All data are collected in the Fiscal Year of 2008-2009.

Egypt / Finance, Insurance, Investment

The Allianz Group is one of the leading integrated financial services providers worldwide. With nearly 155,000 employees worldwide, the Allianz Group serves approximately 75 million customers in about 70 countries. On the insurance side, Allianz is the market leader in the German market and has a strong international presence.

Allianz is also one of the world's largest asset managers, with third-party assets of 703 billion euros under management at year end 2008. In 2006 Allianz SE, the parent company became the first company in the Dow Jones EURO STOXX 50 Index to adopt the legal form of a Societas Europaea, which is a new European legal form for stock corporations. Allianz SE is headquartered in Munich, Germany.

Allianz Egypt is the new name for Arab International Insurance. The latter was established in 1976 as the first private, joint venture insurance company. In 2000, Allianz increased its ownership of Arab International Insurance from a minority stake to an 80% majority. In doing so, it assumed management responsibility and acquired major shareholding. In 2001, Arab International as a subsidiary of Allianz Group extended its activities from the Freezone to the entire Egyptian territory, launching its commercial and personal lines of products. In 2004, Arab International becomes Allianz Egypt. In 2006, Allianz Egypt was declared the #1 insurance company for life sales in the country

Allianz Egypt, Saridar Building, 92 El Tahrir Street, Dokki, Giza:
Fon. +202 760 5445; Fax. +202 760 5355

Allianz Egypt provides personal life insurance and corporate insurance. The company is also a leader in banking alliances known as bancassurance, through its key partnerships with ten of Egypt’s top banks. It also provide balanced portfolio which seek long-term growth of the capital invested in a balanced and diversified portfolio of assets mainly denominated in the currency of the fund itself; secured portfolio which invest in fixed income instruments with the aim to generate above average returns through active selection of a range of instruments including; securities, deposits, government and corporate bonds; and Islamic Fund which invests only in Shariah compliant investments.

1,200 employees

In fiscal 2008 the Allianz Group achieved total revenues of over 92.5 billion euros.

¹ Total revenues comprise Property-Casualty segment’s gross premiums written, Life/Health segment’s statutory premiums (including unit-linked and other investment-oriented products), Banking segment’s operating revenues and Asset Management segment’s operating revenues.
² Figures for the year ended December 31, 2005 do not reflect changes in the presentation related to the discontinued operations of Dresdner Bank.
³ The Allianz Group uses operating profit to evaluate the performance of its business segments and the Group as a whole.
⁴ Dividend proposal
⁵ Based on average shareholders' equity. Average shareholders' equity has been calculated based upon the average of the current and the preceding year's shareholders' equity.
⁶ Based on net income from continuing operations.
⁷ Includes as of December 31, 2008, 27,597 employees of Dresdner Bank Group

Life business in Egypt grew by 34 percent to reach 60 million euros in 2008.

At present, the Egyptian market consists of 12 insurance companies operating on the employee benefit side, of which three are public sector companies with a total market share of 35% and three are private companies with a total market share of 14%. The other 51% is shared by six multinational insurance organizations, namely ALICO, Legal & General, ALLIANZ, ACE, NSGB and BUPA, of which Alico (GMD) Egypt enjoys a 24% total market share.

Allianz Life Egypt has experienced strong growth for some time and is ranked fourth in the period 2007/2008, based on statutory premiums.

"Our goal is to be the most trusted financial services company throughout the world“

Allianz stated the following on its business model:

"We will continue to strengthen our profitability by resolutely pursuing operational excellence in every element of our value chain. In addition to the continuous improvement of our operating processes, our focus is now primarily on distribution and on our new market management functions. We will continue to improve our capital management and significant economies of scale in investments by further strengthening our Allianz Investment Management unit (AIM) and our group reinsurance program.

We will continue to reduce complexity in 2009 by introducing our "target operating model" (TOM) as a uniform organization platform globally, completing current implementations, and extending the model to additional businesses. The TOM places the strongest possible focus on our leadership structure and allows us to exploit synergies more quickly and consistently.

Key drivers are:

The 3+One program, which sets out our most important management objectives, was initiated in 2003 and remains in effect; our sustainability program, in place since 2004, has the goal of continuous improvement in our insurance core skills: risk pricing, claims management, and investment management; and the transformation of our operating business model launched in 2006 with the objective to place the customer, and the best possible fulfilment of his financial services needs and wishes, at the centre of the whole organization. It also facilitates integrating all technical improvements into one common set of business processes.

The “3+One” program places emphasis on: sustainable improvement of our operating profitability; strengthening our capital base, making us more resilient to crises; reducing the complexity of structures and procedures; and + One Strengthening our long-term competitiveness.

We regard our Customer Focus Initiative (CFI) as the key factor for profitable growth. Since 2006 CFI has been a major success and we shall continue to promote it strongly. “

Operating Subsidiaries:
Allianz Egypt Insurance Company S.A.E., Cairo (Equity: 2 mn; Owned 85.0%)
Allianz Egypt Life Company S.A.E., Cairo (Equity: 1 mn; Owned 100.0%)

"Egypt Insurance Supervisory Authority" (EISA) is a governmental organization under the Ministry Of Planning. Any insurance company or insurance intermediary that wishes to conduct any insurance business transactions should be registered at EISA and as such follows the rules and regulations stipulated by EISA.

EISA supervises, controls and audits all activities of Insurance companies and insurance intermediaries working in Egypt including, but not limited to, registration of companies, approving new products, checking prices, rates, revising the periodical and annual reports, investigating policy holders, and complaints, etc.

One of the main objectives of EISA is protecting the interests of the policyholders. It also approves and monitors rates and prices offered by insurance companies to ensure fair competition in the market. Allianz Egypt is authorized by EISA, and abides by all its regulations and laws.

International financial markets journal "Euromoney" in 2009 named Allianz "Best Insurer" in more than 20 different corporate insurance categories. The company was named first choice in 24 different categories and countries, ranging from "Best Insurer" in several countries and regions, to "Best Insurer for Claims Resolution", "Best Product Range", "Best for Price", "Best Insurer for Innovation" and "Best Consultant for Insurance Risk Transfer".

In 2008 Allianz Egypt inaugurated the first Allianz insurance training academy. Allianz established the new academy to enhance the quality and quantity of its employees and sales reps within the company's branches across Egypt.