Allianz Worldwide Care Reports Strong 2012 Performance
DUBLIN--(BUSINESS WIRE)-- Allianz Worldwide Care has reported exceptional levels of growth during 2012 with a 27% increase in gross written premium (GWP) and a 31% increase in the number of insured lives. In line with this increase in the number of clients, staff numbers have also grown by 28% in the last 12 months, with the company now employing over 700 people. The company, which is headquartered at Park West Business Campus, Dublin, is a wholly owned subsidiary of Allianz SE.
Ron Buchan, Chief Executive said "Our 2012 financial results have been our best to-date. We set ourselves ambitious targets each year in terms of client service and financial performance and while our challenges are similar to many companies operating in Ireland, because our market is global, we also have to contend with fluctuating exchange rates, volatile political situations and changes in regional regulatory requirements, making these exceptional results even more welcome. Our financial performance in 2012, as in previous years, continues to be driven by a focus on client service, cost containment and investment in people."
Mr Buchan confirmed that the increase in gross written premiums came from the successful acquisition of new corporate clients as well as significant additional business from existing clients. Allianz Worldwide Care is the provider of choice for many of the leading Fortune Global 500 corporations.
The company's consistently strong financial performance has been reflected in Standard & Poor's recent upgrade of Allianz Worldwide Care from 'A Stable' to 'A+ Stable', an important marker for financial stability and longevity for both brokers and clients when assessing an insurer.
2012 was also a significant one for the company in terms of expanding its global footprint; with a new office opened in Brussels in partnership with Allianz Worldwide Care Services and in China in partnership with Allianz China General Insurance Company. Allianz Worldwide Care is poised for further expansion as it leverages a range of opportunities in other regional markets, the details of which will be announced over the coming months.
About Allianz Worldwide Care
Allianz Worldwide Care specialises in providing international health insurance for employees, individuals and their dependants, wherever they are in the world. As an A+ rated (Standard & Poor's), wholly owned subsidiary of AA rated Allianz SE, the company is able to draw on the resources and expertise of one of the world's leading insurers and financial services providers.
From a range of in-patient, out-patient and dental benefits, clients can create a comprehensive international healthcare plan that suits their needs, including both long term and short term assignments.
Allianz Worldwide Care was the first international health insurance provider to offer a 48-hour turnaround on submitted medical claims, under its "Clear to Zero" claims handling initiative. With a client base that includes many of the Fortune Global 500 companies, Allianz Worldwide Care continues to build a reputation for service excellence in international healthcare.
KEYWORDS: Europe Ireland
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