Your Location: Home > Allianz in China
 > Allianz in China

Allianz’s business involvement in China dates back to 1917, when it provided fire and marine insurance coverage in coastal cities like Shanghai. In the early ‘80s, Allianz was the first international insurer signing cooperation agreements with Chinese insurance companies such as PICC, PAIC and CPIC regarding reinsurance support and know-how transfer.

In 1994, Allianz established representative offices in Beijing, Shanghai and Guangzhou [Representative office in Guangzhou and Shanghai was closed in 2003 and 2008 respectively.]. Over the years Allianz established many operations in 8 provinces and municipalities in China. With more than 1,700 employees, Allianz is present in nearly all its core businesses.

With over 100 years’ insurance experience and an international network, Allianz supports the domestic financial service industry as well as governmental authorities with numerous know-know transfer activities. At Tongji University, Allianz has set up a chair, which offers postgraduate programs and degrees in insurance business management.

In January 2006, Allianz signed the Strategic Investment and Partnership Agreement with the Industrial & Commercial Bank of China (ICBC) and started to explore strategic cooperation together with the domestic banking giant.

Following the initial investment of 150 million US dollars during the H share IPO of China Pacific Insurance (Group) Co., Ltd. (CIPC) in December 2009, Allianz now owns a total of 240 million H shares in CPIC representing approximately 2.8 percent of CPIC's total outstanding shares and 10.4 percent of the H shares.

Core Businesses in China
Life and Health insurance – The first European life insurance company in China, Allianz China Life Insurance Co., Ltd., a joint venture between Allianz SE (51%) and CITIC Trust Co. Ltd. (49%) with registered capital of 2 billion RMB, commenced operations in Shanghai on 25 January 1999.

Asset management - As a joint venture between Guotai Junan Securities (GTJA) and Allianz Group (49%), Guotai Junan Allianz Fund Management Co. was established in April 2003. Up to now the company has launched fourteen fund products, among which stock fund 5, partial stock mixed fund 3, mixed bond fund 2, GTJA-Allianz monetary market fund, Shuangxi Classified CSI 100 Index Fund, SSE Commodity Equity index ETF and Feeder Fund.

Property and Casualty insurance – Allianz’s first property insurance branch in China - Allianz Insurance Company Guangzhou Branch (AZCN) - commenced operations in February 2003, offering a series of insurance services including property, liability, marine, engineering, motor and domestic credit insurance, as well as short-term health insurance and accident insurance for domestic and foreign clients within the province of Guangdong including Shenzhen. Nationwide, AZCN as well underwrites the LSCR (Large Scale Commercial Risks).

Auto and Travel Assistance Services – Allianz Global Assistance Group (then Mondial Assistance China), a member of Allianz Group specializing in automotive, travel and medical assistance services, was the first international assistance company to enter the mainland China market in 2003 as an approved wholly-foreign-owned-entity. With branch offices in Shanghai, Guangzhou, Chongqing, Chengdu and Shenzhen, and more than 15,000 network partners located across the country, Allianz Global Assistance China has the structure and capability to provide service solutions on a nationwide basis. Working in partnership with car manufacturers, insurance companies, hospitals, financial institutions and travel agencies, Allianz Global Assistance China currently provides roadside assistance, travel and medical assistance services as well as extended warrantee in China.