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Sunday, 20 February 2005 |
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News Business Features |
Allianz Insurance begins operations Allianz Insurance Company Lanka Limited, a fully owned subsidiary of Allianz A.G. of Germany has started its operation in Sri Lanka. The Company received registration as an insurer from the Insurance Board of Sri Lanka on September 30, 2004, to practise General Insurance business in Sri Lanka. Allianz A.G. is the largest General Insurance Company in the world, with a global premium income of USD 102 billion and Global assets under management of USD 894 billion. The Company has been in the business of General (Property and Casualty) insurance, Life and Health insurance and Asset Management for over 114 years and ranks 11th among the Fortune 500 Companies. Allianz provides insurance to about half of the Fortune 500 companies and has insured some of the world's largest infrastructure projects, including the Hong Kong Airport and the Channel Tunnel between UK and France. Headquartered in Munich, Allianz A.G. has 700 subsidiaries and 180,000 employees servicing over 60 million clients in about 78 countries. Allianz's expertise in General Insurance includes all lines of General Insurance business including Fire, Engineering, Marine, Motor, Casualty and Miscellaneous covers.
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