Allianz facts for kids
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Headquarters in Munich
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Public (SE) | |
Traded as | |
Industry | Financial services |
Founded | 05 February 1890 |
Founders | Carl von Thieme Wilhelm von Finck |
Headquarters | Munich, Germany |
Area served
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Worldwide |
Key people
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Services |
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Revenue | ![]() |
Operating income
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AUM | ![]() |
Total assets | ![]() |
Total equity | ![]() |
Number of employees
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159,253 (2022) |
Subsidiaries | Allianz France Allianz Global Investors Allianz Life Bajaj Allianz Euler Hermes PIMCO |
Allianz is a big German company that offers financial services. It's based in Munich, Germany. Its main work involves insurance and managing money for others, which is called asset management.
Allianz is one of the largest insurance companies in the world. It's also one of the biggest financial services companies in Europe. In 2023, it was ranked 37th on the Forbes Global 2000 list, which names the world's largest public companies.
The part of Allianz that manages money, including companies like PIMCO and Allianz Global Investors, handles a huge amount of money. In early 2021, they managed about €2,432 billion in total.
Contents
History of Allianz
Starting the Company
Allianz AG was started in Berlin, Germany, on February 5, 1890. It was founded by Carl von Thieme and Wilhelm von Finck. The company was first known as Allianz Versicherungs-Aktiengesellschaft.
At first, Allianz offered insurance for ships and accidents only in Germany. But in 1893, Allianz opened its first international office in London. This helped German customers get insurance when they were abroad.
By 1900, Allianz was the first insurer to get a license to offer insurance to other companies. In 1904, Paul von Naher took over as the leader. The company then expanded into the US and other countries. By 1914, Allianz was the biggest marine insurer in Germany, with offices in many European and Asian countries.
In 1905, Allianz started offering fire insurance. In 1911, it began selling insurance for broken machinery. Allianz was the only company in the world to offer this kind of insurance until 1924. In 1918, they also started offering car insurance.
Growing in the 20th Century
In 1921, Kurt Schmitt became the new leader of Allianz. The company began offering life insurance in 1922. By the end of the 1920s, it was the largest life insurance provider in Europe.
Allianz grew by merging with other companies. In 1927, it merged with Stuttgarter Verein Versicherung AG. Two years later, it bought the insurance businesses of Favag, another large German insurer that went bankrupt during the Great Depression. By 1938, Allianz had more than 24,000 employees.
During World War II, Allianz's main office in Berlin was destroyed by bombs. After the war ended in 1945, Hans Heß became the company's head. Allianz moved its headquarters to Munich in 1949 because Germany was divided.
After the war, Allianz slowly started doing business around the world again. They opened an office in Paris in 1959. They also bought back parts of their old companies in Italy and Austria. In 1971, Wolfgang Schieren became the head of the company.
In the 1970s, Allianz expanded into the United Kingdom, the Netherlands, Spain, Brazil, and the United States. In the 1980s, they bought Cornhill Insurance in London and part of Riunione Adriatica di Sicurtà (RAS) in Milan. This helped them grow in Western and Southern Europe.
In 1990, Allianz started expanding into Eastern Europe, beginning with Hungary. In the same decade, Allianz bought Fireman's Fund in the United States and Assurances Générales de France (AGF) in Paris. They also expanded into Asia through partnerships and buying companies in China, South Korea, and Australia. Allianz also grew its asset management business by buying companies in California. In 1999, Allianz bought the investment management company PIMCO.
Allianz in the 21st Century

In 2001, Allianz bought most of Dresdner Bank. Allianz and Dresdner Bank then combined their money management activities to form Allianz Global Investors. In 2002, Michael Diekmann became the CEO of Allianz.
In 2006, Allianz changed its main company structure to a Societas Europaea (SE), which means "European Company." This made it one of the first big companies to do so. Allianz also changed its logo and brand strategy around this time. By 2008, Allianz was Europe's largest insurer.
In 2008, Allianz sold most of Dresdner Bank to Commerzbank. Later, Commerzbank bought the rest of Dresdner Bank. Allianz still owns about 14% of Commerzbank.
In 2013, Allianz X was created. This is Allianz's investment fund for new technology companies. In 2015, Allianz and other companies bought the German motorway service station group Tank & Rast. In 2018, Allianz partnered with TH Real Estate to help fund a new office building in London.
In 2020, Interbrand named Allianz the world's top insurance brand.
In 2021, Allianz started its own insurance asset management company in China. In 2023, Allianz put its share in the fintech company N26 up for sale.
Allianz's Money Matters
As of 2022, Allianz is the world's largest insurance company. It has about US$1.02 trillion in assets. For the year 2022, Allianz made €7.2 billion in profit. Its total yearly income was €152.7 billion, which was a small increase from the year before.
Where Allianz Operates
Allianz works in over 70 countries and has about 150,000 employees. Its main office is in Munich, Germany. Allianz serves more than 100 million customers worldwide. Its services include property and accident insurance, life and health insurance, and managing money for people and companies.
Australia
Allianz Australia Insurance Limited started in 1914. Allianz took full ownership of it in 1998. Allianz Australia works in Australia and New Zealand. It offers many types of insurance and risk management services. In 2012, Allianz Australia made a deal to rename the Sydney Football Stadium to Allianz Stadium.
Belgium
Allianz works through Allianz Belgium. In 2012, Allianz Belgium and Allianz Netherlands joined to become Allianz Benelux.
Bulgaria
Allianz Bank Bulgaria is a bank based in Sofia. It started in 1991. In 2003, it became Allianz Bank Bulgaria. The bank offers its services through many branches and agents across the country.
Canada
Allianz came to Canada in the early 1990s. When they left the personal and commercial insurance market, their business was sold to ING Canada (now Intact). Allianz Canada still operates in Cambridge, Ontario. In 2014, Allianz Canada joined with TIC Travel Insurance, becoming one of the biggest insurance companies in Canada.
China
In January 2021, Allianz was allowed to create Allianz Insurance Asset Management in Beijing. The next month, Allianz bought more shares in Allianz China Life Insurance Co. This made it China’s first insurance asset management company fully owned by a foreign company.
Colombia
In 1999, Allianz bought 60% of the shares of a Colombian insurance company called Colseguros. In 2002, Allianz became the full owner. In 2012, Colseguros officially changed its name to Allianz Colombia.
Finland
In 2017, Allianz and other companies bought Elenia. This company runs Finland's second largest power distribution system.
Germany
Allianz offers many types of insurance in Germany through its company Allianz Deutschland AG. It is the biggest insurance provider in Germany for both general and life insurance. Allianz products are mainly sold through its agents. Since 2010, they have also been sold through Commerzbank branches.
Greece
Allianz started working in Greece on December 2, 1985. Its first office was in Athens. Now, Allianz has almost 500 offices in Greece. In 2022, Allianz bought 72% of European Reliance.
India
In India, Allianz mainly works through Bajaj Allianz Life Insurance Company and Bajaj Allianz General Insurance Company Limited. These are joint companies with Bajaj Finserv Limited. Bajaj Allianz has about 1,200 branches across India. They offer many services, including health and pension plans.
Indonesia
Allianz began its work in Indonesia with an office in 1981. In 1989, Allianz started PT Asuransi Allianz Utama Indonesia, a general insurance company. In 1996, Allianz also started PT Asuransi Allianz Life Indonesia to offer life insurance.
Ireland
Allianz plc in Ireland has over 1,700 employees. It started in 1902. Allianz plc works in both the Republic of Ireland and Northern Ireland. It provides car, home, pet, boat, and travel insurance. It also offers insurance for small and medium-sized businesses. Today, Allianz in Ireland insures over half a million customers.
Israel
On April 9, 2019, Allianz started working with Cynet, a cybersecurity company. This helps Allianz deal with security threats.
Italy

The Allianz Group in Italy is led by Allianz SpA. It is the second largest in terms of premiums and fifth in terms of money managed.
The Italian company, Allianz SpA, was formed in 2007. It combined three older insurance companies: RAS, Lloyd Adriatico, and Allianz Subalpina.
Kenya
On November 25, 2016, Allianz opened its new office in Kenya. Allianz Kenya's CEO, Demba Sy, opened the new building, Allianz Plaza. The company offers life, health, property, accident, and credit insurance for businesses and people.
Malaysia
Allianz officially started in Malaysia in 2001. It became the main owner of Allianz General Insurance Malaysia Berhad ("AGIM"). In 2007, the general insurance part of AGIM moved to a new company called Allianz General Insurance Company (Malaysia) Berhad ("Allianz General"). Allianz Malaysia Berhad ("AMB") is a holding company that owns Allianz Life Insurance Malaysia Berhad ("Allianz Life") and Allianz General.
Mexico
Allianz Mexico started its operations in 1987.
Philippines
In 2003, Allianz AG started working in the Philippines with a partner company. This partnership lasted for five years.
Allianz returned to the Philippines in 2016. It now works with the Philippine National Bank and is called Allianz - PNB Life Insurance Incorporated.
Portugal
In 2018, Allianz bought the largest solar power project in Portugal that did not need government help.
Russia
Allianz started working in Russia in 1990. In 2018, Allianz also expanded its credit insurance business there. In June 2022, Allianz sold most of its Russian operations to a Russian company, but still kept a small part of it.
Slovakia

Allianz started its life and property insurance work in Slovakia in 1993. In 2001, Allianz AG bought most of the state-owned Slovenská poisťovňa (SP). The local Allianz company then merged with SP to create Allianz – Slovenská poisťovňa.
Turkey

Allianz's services in Turkey started in 1923. Allianz itself began working directly in Turkey in 1988. In 2013, Allianz Group bought Yapı Kredi Sigorta and Yapı Kredi Emeklilik. In 2014, Allianz Sigorta and Yapı Kredi Sigorta merged.
In 2015, Allianz Turkey moved its main office to Allianz Tower in Ataşehir, Istanbul.
United Kingdom
Allianz bought the British insurance company Cornhill Insurance plc in 1986. It was later renamed Allianz Insurance plc. Allianz also owns Petplan UK, which provides pet insurance. They also own Home and Legacy, an insurance broker.
In 2017, Allianz bought a part of Liverpool Victoria's general insurance division. In 2019, Allianz bought the rest of this division, as well as the general insurance business of L&G. These companies are now part of the Allianz group.
United States
Allianz has a presence in the United States. This includes Allianz Life Insurance Company of North America and Allianz Global Corporate & Specialty. Allianz Life Insurance Company of North America has been named one of the best companies to work for by Fortune Magazine. Allianz's investment part includes two money managers: PIMCO and Allianz Global Investors.
Allianz Leaders
The leaders of Allianz are part of its board of directors. The current CEO is Oliver Bäte. Other key members include Sergio Balbinot, Sirma Boshnakova, Dr. Barbara Karuth-Zelle, Klaus-Peter Röhler, Ivan de la Sota, Giulio Terzariol, Günther Thallinger, Christopher Townsend, Renate Wagner and Dr. Andreas G. Wimmer.
Sponsorships


Allianz lends its name to several sports stadiums around the world. These include the Allianz Arena, a football stadium in Munich, Germany. The football clubs Bayern Munich and TSV 1860 München have played their home games there.
Other stadiums named after Allianz include:
- Allianz Parque in Sao Paulo, Brazil
- Allianz Riviera in Nice, France
- Allianz Stadium in Turin, Italy
- Allianz Stadion in Vienna, Austria
- Allianz Field in Saint Paul, United States (for Minnesota United soccer team)
Allianz used to own the Polish football team Górnik Zabrze but sold its shares in 2011. Allianz has also been involved in Formula One racing since 2000, sponsoring teams like Mercedes GP Petronas.
In 2009, Allianz became a partner of the St. Andrews Links Trust for golf. In 2012, Allianz made a deal to rename the Sydney Football Stadium to Allianz Stadium. Also in 2012, Allianz partnered with the Saracens rugby team. They were their main shirt sponsor and also got the naming rights for their home stadium, which became Allianz Park. This deal ended in 2020.

Allianz has sponsored many other sports events, including:
- The Women's British Open (golf)
- Various golf tournaments like the Allianz Open de Lyon and Allianz Championship
- Tennis tournaments like the Allianz Suisse Open Gstaad and Allianz Cup
- Football leagues like La Liga and Premier League
- The FINA Swimming World Cup
In Ireland, Allianz sponsors the national Gaelic football league (the Allianz National Football League) and the national hurling league (the Allianz Hurling League). In Italy, Allianz is the main sponsor of the basketball club of Trieste, called Allianz Pallacanestro Trieste.
Allianz is also an official worldwide insurance partner for the Olympic Winter Games Beijing 2022, the Olympic Games Paris 2024, the Olympic Winter Games 2026, and the Olympic Games Los Angeles 2028.
Allianz and its Past

In 1993, Allianz started an archive to study its company history. In 1997, Allianz asked a history professor, Gerald Feldman, to research Allianz's activities during the time of Nazi Germany.
Allianz also helped create the International Commission on Holocaust Era Insurance Claims (ICHEIC). This group helped people who had insurance policies from that time. Allianz also became a founding member of the German Foundation "Remembrance, Responsibility and Future."
In 2001, Professor Feldman published his research findings. Based on this research, Allianz created an exhibition to share what they learned about their past. This showed that Allianz, as a company, worked with the Nazi government during that period.
See Also
In Spanish: Allianz para niños
- The Geneva Association
- Euler Hermes - an Allianz company