Allianz Global Corporate & Specialty Company presentation October 2014
Allianz An Introduction Allianz Group is one of the world s leading insurers and financial services providers Founded in 1890 in Berlin, Allianz companies now extend to over 70 countries with approximately 148,000 employees and 83 million customers Insurer financial strength rating of AA ( Very Strong ) from S&P and A+ ( Superior ) from A.M. Best* International network of strong brands, with first-class products in the fields of: 1. property and casualty insurance 2. life and health insurance 3. asset management For more information visit www.allianz.com. *Ratings refer to Allianz SE and are correct as at 10/2013 2
Allianz Global Corporate & Specialty SE An Overview We are one of the few specialist corporate insurers with a genuine global market presence who can provide one carrier insurance solutions across the whole spectrum of corporate and specialty risks. Diversified product portfolio Wide range of complementary services, including specialist non-traditional risk transfer solutions provided by our subsidiary ART Financial strength: 5.0 billion GWP (2013)* Global reach: integrated in the Allianz network of more than 150 countries worldwide Extensive international experience: manages some 2,000 International Insurance Programs More than 3,500 dedicated employees Product lines Alternative Risk Transfer Energy Financial Lines Liability / Casualty Property Aviation Engineering / Construction Global Programs Marine Risk Consulting *All AGCS companies 3
Allianz Global Corporate & Specialty SE At a glance Full range of products and services covering corporate and specialty insurance Provides insurance for more than half of the Fortune Global 500 companies Extensive international experience and worldwide network Market leading capacity to handle the largest risks Local decision making delivering fast responses Revenues of 5.0 billion (gross premium 2013)* Single point of access dedicated client teams and Key Account Managers Diversified risk portfolio and capital efficiency offers stability and long term consistency Consistently strong ratings: AA ( Very Strong ) from Standard & Poor s, A+ ( Superior ) from A.M. Best** Allianz Global Corporate & Specialty SE has been designed, structured and built to fit the needs of global clients. *All AGCS companies ** AGCS SE and AGCS North America, correct as at 11/2013 4
Allianz Global Corporate & Specialty SE Established financial security through diversity Gross written premiums 2013 by business line Gross written premiums 2013 by region (incl. ART) Total combined gross premium 2013 (incl. ART): 5.0 billion Significant underwriting capacity for large corporate risks worldwide A diversified business portfolio both by segment and geography Benefits of such diversity include lower capital requirements and smoothed performance ensuring sustainability and stability for our clients. 5
Allianz Global Corporate & Specialty SE - Results 2013 mns 2011 2012 2013 Gross Premiums 4918 5314 4999 Net prem. earned 3088 3299 3462 Operating Profit 549 420 483 Combined Ratio 93.8%* 96% 93% 2013 Results in summary *excluding ART Gross Premiums Written were affected primarily by negative foreign exchange movements and by continuing competitive pricing pressure, notably in the Aviation sector. Attracted new business around 888mn (excl. ART). Positive combined ratio supported by lower catastrophe and large loss activity than in 2012. 2013 Key Milestones AGCS continues to expand with two local reinsurer offices in Brazil (Rio de Janeiro and São Paulo) and a new branch in Stockholm, Sweden. In July, AGCS launched its new Allianz Cyber Protect product with marketleading limits of up to 50mn In November, AGCS AG merged with AGCS France and adopted the legal form of a Societas Europaea or SE, with retroactive effect from Jan 1, 2013. A strong and sustainable performance in continuously challenging conditions. 1) All AGCS companies 6
Allianz Global Corporate & Specialty SE Global Projects a selection Siemens: the world s largest gas turbine in Germany BARD: offshore wind park in Germany AMEC / Incheon Bridge Company Incheon Grand Bridge in South Korea Royal Caribbean: the world s largest cruise ship Inditex: International Insurance Program in 32 countries EADS: A380, the world s largest passenger aircraft 7
AGCS SE ratings AGCS remains one of the highest rated global P&C insurers Allianz Global Corporate & Specialty (AGCS) company name Standard & Poor s FSR Outlook FSR Outlook A.M. Best AGCS SE, AGCS North America 6 AA Stable 1 A+ Stable 2 Allianz Risk Transfer AG AA- Stable 3 A+ Stable 2 Allianz Fire & Marine Insurance (Japan) Ltd. Allianz Global Corporate & Specialty Resseguros Brasil S.A. 7 AA Stable 2 n/a n/a BBB+ Stable 4 A Stable 4 AGCS South Africa 8 BBB+ Stable 5 n/a n/a 1 November 2013 2 July 2014 3 June 2013 4 March 2014 5 August 2014 6 AGCS NA includes Allianz Global Risks US Insurance Company, Allianz Underwriters Insurance Company, AGCS Marine Insurance Company. 7 First time rating by A.M. Best published in March 2014 8 First time rating by S&P for AGCS South Africa published in August 2014; rating is limited by country rating. Copyright Allianz 14-10-27 8
The Allianz Network Combining one of the largest own-office networks with carefully selected partners, Allianz Global Corporate & Specialty provides a truly global reach. For details on our global network please visit www.agcs.allianz.com/global-offices Covering more than 150 countries worldwide, our network ensures that clients have access to Allianz services wherever and whenever they need it. 9
Working with the Allianz Group Our ability to introduce additional services means that we can harness the full benefits of being part of the Allianz Group offering more than you might expect. Travel insurance and assistance services for corporate customers. International health insurance services for employees, individuals and their dependants. Trade credit insurance and credit risk management. Asset management products and solutions for retail and institutional investors worldwide. Allianz Group consists of more than 250 companies worldwide offering financial solutions from A-Z 10
Claims Services Experts beyond underwriting We field a team of claims specialists with many years of hands-on expertise of all types of claims, across all product lines. Claims handling is the 'acid test' of our services, and our clients and brokers should expect nothing less than a first class response from AGCS. Our aim is always to deliver a prompt and consistently fair approach to all our clients and brokers. We have an established reputation for claims handling on a worldwide basis for clients with international exposures, with a global network of contacts and local support. Claims service is a core topic in our broker account meetings and we respond quickly to broker feedback. With Allianz Global Corporate & Specialty, claims handling is always a key focus of our service - never an after-thought. 11
Risk Consulting Services Expert support and advice Our multi-disciplined team of Chartered Engineers and Risk Consultants provide technical expertise and risk management solutions across a wide range of commercial and industrial operations. Construction/ Civil Engineering (CAR) Projects Machinery Intensive Construction (EAR) Projects Operational Power Plant, Machinery and Process Equipment Health and Safety (Employer s, Public and Product Liability) Marine, Logistics and Transportation We believe that only by striving to understand each client s individual requirements can we help manage and reduce risk. 12
Key Account Management A core of our service Excellent client service - delivered - is the defining factor for global account success Key Account Managers provide single point access to Allianz, ensuring a structured approach to account support and service delivery Combining technical and product insight with client service know-how Regular client/broker/insurer coordination and ready access for clients and brokers to local and global decision makers Integrated team approach from claims to local operations Similar profiles and transparent structures globally ensure reliable service delivery Your Key Account Manager is your key contact of choice the foundation of a trusted partnership. 13
International Insurance Solutions (IIS) Allianz Global Corporate & Specialty has an established reputation as a leading provider of international insurance programs bespoke insurance solutions for clients with international risk exposures. Providing cover for risks in more than one country via a Master Policy, plus locally admitted policies placed with Allianz companies or our partners Difference in Conditions/Difference in Limits (DIC/DIL) cover provided by the Master policy to eliminate gaps in coverage Information about global exposures is coordinated centrally IIPs enable clients to benefit from central coordination and harmonized global cover across all locations - all managed via the Allianz network In 2013, Allianz Global Corporate & Specialty managed some 2,000 global programs for corporate clients. 14
Allianz Global Corporate & Specialty Questions or comments? For further information please contact your local AGCS representative or: Hugo Kidston Global Head of Communications +44 20 3451 3891 hugo.kidston@allianz.com Heidi Polke Global Communications and Media Relations +49 89 3800 14303 Heidi.polke@allianz.com www.agcs.allianz.com 15