27
Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities Kevin Leong CEO – AGCS Singapore Branch July 2012

Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

  • Upload
    ngokhue

  • View
    226

  • Download
    2

Embed Size (px)

Citation preview

Page 1: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

Allianz Global Corporate & Specialty

Allianz Global Corporate & Specialty in Asia PacificKey Facts & Peculiarities

Kevin LeongCEO – AGCS Singapore BranchJuly 2012

Page 2: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

2

Contents

About Allianz and Asia

Peculiarities in selected markets

Pages07 – 13

Page 3: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

3

Contents

About Allianz and Asia

Peculiarities in selected markets

Page 4: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

4

9,400GDP pc4,140,336,501Population

Asia Pacific Territory

11,800GDP pc7,012,050,100Population

World

48,100GDP pc313,847,465Population

USA

37,900GDP pc81,305,856Population

Germany

Population Details

Page 5: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

5

40,800GDP pc22,015,576Population

Australia49,400GDP pc

408,786PopulationBrunei

15,000GDP pc185,674Population

Guam

49,300GDP pc7,15,519Population

Hong Kong

2,300GDP pc14,952,665Population

Cambodia

8,400GDP pc1,343,239,923Population

China

3,700GDP pc1,205,073,612Population

India

4,700GDP pc248,216,193Population

Indonesia

34,300GDP pc127,368,088Population

Japan

2,700GDP pc6,586,266Population

Laos

27,900GDP pc4,327,944Population

New Zealand

2,500GDP pc6,310,129Population

Papua New Guinea

15,600GDP pc29,179,952Population

Malaysia

1,300GDP pc29,890,686Population

Nepal

4,100GDP pc103,775,002Population

Philippines

59,900GDP pc5,353,494Population

Singapore

31,700GDP pc48,860,500Population

South Korea

5,600GDP pc21,481,334Population

Sri Lanka

3,300GDP pc91,519,289Population

Vietnam

37,900GDP pc23,113,901Population

Taiwan

9,700GDP pc67,091,089Population

Thailand

Source: Central Intelligence Agency / The World Factbook (figures in USD / 2011 estimates, but Population is 2012 estimates)

Population Details

Page 6: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

6

AGCS Asia Pacific

Australia

Hong Kong

ChinaIndia

Japan

New Zealand

Singapore

Asia

PacificRegional Hub

AGCS Branch

AGCS Branch

AGCS Subsidiary

AGCS Virtual Offices

AGCS Virtual Offices planned 2012/2013

Page 7: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

7

Allianz Asia Pacific Network (P&C)

AustraliaBrunei

Guam

Hong Kong

Cambodia

ChinaIndia

Indonesia

Japan

Laos

New Zealand

Papua New Guinea

Malaysia

Nepal

Philippines

Singapore

South Korea

Sri Lanka Vietnam

Taiwan

ThailandAsia

Pacific

Regional Hub:AGCS/ Allianz SE

Reinsurance Branch & Asia Pacific Management

AGCS is the authorised Underwriter for Allianz SE Reinsurance BranchAsia Pacific & Allianz SE General Reinsurance Branch Labuan for facultative RI

Page 8: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

8

Allianz Global Business Lines in Asia Pacific

§ Corporate & Specialty Insurance(Allianz Global Corporate & Specialty)

§ Asset Management (Allianz Global Investors)

§ Assistance Services(Allianz Global Assistance)

§ Credit Insurance(Euler Hermes)

§ Reinsurance *(Allianz Reinsurance)

* Treaty Reinsurance

Page 9: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

9

Geographical Dimension

Travel TimeSingapore - > Tokyo 07:05Singapore - > Hong Kong 03:45Singapore - > Mumbai 05:05Singapore - > Sydney 07:25Singapore - > Auckland 09:45

Frankfurt - > New York 08:20

Page 10: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

10

UK Region: Belgium, Ireland, The Netherlands, S Africa Germany Region: Germany, Austria, Italy, Switzerland;Americas: USA, Canada, Brazil (reinsurance), Mexico (reinsurance)

Allianz Global Corporate & SpecialtyEstablished financial security through diversity

Americas 26%

UK Region 18%

Asia Pacific 6%

France 14%

Germany & CE 31%

Other 1%

Spain/Portugal 3%

Nordic & CEE 1%

A diversified business portfolio by geography

Page 11: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

11

Combined Gross Premiums 2011

AGCS Global AGCS Asia Pacific

Financial Lines 6%

Engineering 9%

Aviation 13%

ART 12%

Energy 4%

Others 2%

Property 21%

Liability 14%

Marine 19%

Financial Lines 16%

Engineering 13%

Aviation 6%

Energy 12% Others

11%

Property 16%

Liability 16%

Marine 9%

€4.9 billion € 267 million

Benefits of such diversity include lower capital requirements and smoothed performance – ensuring sustainability and stability for our clients.

A diversified business portfolio by segment

Allianz Global Corporate & SpecialtyEstablished financial security through diversity

Page 12: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

12

Contents

About Allianz in Asia

Peculiarities in selected markets

Pages07 – 13

Page 13: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

13

Allianz Global Corporate & Specialty AG Singapore BranchSingapore

Hong Kong Allianz Global Corporate & Specialty AG Hong Kong Branch

Peculiarities

§ Non-admitted insurance is allowed§ 40% premium withholding for 12 months§ Common Law Country§ No specific product liability law but other laws with an element of consumer protection,

such as Sale of Goods Act etc. There is no strict liability and no provision for punitive damages.

§ Non-admitted insurance is allowed§ Common Law Country§ No specific product liability law but other laws with an element of consumer protection,

such as Sale of Goods Ordinance etc. Strict liability applies for defective products and liability to pay statutory compensation for work-related accidents and diseases. No provision for punitive damages.

Page 14: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

14

Peculiarities

Allianz Australia Insurance Ltd.Australia§ Non-admitted insurance is allowed, but same taxes apply as to admitted policies plus

‘deemed profit’ tax (10% of corporate tax of 30%)§ Common Law Country§ Extensive laws protecting consumers, e.g. Product Liability Law is based on the EC

Product Liability Directives, various State Sale of Goods Acts. Class-actions and punitivedamages possible.

§ Terrorism Insurance Act 2003 – Liability policy to exclude Terrorism§ Most litigious country beside USA (NSW, Queensland)

New Zealand Allianz Insurance New Zealand Ltd.

§ Non-admitted insurance is allowed, but same taxes apply as to admitted policies plus‘deemed profit’ tax (10% of corporate tax of 28%)§ Common Law Country§ Accident Compensation Act (originally enacted in 1972), State sponsored no-fault accident

compensation system administered by Accident compensation Corporation (ACC)§ Product & Public Liability, exposure is mainly for property damage or what is not

statute-barred by the Act, i.e. shock, trauma compensation, occupational deceases and/orexemplary damages

Page 15: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

15

§ Non-admitted insurance is prohibited§ Policy wordings to be filled§ Cash before cover§ Compulsory cession to national reinsurer GIC (10%)§ Terrorism Pool (Property)§ Foreign remittance documentation (invoice)§ Common Law Country

Bajaj Allianz General Insurance Co. Ltd.India

Peculiarities

Japan Allianz Fire And Marine Insurance Japan Ltd.

§ Non-admitted insurance is prohibited § Civil Law country§ Product Liability Law 1994 and Consumer Product Safety Law § Policy wording to be approved§ Cash before cover§ Nil brokerage not allowed by Tax Office

Page 16: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

16

§ Non-admitted insurance is not allowed§ Common Law country§ Compulsory cession to national reinsurer Malaysian Re (10%)§ Priority compulsory usage of 1st tier reinsurers before usage of 2nd tier reinsurers (3rd)§ AGCS Singapore is authorized UW for Allianz SE General Reinsurance Branch Labuan§ Large & Specialized Risks (LSR) - Application of Central Bank / Scheme Manager

(Liability: RM 10m and Property RM300m)

Allianz General Insurance Malaysia BerhadMalaysia

Peculiarities

§ Non-admitted insurance is allowed§ 33% Premium withholding§ Policy wordings to be filled§ Product Liability Act 2009 (Punitive Damage, up to 2x the level of compensatory damages)§ Thai laws follow the pattern of civil law countries of conventional Europe

Allianz C.P. General Insurance Co. Ltd.Thailand

Page 17: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

17

§ Licensed for business in Guangdong (including Shenzhen) and Shanghai§ Nationwide for

a) Marine Cargo Businessb) Master policies

> 50% of Sum Insured/Contract Value/Turnover in Guangdong or Head Office/Accounting Department in Guangdong

c) Large Commercial RiskTSI/CV/TO > RMB150,000,000 (= EUR18,000,000)and GWP > RMB 400,000 (= EUR 50,000)

§ Non-admitted insurance and reinsurance prohibited (AGCS AG approved RI)§ Net retention (possibly 20%)§ Cession Rule (80%/20%) has improved § Wording approval§ Cash before cover for policies below RMB 100.000 (= EUR 12,000)§ Tort Liability Law enacted on 1 July 2010 (strict liability rather than fault based; product

recall obligation, concept of punitive damages§ Food safety Law (06/2009 sharpened after Melamine)

§ Policy currency in RMB, unless a) The insurable object moves between inside and outside of the territory of the PRCb) The insurable object exists or had been realized outside the territory of the PRCc) Same (b) through int’l leasing or syndicate loan or otherwise int’l financingd) Both the applicant and the beneficiary are overseas legal persons or natural persons

Allianz China General Insurance Company Ltd.P.R. China

Peculiarities

Page 18: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

18

Back-up

Page 19: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

19

§ With the opening of 5 Sales Service Centers in 2010, Allianz China Life now operates in eight provinces extending its presence to more than 30 cities.

§ In July 2010, Allianz China General was successfully converted into a subsidiary, fully owned by Allianz, based in Guangzhou. Now, it can apply for branches and conduct business in Provinces, Autonomous Regions and Municipalities beyond the Guangdong province.

§ By providing professional and innovative products and services, maintaining stable growth and establishing an efficient operation platform, Allianz China General won the Best Foreign P&C Insurer Award in 2010.

Allianz China Life Insurance Co. (1999)Allianz China General Insurance Company (2003)

Allianz Insurance Businesses

§ Allianz China Life is the first European life JV in China offering all lines of life insurance products and services through agency teams, banks, telemarketing and online sales channels. Supported by a strong network of 8 branches and over 60 sales service centers nationwide, it serves over 200,000 customers.

§ Allianz China General offers insurance services including property, liability, marine, motor, engineering and domestic credit insurance, short-term health insurance and accident insurance for domestic and foreign clients. It serves over 4,700 customers.

Company Profile

Performance Highlights

Corporate Profile

China

Page 20: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

20

Bajaj Allianz Life Insurance1 (2001)Bajaj Allianz General Insurance1 (2001)

§ Despite a very difficult market environment in India, BajajAZ managed to increase profitability while keeping revenues at a stable level of 1.7 billion Euros in 2010.

§ Bajaj Allianz Life won SKOCH Financial Inclusion Award. The award recognizes Bajaj Allianz’s micro-insurance product, Sarve/Swayam Shakti Suraksha (SSS), which is an affordable insurance product with a systematic savings option catering to rural markets.

Allianz Insurance Businesses

§ Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance have shown rapid growth since establishment in 2001. Bajaj Allianz offers Life Insurance (Individual and Group Insurance) and General Insurance (Motor, Health and Home insurance and innovative solutions like events, films and wedding insurance). Microinsurance products provide insurance access to the those who don’t have access to basic social protection.

§ Over a short period, the companies have established a pan-India presence in over 1,350 cities across India. BajajAZ companies are supported by a total of 125.000 agents nationwide. BajajAZ Life serves nearly 7.6 million customers and ranks 4th in the market. BajajAZ General serves 6.6 million customers and ranks 6th in the market.

Company Profile

Performance Highlights

Corporate Profile

India

(1) Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance are joint ventures between Allianz SE and Bajaj Finserv, the financial services arm of Bajaj Group.

Sources: Market rankings are based on market share in terms of unweighted total premium income from Watson Wyatt Asianlife insurance market update (March 2011) and local regulatory websites (December 2010)

Page 21: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

21

§ Allianz Life Malaysia offers a comprehensive range of life and health insurance and investment products. It is one of the fastest growing life insurance companies in Malaysia with a wide network of 23 branches and more than 4,800 agents. Serving over 343,000 customers, it ranks 6th in the market.

§ Allianz General Insurance is one of the leading general insurers in Malaysia with a broad spectrum of services in personal lines, small to medium enterprise business and large industrial risks. It is supported by a strong network of 35 branches and more than 5,200 agents nationwide. Serving over 2.2 million customers, it is the market leader with 10.5% market share.

Allianz Malaysia Berhad (Holding Company) (2001)Allianz General Insurance Company (Malaysia) BerhadAllianz Life Insurance Malaysia Berhad

§ Strong double-digit growth in Malaysian motor business supported the overall volume-driven increase in gross premiums in the region.

§ 2010 has been a remarkable year for Allianz General Insurance and the general insurance sector itself as it is the first general insurer to have crossed the RM1.3 billion (299 million euros) in GWP mark in Malaysia.

§ In 2010, Allianz Life Malaysia had 117 Million Dollar Round Table (MDRT) achievers, a high percentage in the industry.

Allianz Insurance Businesses

Company Profile

Performance Highlights

Corporate Profile

Malaysia

Sources: Market rankings are based on market share in terms of unweighted total premium income from Watson Wyatt Asian life insurance market update (March 2011) and local regulatory websites (December 2010)

Page 22: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

22

§ Ayudhya Allianz C.P. Life is the market leader in telesales. § Ayudhya Allianz C.P. Life is also perceived as the leader in digital

marketing and it has won two awards1. The International Business Awards 2010” (Stevie Distinguished

Honoree) in “Web Site & Blog” category2. I.F.C.A (Insurance & Financial Communicators Association) Award

(Honorable Mention Award) in Internet Advertisements category

§ Ayudhya Allianz C.P. Life has been operating in the Thai life industry for 60 years. It provides a full range of endowment, whole life, accidental and health products mainly through agents, banc assurance partners and direct marketing. With more than 22,000 agents, it serves over 900,000 customers and ranks 6th in the market.

§ Allianz C.P. General provides sound and tailor-made insurance solutions for industrial and commercial businesses through 443 agents and 150 retail brokers, serving over 127,900 customers. It ranks 18th in the market.

Ayudhya Allianz C.P. Life (2001)Allianz C.P. General Insurance (1997)

Allianz Insurance Businesses

Company Profile

Performance Highlights

Corporate Profile

Thailand

Sources: Market rankings are based on market share in terms of unweighted total premium income from Watson Wyatt Asian life insurance market update (March 2011) and local regulatory websites (December 2010)

Page 23: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

23

§ Assurances Générales du Laos has been the pioneer of Insurance in Laos since 1990 and has grown steadily and rapidly since then. Until the end of 2007 Assurances Générales du Laos was the only licensed insurance company.

§ With a composite license to provide customers with both life and non-life insurance cover, it serves over 50,000 retail customers and 7,000 organizations.

§ It has a diversified portfolio of clients with a variety of products ranging from personal insurance such as motor, home, accident, and health insurance to large industrial risks insurance for such risks as hydro power plants. It is the market leader in Laos with more than 88% market share.

Assurances Générales du Laos (1991)

§ Today Assurances Générales du Laos still remains a major player in the country and it has taken an active role in developing the domestic market and providing insurance education.

Allianz Insurance Businesses

Company Profile

Performance Highlights

Corporate Profile

Laos

Sources: Market rankings are based on market share in terms of unweighted total premium income from Watson Wyatt Asian life insurance market update (March 2011) and local regulatory websites (December 2010)

Page 24: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

24

§ In Taiwan, the world's sixth-largest market for life insurance, Allianz Taiwan Life recorded significant growth. Premiums in Taiwan, Allianz’ largest life insurance business in the region, grew to 2.2 billion euros in 2010, compared to 1.8 billion euros in 2009.

§ In 2010, according to the Life Insurance Association of Taiwan, Allianz Taiwan Life was the Number One Unit Link life insurance company based on new business sales.

§ Allianz Taiwan Life's GMMB product (named An Xin Li Cai) was awarded TheBest Innovative Life Insurance Product in the 2010 Faith Hope Love Award. This industrial award is conducted by Risk Management, Insurance & Finance Foundation on an annual basis.

§ Allianz Taiwan Life provides a full range of life insurance protection and unit-link savings products and services to its customers throughout Taiwan through its extensive network of agents and business partners. Leveraging on strong multi-distribution channels with over 1,700 agents, 46 sales offices, 33 banks/financial institutions and 41 broker partners, it serves about 286,000 customers and ranks 7th in the market based on GWP by the end of 2010.

§ As one of the most important life insurance markets for Allianz, Allianz Taiwan Life’s business enjoys profitable growth.

Allianz Taiwan Life (1995)

Allianz Insurance Businesses

Company Profile

Performance Highlights

Corporate Profile

Taiwan

Sources: Market rankings are based on market share in terms of unweighted total premium income from Watson Wyatt Asian life insurance market update (March 2011) and local regulatory websites (December 2010)

Page 25: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

25

§ Allianz Lanka continues to grow both in Life and General insurance business and maintains a growth rate well above the industry average.

§ The General business has continued to add value year on year, with growth momentum maintained in the top line as well as the bottomline. In addition, the underwriting profits increased to a substantial Rs.126 million (about 790 thousand euros), a 101% increase over the previous year.

§ Allianz commenced General Insurance operations in Sri Lanka in 2005 and Life operations in 2008. Allianz General insurance Lanka is one of the leading property and casualty insurers and the fastest growing insurer in Sri Lanka. With over 5,100 customers, it ranks 6th in the market.

§ Its life business operates through 9 sales offices with around 560 agents. It serves over 6,100 customers.

Allianz Insurance Lanka Ltd (2005)Allianz Life Insurance Lanka Ltd (2008)

Allianz Insurance Businesses

Company Profile

Performance Highlights

Corporate Profile

Sri Lanka

Sources: Market rankings are based on market share in terms of unweighted total premium income from Watson Wyatt Asian life insurance market update (March 2011) and local regulatory websites (December 2010)

Page 26: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

26

§ Premiums in South Korea grew by 10.3 % on an internal basis in 2010. § Allianz Korea Life’s Bancassurance Channel ranks 1st in the market based

on first month premium. It posted KRW 597.4 billion (387 million euros) in first month premium, taking the top spot with a market share of 10.9%.

§ Its solvency ratio is the industry’s highest at 609.9%. § Allianz Korea Life launched the Power Balance Variable Annuity product in

April 2010§ Allianz Korea Life launched the Power Balance Variable Annuity product in

April 2010. It has received two most honorable awards in the insurance industry “This Year’s Best New Financial Product Award,” given in December 2010 by the Financial Supervisory Service (FSS) and "Digital Financial Innovation Award," given by the Deputy Prime Minister.

§ Allianz Life Korea Insurance Co. Ltd. operates through more than 300 sales offices throughout South Korea with about 6,500 tied agents. Offering life insurance and financial products to approximately 1.2 million customers, it ranks 10th in the market.

Allianz Life Insurance Co. Ltd. (1999)

Allianz Insurance Businesses

Company Profile

Performance Highlights

Corporate Profile

South Korea

Page 27: Allianz Global Corporate & Specialty in Asia Pacific in Asia... · Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty in Asia Pacific Key Facts & Peculiarities

27

PT Asuransi Allianz Utama (1989) PT Asuransi Allianz Life (1996)

§ By working with 33 partners, Allianz offers microinsurance products including Credit Life insurance, Savings Insurance, Business Interruption Insurance and Micro-Education Endowments in Indonesia.

§ Allianz Utama was awarded as the “1st Best Non Life Insurance Company in 2010“ and “The Most Favorite Non Life Insurance Company 2010“ while Allianz Life received “2nd Best Life Insurance Company in 2010“ award from the Indonesian Insurance & Reinsurance Broker Association (ABAI).

Allianz Insurance Businesses

§ PT Asuransi Allianz Life is a leading provider of life & health insurance, pension funds, employee benefits and Takaful products. It serves over 400,000 customers and ranks 5th in the market.

§ PT Asuransi Allianz Utama offers comprehensive non-life insurance coverage to personal, commercial and corporate/industrial clients. Over 2,200 agents of Allianz Centers in Jakarta, Surabaya, Bandung and Denpasar are entitled to sell all life and non-life products. Serving over 60,000 customers, it ranks 6th in the market.

§ Allianz Indonesia employs about 1,000 staff and is supported by a total of 14,000 agents nationwide in 88 offices throughout more than 40 cities.

Company Profile

Performance Highlights

Corporate Profile

Indonesia

Sources: Market rankings are based on market share in terms of unweighted total premium income from Watson Wyatt Asian life insurance market update (March 2011) and local regulatory websites (December 2010)