𝑜𝑟𝑒𝑖𝑔𝑛 𝐴𝑠𝑠𝑒𝑡𝑠 𝐹𝑜𝑟𝑒𝑖𝑔𝑛 𝑆𝑎𝑙𝑒𝑠 𝑁𝑜 𝑜𝑓 𝐹𝑜𝑟𝑒𝑖𝑔𝑛 𝐸𝑚𝑝𝑙𝑜𝑦𝑒𝑒𝑠
+ +
𝑇𝑜𝑡𝑎𝑙 𝐴𝑠𝑠𝑒𝑡𝑠 𝑇𝑜𝑡𝑎𝑙 𝑆𝑎𝑙𝑒𝑠 𝑇𝑜𝑡𝑎𝑙 𝑁𝑜 𝑜𝑓 𝐸𝑚𝑝𝑙𝑜𝑦𝑒𝑒𝑠
TNI = *100 =
3

$663 927 𝑚𝑖𝑙 $89 664 𝑚𝑖𝑙 99 721

+ +
$922 121 𝑚𝑖𝑙 $129 948 𝑚𝑖𝑙 142 459
= * 100 = 70%
3

4. Allianz in Romania

Allianz is present in Romania with the Allianz-Tiriac Asigurari S.A. company which is the top
leader in the insurance market of Romania and it provides property and casualty insurance
products. The “Ion Tiriac” insurance society was founded in 1994 and is based in Bucharest,
Romania. The name changed to Allianz –Tiriac after the german group purchased 51 % of the
society’s shares in the year of 2000. Allianz-Tiriac Asigurari S.A. operates as a subsidiary of
Allianz New Europe Holding GmbH.

Bibliography:

 Allianz Group, “Strength Continuity Change”, Annual Report, 2016, Available at:
https://www.allianz.com/v_1489492630000/media/investor_relations/en/results/2016_fy/ar-2016-
annual-report-allianz-group.pdf, Accessed: 31/10/2017.
 Allianz Group, “HR Fact Book”, 2016, Available at:
https://www.allianz.com/v_1490273606000/media/about_us/hr-fact-
book/2016_HR_Fact_Book.pdf , Accessed: 31/10/2017.
 Fortune Global 500, “Allianz”, 2016, Available at: http://fortune.com/global500/2016/allianz/,
Accessed: 31/10/2017.
 Fortune Global 500, “Allianz”, 2017, Available at: http://fortune.com/global500/allianz/ ,
Accessed: 31/10/2017.
 Forbes, “ World’s Largest Public Companies”, Global 2000, 2014, Available at:
https://www.forbes.com/global2000/list/#industry:Diversified%20Insurance , Accessed:
1/11/2017.