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In the company began to offer fire insurance, and in it began to sell machinery breakdown policies. Allianz remained the only company in the world that sold machine breakdown insurance until In it began to offer automobile insurance as well. In Von Naher died and was succeeded by Kurt Schmitt. The company would begin to offer life insurance as of , becoming Europe's largest offerer of the policies by the end of the s. In Allianz merged with Stuttgarter Verein Versicherung AG and  two years later acquired the insurance businesses of Favag, a large German insurer that declared bankruptcy due to the onset of the Great Depression.
After World War II, global business activities were gradually resumed. Allianz opened an office in Paris in , and started repurchasing stakes in former subsidiaries in Italy and Austria. In Wolfgang Schieren became the head of the company.
These expansions were followed in the s by the establishment of business in the United Kingdom, the Netherlands, Spain, Brazil and the United States. In , Allianz started an expansion into eight Eastern European countries with establishing a presence in Hungary. These acquisitions were followed by the expansion into Asia with several joint ventures and acquisitions in China and South Korea and the acquisition of Australia's Manufacturers Mutual Insurance.
Around this time Allianz expanded its asset management business as well by purchasing for example asset management companies in California. As part of the transaction, Allianz agreed to sell its The reductions comprised 5, staff at Allianz insurance operations and 2, at Dresdner Bank. In the same month, Allianz announced that its Dresdner Kleinwort Wasserstein investment banking operation would be renamed as simply Dresdner Kleinwort.
European Company , becoming one of the first major companies to do so. The conversion to an SE was completed on 13 October In it was a founder member of the Hedge Fund Standards Board which sets a voluntary code of standards of best practice endorsed by its members. On 31 August , it was announced that Allianz had agreed to sell The sale price was lowered to 5.
Shortly after the transaction completed, Commerzbank was partially nationalized by the German government to save it from bankruptcy. Allianz has operations in over 70 countries and has around , employees. Tracing its roots back to , Allianz Australia Insurance Limited operates throughout Australia and New Zealand and through its subsidiaries offers a range of insurance and risk management products and services.
Allianz Bank Bulgaria is a universal commercial bank having its headquarters in Sofia. It was established in The bank possesses a full banking license for carrying out banking and financial transactions. Allianz entered the Canadian market in the early s through an acquisition of several North American insurers, namely the American Firemans Fund  and the Canadian Surety.
Allianz Canada has also merged with TIC Travel Insurance in and has become one of the largest insurance companies in Canada as a result. After almost 10 years in and with an evolutionary change of brand Colseguros dies as an official name and the entire operation of Colombia is consolidated under the name of Allianz.
Allianz offers a wide range of general, life and health insurance products in Germany through its Allianz Deutschland AG subsidiary. It is the market leader in both the general and life insurance markets.
Allianz products are distributed principally through a network of full-time tied agents. Since September Allianz products have also been sold through Commerzbank branches. In Greece Allianz began to work on 2 December Then was established the first Company's Office in Abelokipoi Athens. Now Allianz has almost Offices in Greece and a lot of people buies the products of the Company.
Bajaj Allianz has around 1, branches across India and offers services including unit-linked, traditional, health, child and pension policies. Allianz started its operations in Indonesia with a representative office in The Allianz Group in Italy is headed by composite insurance company Allianz SpA and it ranks second in terms of premiums written and fifth in terms of assets under management as well as fourth for financial advisors.
Ras, established in Trieste in and based in Milan part of the Allianz Group since , Lloyd Adriatico, established in and based in Trieste part of the Allianz Group since and Allianz Subalpina, established in and based in Turin formerly a subsidiary of Ras. On 25 November , Global insurance leader Allianz opened their new office in Kenya .
Their Services include life, health, property, accident and credit insurance for businesses and individuals. Allianz Kenya focuses on accelerating the growth of organic business while seeking to differentiate the service offering with quality service.
AMB is an investment holding company that has two wholly owned subsidiaries: Allianz acquired British insurance company Cornhill Insurance plc in , subsequently renamed Allianz Cornhill Insurance plc. This then simply became Allianz Insurance plc in April It also owns the high-net-worth insurance broker Home and Legacy, which it purchased in The investment bank has subsequently been merged with the corporate bank of Dresdner Bank and rebranded as Dresdner Kleinwort.
The deal had its personal lines go to Liverpool Victoria, creating a joint venture between the two firms, with the latter's commercial lines going to Allianz. Allianz provided naming rights for the Allianz Arena , a football stadium in the north of Munich, Germany.