Allianz Global Assistance Announces Growth for 2011
Results from worldwide subsidiaries reached or exceeded expectations for the year
RICHMOND, Va., May 9, 2012 — Allianz Global Assistance, the parent company of Henrico-based Allianz Global Assistance USA, announced its financial results for 2011 for its worldwide operations at a recent press conference in Paris. France, the United States and Australia led the company in revenue, followed closely by Brazil, while China continued to emerge as a strong market. However, all geographic regions – 28 countries in total -- and the company’s three lines of business, Automotive, Travel and Health & Home, contributed to growth in 2011.
Though the company’s activity remains centered in Europe, representing 61 percent of total revenue, the development of the Americas zone and high growth in Asia Pacific has established a new, global presence. The Americas counted for 23 percent of total activity in 2011, up 16.6 percent over the previous year.
For the first time, global revenue exceeded €2 billion (approximate revenue of $2.7 billion), representing an increase of 8.5 percent over 2010. Net profit for the financial year was €62.3 million (approximately $80.7 million).
“In the U.S., our company continues its strong growth pattern, driven in large part by sales through our online distribution partners and by utilization of marketing optimization technologies that we pioneered several years ago,” stated Beth Godlin, CEO of Allianz Global Assistance USA.
Allianz Global Assistance USA continued to be an influential business unit. Insuring over 13 million people in the United States alone, the Virginia company also employs nearly 1,000 associates, making it one of the largest private employers in the Richmond area. In 2011, Allianz Global Assistance USA received the Employer All-Star Award for Community Involvement from Virginia-based Society for Human Resource Management. The Community Involvement Award recognizes the company’s volunteerism and financial support of charitable organizations, educational organizations and community service groups.
Allianz Global Assistance USA
Allianz Global Assistance USA is a leading consumer specialty insurance and assistance company with operation centers in 28 countries. In the United States, Allianz Global Assistance USA (AGA Service Company) insures 13 million customers and is best known for its Allianz Travel Insurance plans.
In addition to travel insurance, Allianz Global Assistance USA offers event ticket protection and unique assistance services such as international medical assistance and concierge services. The company also serves as an outsource provider for in-bound call center services and claims administration for health insurers, property and casualty insurers, and credit card companies.
For more information about Allianz Global Assistance USA, please visit allianzassistance.com. To learn more about Allianz Travel Insurance plans, please visit allianztravelinsurance.com or Like us on Facebook at Facebook.com/AllianzTravelInsuranceUS.
Allianz Global Assistance
How can we help?
International leader in Assistance, Travel Insurance and health, life & home care services, today Allianz Global Assistance counts more than 10,783 employees who speak 40 different languages and work throughout the world with a network of 400,000 service providers and 180 correspondents. 250 million people, or 4 percent of the world’s total population, benefit from its services, which the Group provides on all five continents.
For more information about Allianz Global Assistance, please visit www.allianz-global-assistance.com
Allianz is the 20th largest company in the world (Forbes Global 2000, 2011) and 67th most valuable global brand (Interbrand, 2011). Allianz has 151,000 employees worldwide and 76 million customers in more than 70 countries. In 2010, Allianz had over 106.5 billion euros in revenue and over one trillion euros under management. In the US, Allianz brands include:
• Allianz Life
• Allianz Global Investors
• Fireman’s Fund
• Euler Hermes
• Allianz Global Assistance
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