Allianz SE (/ˈæliənts-/ al-i-ənts; German pronunciation: [aliˈants] ( listen)) is a European banking casework aggregation headquartered in Munich, Germany. Its amount businesses are allowance and asset management. As of 2014, it is the world's better allowance company, the better banking casework accumulation and the better aggregation according to a blended admeasurement by Forbes magazine,[3] as able-bodied as the better banking casework aggregation if abstinent by 2013 revenue. The aggregation is a basic of the Euro Stoxx 50 banal bazaar index.
Its Allianz All-around Investors analysis ranks as a top-five all-around alive investment manager, accepting €1,933 billion of assets beneath administration (AuM), of which €1,408 billion are third-party assets (as of 2015-03-31), with specialized asset managers including PIMCO (bonds), RCM (equities) and Degi (real estate).
Allianz awash Dresdner Bank to Commerzbank in November 2008. As a aftereffect of this merger, Allianz acquired a 14% authoritative pale in the new Commerzbank.
History
Allianz AG was founded in Berlin on 5 February 1890 by again administrator of the Munich Reinsurance Aggregation Carl von Thieme (a built-in of Erfurt, whose ancestor was the administrator of Thuringia) and Wilhelm von Finck (co-owner of the Merck Finck & Co bank). The collective aggregation was listed in Berlin's barter register[6] beneath the name Allianz Versicherungs-Aktiengesellschaft. The aboriginal Allianz articles were abyssal and blow behavior aboriginal awash alone in Germany, about in 1893 Allianz opened its aboriginal all-embracing annex appointment in London. It broadcast abyssal allowance advantage to German audience searching for advantage abroad.
In 1900 the aggregation became the aboriginal insurer to access a authorization to deliver accumulated policies. In 1904 Paul Von Naher took over the sole administration of the company, as it confused into the US and added markets. Markets entered by 1914 included the Netherlands, Italy, Belgium, France, the Scandinavian countries and the Baltic States, and Allianz had become the better amphibian insurer in Germany. The aggregation suffered an aboriginal adversity in expansion, if the 1906 San Francisco convulsion acquired the aggregation to sustain 300,000 marks in losses. In 1905 the aggregation acquired Fides Allowance Company, a close that had innovated the aboriginal anatomy of home aggression insurance. Added places it would aggrandize into during the 1910s and 1920s included Palestine, Cyprus, Iraq, China, the Dutch Indies, Ceylon, and Siam.
In 1905 the aggregation began to action blaze insurance, and in 1911 it began to advertise accouterment breakdown policies. Allianz remained the alone aggregation in the apple that awash apparatus breakdown allowance until 1924. Again in 1918 it began to action auto allowance as well. In 1921 Von Naher died and was succeeded by Kurt Schmitt. The aggregation would activate to action activity allowance as of 1922, acceptable Europe's better offerer of the behavior by the end of the 1920s.
In 1927 Allianz alloyed with Stuttgarter Verein Versicherung AG and two years after acquired the allowance businesses of Favag, a ample German insurer that declared defalcation due to the access of the Great Depression. Amplification of the aggregation again slowed until 1938 at which point it active added than 24,000 people. Christian Stadler wrote of the history of Allianz that it "shows how important it is to alter into accompanying areas to barrier adjoin the accident of axiological changes in markets and economies".
During Apple War II the Berlin address of Allianz were destroyed by Allied bombing runs. Following the end of the war in 1945, Hans Heb became arch of the company, and Allianz confused its address to Munich in 1949 due to the breach amid East and West Germany. Heb alone captivated the position until 1948, if he was replaced by Hans Goudefroy. After Apple War II, all-around business activities were gradually resumed. Allianz opened an appointment in Paris in 1959, and started repurchasing stakes in above subsidiaries in Italy and Austria. In 1971 Wolfgang Schieren became the arch of the company.
These expansions were followed in the 1970s by the enactment of business in the United Kingdom, the Netherlands, Spain, Brazil and the United States. In 1986, Allianz acquired Cornhill Allowance PLC, London, and the acquirement of a pale in Riunione Adriatica di Sicurità (RAS), Milan, adequate its attendance in Western and Southern Europe in the 1980s.
In 1990, Allianz started an amplification into eight Eastern European countries with establishing a attendance in Hungary. In the aforementioned decade, Allianz aswell acquired Fireman's Fund, an insurer in the United States, which was followed by the acquirement of Assurances Générales de France (AGF), Paris. These acquisitions were followed by the amplification into Asia with several collective ventures and acquisitions in China and South Korea and the accretion of Australia's Manufacturers Mutual Insurance. Around this time Allianz broadcast its asset administration business as able-bodied by purchasing for archetype asset administration companies in California.