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Placement report: Assurances générales de France of Allianz AGF

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  1. Structure and activities of AGF.
    1. Contact details.
    2. Nature of the business.
    3. Legal structure of AGF.
    4. Management structure of AGF.
    5. Size, number of staff, key figures for 2000-2003.
    6. Vision of AGF.
    7. Strategic objectives.
    8. Product/service description.
    9. Market of insurance.
    10. Target markets.
    11. Competition and market positioning.
    12. Organisational culture.
    13. Communication style.
    14. International orientation.
    15. Formal appraisal process within AGF.
  2. Personal reflection and evaluation of placement.
    1. Details of my department - Department of the insurance investment.
    2. Relations of the department of the insurance investment with rest of AGF structures.
    3. Description of the work performed.
    4. My personal reflection of the way I carried my duties and areas of particular challenge.
    5. Activities where I feel performed particularly well.
    6. Specific cultural issues related to the French professional environment.
    7. Aspects of my personality that are new to me and that might need further development.
  3. Bibliography.

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. [...]


[...] 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. The following charts show a redistribution of AGF activities: 3. Legal structure of AGF 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. [...]

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