Allianz

Allianz is an international financial services group headquartered in Munich, Germany. Its main activities comprise property and casualty insurance, life and health insurance, and asset management for individual, corporate and institutional clients. Through its insurance operations, the group provides protection against property, liability and other risks, as well as long-term savings-related products. Its asset management activities serve both third-party and affiliated institutional investors. Allianz operates across multiple countries and is particularly well known in European markets, while also maintaining an international presence. The group structure connects insurance underwriting, long-term capital management and institutional investment services, with products and operating entities varying by local market and regulation.

Allianz was created during Germany’s late nineteenth-century industrial expansion. Carl von Thieme, then associated with Munich Re, and banker Wilhelm von Finck founded the company, which was entered in Berlin’s trade register on February 5, 1890. Its original business concentrated on marine and accident insurance. The first international office opened in London in 1893, serving German customers with overseas marine coverage. Allianz later added fire insurance, machinery-breakdown insurance and corporate policies, using product expansion to reduce dependence on individual lines of business. The company expanded rapidly before the First World War. It entered markets in the Netherlands, Italy, Belgium, France, Scandinavia and the Baltic region, and became a leading German maritime insurer. Allianz also acquired Fides Insurance Company in 1905, gaining an early form of household burglary protection. The 1906 San Francisco earthquake produced significant losses for the young international business, demonstrating both the potential and the risks of global underwriting. Automobile insurance was introduced in 1918 through Kraft Versicherungs-AG, while life insurance was added in 1922. By the end of the 1920s, Allianz had become one of Europe’s leading life insurers. A merger with Stuttgarter Verein Versicherung AG in 1927 strengthened the company’s accident and liability operations. In 1929, Allianz acquired the insurance business of Favag after that company failed during the early stages of the Great Depression. The episode reinforced the importance of scale and diversification, although the economic crisis slowed further expansion. The Nazi period is a central and troubling part of Allianz’s history. Director-General Kurt Schmitt was appointed economics minister in Hitler’s first cabinet and became associated with the Nazi regime. Allianz supported Nazi institutions, participated in the forced transfer of Jewish insurance businesses, and insured SS-related industrial facilities, concentration-camp infrastructure and prisoner-related assets, including operations connected with Auschwitz, Buchenwald and Dachau. The company benefited economically from the regime’s expansion and persecution. Allianz’s modern historical work has emphasized transparency and critical self-reflection regarding these activities. Allianz’s Berlin headquarters were destroyed by Allied bombing during the Second World War. After 1945, the company rebuilt under Hans Hess and Hans Goudefroy and moved its headquarters to Munich in 1949. In 1956, it became the first major European insurer to install an IBM 650 mainframe, an early example of the administrative and actuarial automation that later became essential to the insurance industry. International operations were gradually restored, including in France, Italy and Austria. From the 1970s through the 1990s, Allianz developed into a multinational group. It expanded into the United Kingdom, the Netherlands, Spain, Brazil and the United States, acquired Cornhill Insurance in London, purchased a major stake in Italy’s Riunione Adriatica di Sicurtà, and entered Central and Eastern Europe after the end of the Cold War. It also acquired Fireman’s Fund in the United States, Assurances Générales de France and Manufacturers Mutual Insurance in Australia. The 1999 acquisition of PIMCO gave Allianz a major institutional asset-management platform and laid the foundation for its later combination of insurance and investment management. The 2001 acquisition of Dresdner Bank represented Allianz’s most ambitious attempt to build an integrated insurance-and-banking group. Allianz combined asset-management activities from the two organizations, but the banking business exposed the group to complexity and financial-market risk. During the global financial crisis, Allianz sold Dresdner Bank to Commerzbank in stages, with the final transfer completed in January 2009. The disposal refocused Allianz on insurance, asset management and related financial services. Allianz converted its holding company into Allianz SE in 2006, a structure suited to its European footprint, and simplified its visual identity under a unified master brand. The group subsequently invested in technology, digital distribution, assistance services and new insurance platforms. Allianz X, launched in 2013, provided a dedicated investment vehicle for digital and technology companies. Sports partnerships became a major part of the brand’s international identity. Allianz supported Formula One safety initiatives, FC Bayern Munich and Allianz Arena, stadiums in markets such as Sydney and Nice, and the Olympic and Paralympic Movements. Its worldwide Olympic and Paralympic insurance partnership began in 2021 and was extended through 2032 in 2025. The Paris 2024 Games provided a large global marketing platform through the Get Ready campaign and through insurance, medical-assistance, cancellation, property and liability services. The group has also faced substantial legal and reputational challenges. Allianz Global Investors’ Structured Alpha funds suffered catastrophic losses during the COVID-19 market turmoil. United States regulators found that the US asset-management business and former portfolio managers had misled investors regarding downside risks and fund performance. The 2022 resolution included more than US$1 billion to resolve Securities and Exchange Commission charges and more than US$5 billion in restitution as part of the integrated global settlement. In 2025, Allianz Australia and AWP Australia were convicted and fined A$16.8 million over misleading travel-insurance statements. By 2026, Allianz remained a leading global insurer and asset manager with operations in almost 70 countries, around 97 million private and corporate customers and more than 156,000 employees according to the company’s current profile. Its strategic priorities include technology-enabled customer service, protection and retirement solutions, asset management, sustainability integration and disciplined international growth. The proposed acquisition of HSBC Life Singapore, announced in July 2026 and subject to regulatory approval, illustrates the group’s continuing focus on Asia-Pacific life, health, wealth and retirement markets.

1. 2026HSBC Life Singapore acquisition announced

   Allianz agrees to acquire HSBC Life Singapore and establish a 15-year exclusive distribution partnership with HSBC Singapore, subject to regulatory approval.

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2. 2025Olympic partnership extended through 2032

   Allianz and the Olympic and Paralympic organizations extend their worldwide partnership to include the 2030 and 2032 Games.

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3. 2024Income Insurance offer withdrawn

   Allianz withdraws its proposed majority acquisition of Singapore’s Income Insurance after regulatory and political opposition.

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4. 2022Structured Alpha settlement

   Allianz and Allianz Global Investors resolve US enforcement actions and investor claims arising from the Structured Alpha funds.

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5. 2021Worldwide Olympic and Paralympic partnership begins

   Allianz becomes the Worldwide Insurance Partner of the Olympic and Paralympic Movements, extending an earlier Paralympic relationship.

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6. 2013Allianz X is established

   Allianz creates Allianz X as a technology and digital-investment platform.

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7. 2009Dresdner Bank sale completed

   Commerzbank completes its acquisition of Dresdner Bank, ending Allianz’s large-scale banking expansion.

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8. 2006Allianz becomes Allianz SE

   The group completes its conversion into a societas Europaea and simplifies its master-brand strategy.

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9. 2001Dresdner Bank acquisition announced

   Allianz announces the acquisition of the remaining shares of Dresdner Bank and combines the groups’ asset-management operations.

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10. 1999PIMCO is acquired

    Allianz acquires investment manager PIMCO, significantly expanding its institutional asset-management capabilities.

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11. 1956Early insurance-industry computing milestone

    Allianz installs an IBM 650 mainframe, becoming the first major European insurance company to adopt this type of computer.

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12. 1927Merger with Stuttgarter Verein

    Allianz merges with Stuttgarter Verein Versicherung AG, strengthening its accident and third-party liability businesses.

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13. 1922Life insurance becomes part of the portfolio

    Allianz begins selling life insurance and later becomes one of Europe’s largest providers of the product.

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14. 1918Automobile insurance introduced

    Allianz enters automobile insurance through the Kraft Versicherungs-AG joint venture.

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15. 1905Expansion into fire insurance and household protection

    Allianz begins offering fire insurance and acquires Fides Insurance Company, which had developed an early form of burglary insurance.

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16. 1893First international branch opens in London

    Allianz opens its first overseas branch to provide marine insurance for German customers operating abroad.

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17. 1890Allianz is founded

    Carl von Thieme and Wilhelm von Finck establish Allianz Versicherungs-Aktiengesellschaft, entered in Berlin’s trade register on February 5, 1890.

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A diversified, internationally integrated insurance and asset-management group positioned around financial protection, risk management, retirement and wealth solutions, business resilience, assistance services and long-term investment expertise.

• Allianz personal insuranceProperty and casualty insurance1890

  Allianz’s retail insurance businesses provide protection for households, vehicles, personal liability and everyday risks. Offerings vary by country but commonly include motor, home, renters, legal-expenses, accident and liability insurance. Distribution combines tied agents, brokers, banks, direct channels and digital platforms. The retail proposition is increasingly framed around prevention, simple claims handling and digitally enabled customer service rather than only post-loss compensation.

• Allianz Life and HealthLife and health insurance1922

  Allianz’s life and health businesses cover protection, savings, retirement, annuities, supplementary health and employer-related benefits. These products address both individual and corporate customers and are offered through local operating companies with country-specific regulatory and tax structures. Life and health insurance are strategically important because they generate long-duration liabilities and connect Allianz’s insurance balance sheet with retirement, wealth and investment-management capabilities.

• Allianz CommercialCommercial and specialty insurance

  Allianz Commercial serves multinational companies, mid-sized enterprises and specialized commercial risks. Its scope includes property, casualty, liability, marine, aviation, engineering, energy, cyber, specialty and global-program insurance. The business combines local underwriting with international network coordination and risk-engineering expertise, allowing Allianz to support complex corporate exposures across multiple jurisdictions.

• Allianz PartnersAssistance and embedded insurance

  Allianz Partners provides assistance, travel insurance, mobility services, health assistance and embedded insurance solutions. Its services can include roadside assistance, medical assistance, trip cancellation, emergency coordination and protection distributed through airlines, banks, automotive companies, travel businesses and other partners. The business extends Allianz beyond conventional underwriting by combining insurance with immediate service delivery and support.

• PIMCOInvestment management1971

  PIMCO is Allianz’s global investment-management business and is particularly associated with fixed income, credit, multi-asset, equities, alternatives and institutional portfolio management. It serves pension funds, insurers, sovereign and corporate institutions, financial intermediaries and individual investors. PIMCO operates as a distinct investment brand within Allianz’s asset-management segment and is a major contributor to third-party assets under management.

• Allianz Global InvestorsInvestment management2001

  Allianz Global Investors manages assets for institutional and retail clients across equities, fixed income, multi-asset, private markets and other strategies. It was formed in the early 2000s through the combination of Allianz and Dresdner Bank asset-management activities. Its United States Structured Alpha business became the subject of major enforcement action in 2022; the affected business was subsequently wound down or transferred as part of the resolution.

• Allianz TradeTrade credit insurance

  Allianz Trade provides trade credit insurance, receivables management, surety and related business-information services. Its customers use these products to protect domestic and international sales against non-payment, insolvency and commercial or political risks. The business supports working-capital management and helps companies extend credit to customers while limiting exposure to default.

• 2025Unity Awards

  Global

  The Unity Awards recognized individuals and organizations using sport to build inclusion, cooperation and social connection. The initiative extended Allianz’s sports platform beyond sponsorship toward community storytelling and recognition.

  Outcome. Selected stories were incorporated into Allianz communications and connected the campaign with the Olympic, Paralympic and football partnership ecosystem.

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• 2024Get Ready

  Global · Europe · Asia-Pacific · North America · Latin America · Africa

  The Get Ready campaign used Allianz’s Paris 2024 Olympic and Paralympic partnership to promote preparation, confidence and readiness. The activation ran across more than 60 markets and combined broadcast sponsorships, outdoor advertising, social content, employees and local customer engagement.

  Outcome. Allianz reported more than one billion social-media impressions, making the Paris 2024 activation one of its largest global brand programs.

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• 2024Power of Unity

  Global

  Allianz launched Power of Unity to encourage more constructive engagement amid social and political polarization. The initiative uses sport and community-oriented storytelling to emphasize cooperation, inclusion and shared goals.

  Outcome. The program became part of Allianz’s broader purpose and sports-partnership communications.

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• 2021Olympic and Paralympic Worldwide Insurance Partnership

  Global

  Allianz became the official worldwide insurer of the Olympic and Paralympic Movements, building on a relationship with the Paralympic Movement that began in 2006. The partnership combines commercial visibility with insurance, assistance, athlete support and event-risk services.

  Outcome. The partnership was extended through 2032 and became one of Allianz’s most important global brand platforms.

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• 2005Allianz Arena partnership

  Germany · Europe · Global

  Allianz attached its brand to Munich’s Allianz Arena, linking the company with FC Bayern Munich, major international football and a high-profile architectural landmark. The partnership helped turn stadium naming rights into a central part of Allianz’s global brand strategy.

  Outcome. The arena became one of the best-known examples of insurance-sector naming rights and a foundation for Allianz’s wider family of stadium partnerships.

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• 2026Acquire HSBC Life SingaporeM&A

  Allianz identified Singapore and Asia-Pacific as strategic growth markets for life, health, retirement and wealth solutions, while HSBC sought to combine the sale of its Singapore insurance business with a long-term distribution relationship.

  What changed. Allianz agreed through Allianz Asia Holding Pte Ltd to acquire HSBC Life Singapore, subject to regulatory approval, and to enter a 15-year exclusive distribution partnership with HSBC Singapore.

  Aftermath. The transaction is expected to close in the first half of 2027 and would expand Allianz’s Singapore insurance platform and bancassurance reach.

  Combined consideration for acquisition and distribution agreement. €2.0 billion, including S$2.7 billion for 100 percent of HSBC Life Singapore (Announced July 24, 2026)

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• 2024Withdraw proposed acquisition of Income InsuranceM&A

  Allianz proposed acquiring at least 51 percent of Singapore’s Income Insurance, but the transaction encountered government opposition and public concern about the effect on affordability and the company’s social mission.

  What changed. Allianz withdrew its pre-conditional voluntary cash offer after the Singapore Government expressed concerns and changes were made to the Insurance Act.

  Aftermath. Allianz stated that it would remain committed to Singapore and continue developing its existing Asia-Pacific operations.

  Proposed transaction value. Approximately S$2.2 billion (Offer announced July 2024; withdrawn December 16, 2024)

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• 2022Resolve Structured Alpha enforcement actionsOther

  Regulators found that Allianz Global Investors’ US business and former portfolio managers had misled investors regarding risks and performance in Structured Alpha funds.

  What changed. Allianz and related entities entered a global resolution involving SEC penalties, restitution to harmed investors and the closure or transfer of the affected US asset-management business.

  Aftermath. The case led to a major restructuring of Allianz’s US asset-management activities and became one of the group’s most significant governance and reputational events.

  SEC penalties and global restitution. More than US$1 billion to resolve SEC charges and more than US$5 billion in restitution as part of the integrated resolution (May 17, 2022)

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• 2008Sell Dresdner Bank to CommerzbankM&A

  The global financial crisis increased the complexity and risk of Allianz’s banking strategy and created pressure to refocus on insurance and asset management.

  What changed. Allianz agreed to sell its controlling stake in Dresdner Bank and later accelerated the transfer of the remaining ownership to Commerzbank.

  Aftermath. The sale completed in January 2009 and returned Allianz to a more focused insurance and asset-management model.

  Final reported sale price. Approximately €5.5 billion (November 2008 to January 2009)

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• 2001Acquire Dresdner BankM&A

  Allianz pursued an integrated financial-services model combining insurance, banking and investment management.

  What changed. Allianz agreed to acquire the approximately 80 percent of Dresdner Bank that it did not already own and combined the two groups’ asset-management activities.

  Aftermath. The banking combination proved difficult during the financial crisis and was reversed through the sale of Dresdner Bank to Commerzbank in 2008 and 2009.

  Announced acquisition consideration. Approximately US$20 billion (2001)

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• 1999Acquire PIMCOM&A

  Allianz sought to strengthen its asset-management business and build a larger platform for institutional and retail investment products.

  What changed. Allianz acquired PIMCO and integrated it into the group’s asset-management portfolio while retaining PIMCO as a distinct investment brand.

  Aftermath. PIMCO became one of Allianz’s most important global asset-management businesses and a major source of third-party assets.

  Acquisition consideration. Approximately US$3.3 billion (1999)

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• 2025Australian travel-insurance misrepresentation caseControversy

  The Supreme Court of New South Wales convicted Allianz Australia Insurance Limited and AWP Australia Pty Ltd for publishing travel-insurance information that failed to adequately disclose sub-limits, exclusions and conditions. The court imposed total criminal fines of A$16.8 million and ordered payment of investigation costs.

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• 2022Structured Alpha securities-fraud caseControversy

  The United States Securities and Exchange Commission found that Allianz Global Investors’ US business and former portfolio managers misled institutional investors about the downside risks and performance of Structured Alpha funds. The funds suffered catastrophic losses during the March 2020 COVID-19 market turmoil. Allianz and its subsidiaries agreed to a global resolution involving penalties, restitution and the closure or transfer of the affected business.

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• 1933Allianz involvement with Nazi Germany and AryanizationControversy

  During the Nazi period, senior Allianz executive Kurt Schmitt served as economics minister, while Allianz supported Nazi institutions, participated in the forced transfer of Jewish-owned insurance businesses and insured SS-related industrial and concentration-camp activities. The company benefited from the regime’s persecution and expansion. Allianz’s later historical work has addressed this period through archival research and public acknowledgment.

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• 2006Allianz announces major restructuring and job reductions

  Allianz announced a restructuring program involving reductions across its insurance operations and Dresdner Bank in an effort to improve profitability.

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• 2001Allianz agrees to acquire Dresdner Bank

  Allianz agreed to acquire the portion of Dresdner Bank it did not already own, creating a large combined insurance, banking and asset-management group.

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1. Allianz: History of Allianz
2. Allianz: Who we are
3. Allianz: At a glance
4. Allianz: Board of Management
5. Allianz: Board members and biographies
6. Allianz Group Annual Report 2025
7. Allianz: Olympic and Paralympic partnership extension through 2032
8. Allianz: Paris 2024 brand and Get Ready campaign
9. SEC: Allianz Global Investors Structured Alpha enforcement action
10. ASIC: Allianz Australia and AWP Australia conviction and fines
11. Allianz: Withdrawal of Income Insurance offer
12. Allianz: HSBC Life Singapore acquisition announcement
13. Wikipedia: Allianz
14. Allianz Arena partnership
15. Power of Unity