Allianz Industrial Unit Targets MENA Region Through New Dubai Branch

Allianz S.E.'s industrial insurance unit launched a new operation in Dubai in an effort to pursue business in the Middle East and North Africa.

Beginning Jan. 1, Allianz Global Corporate & Specialty said it is represented through the new Dubai branch of its subsidiary, Allianz Risk Transfer A.G. The branch, with 17 employees, is led by Sanjeev Badyal. The branch is part of Allianz Global Corporate & Specialty's Asia-Pacific and Middle East North Africa region, which is led by Lutz Fullgraf.

The new branch will take over Allianz's facultative reinsurance operations in Dubai from Allianz SE Reinsurance Branch Dubai. The team associated with the latter will move to Allianz Risk Transfer's Dubai branch.

The Dubai branch is part of Allianz Global's network, which covers more than 150 countries. MENA clients and brokers will have access to all of Allianz Global's facultative reinsurance products, including property, engineering, marine and casualty, and specialist services such as energy, aviation and financial lines.

Allianz said it has been active in the MENA region for more than 30 years. The Dubai branch is "a continuation of AGCS's strategy of developing local teams in core client markets to focus on major corporate and specialist risks," the insurer said. Within the past six months, Allianz Global has announced new operations in Japan, Brazil, Mexico and Hong Kong.

Allianz Global Corporate & Specialty AG currently has a Best's Financial Strength Rating of A+ (Superior).

(By David Pilla, international editor, BestWeek: [email protected])