Global insurer Allianz has officially opened its Beijing branch office, strengthening its presence across China and enhancing its ability to serve more customers in the world's fastest growing insurance market.
With a full branch licence granted by the CIRC, Allianz is able to provide its suite of commercial and consumer property and casualty (P&C) solutions to customers in Beijing, including travel, personal accident, health and motor insurance, as well as liability, marine, construction, energy, financial lines and trade credit, the company said in a statement.
At the opening of the Beijing branch, Mr George Sartorel, Allianz’s Regional CEO for Asia Pacific, said: “This is a milestone in Allianz’s continued growth in China. As China's political, economic and cultural centre, Beijing represents not only a great opportunity for us to serve the protection needs of more customers and enterprises in China, but also for Allianz to play a bigger role in some of the country’s key agendas, including the Jing-Jin-Ji (Beijing, Tianji and Hebei) integration plan and the One Belt One Road initiative.”
The Beijing branch will be Allianz China General Insurance’s (AZCN) third branch in the country after Guangdong and Shanghai and, together with its sale services office in Shenzhen, completes Allianz’s P&C coverage across China’s tier-one cities.
Allianz has been present in Asia since 1910, when it first provided fire and marine insurance in the coastal cities of China. Today, Allianz is active in 14 markets in the region, offering its core businesses of property and casualty insurance, life, protection and health solutions, as well as asset management.