Allianz to operate global commercial insurance business under new model

It will serve the segment as one go-to-market business.

Allianz Group has restructured its global commercial insurance segment as a one-go-to-market business under the trading name Allianz Commercial.

In an announcement, Allianz Group said its new integrated approach encompasses its  Allianz Global Corporate & Specialty (AGCS) business serving large corporate clients and the insurance businesses of Allianz’s operating entities serving mid-sized country-based accounts.

The new global model will allow Allianz to extend its product offering.

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Allianz Group added that their clients and distribution partners will “experience consistent underwriting approaches and access harmonized insurance solutions that are globally coordinated and locally delivered with one market interface” through the new model.

“Allianz Commercial allows us to deliver the full value of Allianz’s scale and full set of capabilities for the benefit of our customers, brokers and shareholders,” said Chris Townsend, a member of the Allianz SE Board of Management.