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Allianz SE : An analysis on the German-based financial service provider and its reach across the globe

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"Allianz SE (Allianz), formerly Allianz AG, is aGermany-based global financial services provider. Thecompany offers a wide range of banking, assetmanagement and insurance services. Allianz is the parentcompany of the Allianz Group of companies. It providescasualty and life/health insurance products, travelinsurance, accident, fire insurance, property and generalliability insurance, annuity, term insurance products,traditional life, private health and supplemental health andcare insurance. The company, together with its subsidiaries, serves over 76 Million customers in morethan 70 countries across Europe, Asia-Pacific, America and Africa. It has a market capitalization of Euro 45.7 Billion. It employs 151338 employees globally and is headed by Michael Diekmann as the Chairman and CEO since 2003. As of 2011, Allianz has Euro1.4 Trillion of assets under management of which Euro1.31 Trillion are third party assets.

The company reported revenues of Euro 96.1 Billion during the fiscal year ended December 2010, an increase of 6.26% over 2009. The operating profit of the company was Euro7.1 Billion during the fiscal year 2010, an increase of 38.21% over 2009. The net profit of the company was €5 Billion during the fiscal year 2010, an increase of 20.11% over 2009. Net underwriting result decreased to € 161 million due to the burden of high impact natural catastrophe events on the loss ratio.Net income increased from Euro 1.9Billion to Euro2.1 Billion. Emerging markets in Asia are growth leaders in the non-life insurance market with 17.3% growth in real terms in 2010and is expected to grow by 12.5% in 2011, driven by 14.1% growth in China and 14.2% growth in Vietnam. Such emergingmarkets are expected to sustain annual growth of 8-10% over the next 10 years.

The global economic slowdown and recovery scenario are likely to create challenges for the company over the next fewyears. Refinancing needs close to Euro300 billion, according to the IMF, bonds maturing in the PIIGS countries (Portugal,Ireland, Italy, Greece and Spain) are expected to spill over to other regions resulting in adverse feedback loop. In March, 2011, company announced that its Indian unit which is a joint venture with Bajaj Finserv Ltd has appointed Berkshire India as corporate agent to sell its insurance products through online distribution portals and telemarketing.Further the company on April 04, 2010 launched Allianz Protect, an innovative online safe deposit service to the travelers inassociation with Air France and in partnership with Mondial Assistance."

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