The AGF Group is a major player in insurance and financial services, both in France and in more than twenty countries around the world. It has more than 60 billion clients from more than 70 countries world-wide. Backed by the n° 1 in European insurance, Allianz AG, of which it is a major entity, AGF is a general insurance company offering life and health, and property and liability insurance, as well as banking and asset management services. AGF is also a world leader in credit insurance with Euler Hermès and in assistance and travel insurance with Mondial Assistance. Allianz has given AGF the responsibility for developing business on the group's behalf in a number of counties where AGF has historical ties. They include: France, Benelux, Spain, South America, Africa and the Middle East. More than 90% of its activities are concentrated in Europe with 64% in France. AGF has existed for more than 180 years. And today it is one of the Allianz Group's main entities, and responsible for a major portion of its revenues and operating in one of its core business, namely the insurance of property and people in Western Europe. Since April 1998 Allianz has had a controlling interest in AGF and today holds 58.8% of its share capital. AGF has a legal status of a public limited company with its board of directors. Since insurance is a subject to tight regulatory and business constraints based on the country, the Allianz Group has adopted decentralized management model, where AGF local teams are responsible for different entities and manage their business while informing and carrying out regular information exchange with managers of their business within the parent company.
[...] In order to economize so precious time I invented a new method of reconciliation using some formulas in Excel. I feel proud about it, and think that it was one of the areas where I performed particularly well. Another activity that I believe performed particularly well is stock matching between new system GPFI and ancient systems like IDEE and GPI. I discovered some new reasons of differences in stocks; and together with IT technician we eliminated some of them so that they wouldn't appear in future Specific Cultural Issues related to the French Professional Environment Importance of rules: In the French society and in the French corporate world in particular, rules have a very important place. [...]
[...] Financial accounting is responsible for: - Accounting of all the economic events linked to the activities over securities - Issuance of all the accounting records for each closing that are demanded by different directions of the Group - Transfer of the accounting data to the General accounting department of AGF - Reporting to the mother company, Allianz AG, by SCF (Financial Accounting System of AGF) - Accounting of trust companies Middle office is responsible for: - Management of Units of Accumulation (contracts or investments made by clients into company's portfolios, where client itself accepts the risk, and assets are property of the insurer) - Administration of the database of courses - Management of strategic shareholdings - Reporting on shareholdings - Administration of the interface IDEE / GPFI (GPI) Middle Office has special integrated systems for managing relations and executing orders. [...]
[...] Main competitors (Turnover in billions Euro, 2003): - AXA ( 71.6 ) - CNP ( 19.5 ) - GROUPAMA ( 12.88 ) - GENERALI ( 8.5 ) - ACM - AVIVA ( 4.4 ) Allianz AG had a turnover of 43 billions Euro in Organizational culture The organizational culture of AGF is based on four main values: Ambition, Confidence, Talent and Performance. As a consequence, there is an overall continuous challenge of taking leadership and being expert in its domain throughout AGF. [...]
[...] Allianz and AGF are performed particularly well in the areas of sustainability expertise, risk and crisis management, internal scorecards and products which generate social value added Product / service description AGF helps individuals, companies and professionals to fulfill their potential face risks and realize their financial goals. The company therefore offers a complete range of performing products in areas of insurance and financial services. Insurance products AGF covers personal, corporate and public insurance sectors and provides a wide and innovative variety of products and services: Property & liability insurance (insurance of auto / moto, dwelling, legal liability, etc.) Life insurance (variety of different contracts) Savings insurance Supplementary health insurance (individual) & public health insurance Credit insurance (Euler Hermès) Assistance (Mondial Assistance) Travel insurance Financial services Financial products include: financial and real estate investment, asset management and banking. [...]
[...] Bibliography http://www.allianzgroup.com/Az_Cnt/az/_any/cma/contents/206000/saObj_ 206859_ 2001_AGF_finrep_e.pdf http://www.allianzgroup.com/Az_Cnt/az/_any/cma/contents/339000/saObj_ 339057_04_03_19_Analysts_Conference_2004.pdf http://www.allianzgroup.com/Az_Cnt/az/_any/cma/contents/464000/saObj_ 464342_2003_AGF_Annual_Report.pdf http://www.agf.fr/pdf/09/cat304va.pdf http://www.pc.gov.au/study/insurance/finalreport/chapter03.rtf Annual Report 2003 of AGF Information from colleagues PowerPoint presentation of DII structure and placement within AGF Brochures with some statistics and historical data distributed within AGF Information received from the training “Insurance” Appendix 1 Management Structure of AGF Appendix 2 - The research of a placement During my research I have envisaged three main challenges: In the beginning of my research I've looked for any company, in any sector - the only criteria was “Financial domain”. [...]
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