The FINANCIAL -- Allianz on November 8 announced the official opening of 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 license granted by the China Insurance Regulatory Commission (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, according to Allianz.
At the opening of the Beijing branch, 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 center, 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 integration plan and the One Belt One Road initiative.”
China is the world’s second-largest insurance market, and in 2016, accounted for close to half of global insurance growth1. With its best-in-class products and services, Allianz is well positioned to provide one-stop risk management and insurance solutions for its growing customer base in China.
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.