Allianz Worldwide Partners: double-digit growth in 2015, with a target of 10 billion in 2020.
- Turnover in 2015: 7.272 billion euros (+14% over 2014 and +11% in constant currencies)
- Operating income: 266 million euros (+21% over 2014 and +15% in constant currencies)
- Combined ratio: 97.9% (99% in 2014)
- 16,000 employees around the world
- Presence in 75 countries
- 40 million cases processed
- Objective 2020: 10 billion euros turnover and 500 million euros operating income
Allianz Worldwide Partners announces its financial results for 2015 and restates its ambitions to be achieved by 2020. The global turnover showed an increase of 14% over 2014 and 11% in constant currencies. All geographical zones and business sectors in the group have made a proportionate contribution to growth in 2015. Allianz Worldwide Partners is also showing a net improvement in its combined ratio to 97.9% and an operating income of 266 million euros, up 21% (+15% at constant currencies).
“2015 was another year of growth for Allianz Worldwide Partners with very satisfactory results, especially given the difficult economic environment worldwide. I want to thank all our teams, whose efforts have once more demonstrated our ability to serve all our clients, global or local, throughout the world”, asserts Rémi Grenier, CEO of Allianz Worldwide Partners.
Allianz Worldwide Partners: a unique combination of services, insurance and technology.
Allianz Worldwide Partners is the new integrated package, offered in response to a world undergoing major changes. In an ever more connected and globalised economy, changes in consumer behaviour and vastly greater demands from partners, Allianz Worldwide Partners offers a solution designed to suit every market.
Every client is offered an original combination of service, insurance and technology, in the areas of recovery, global travel and health insurance, and car insurance.
“Allianz Worldwide Partners is one of the drivers of the growth of the Allianz Group in B2B2C. We now offer a unique, global product, already adopted by major groups to protect their customers and employers throughout the world” explains Rémi Grenier.
Solis growth in all sectors
In 2015, every sector of the group reported growth: +19 % for recovery and travel insurance, +8% for vehicles +18 % for international healthcare.
Allianz Worldwide Partners grew its recovery and travel insurance by 19% compared to 2014 (14% at constant currency), reaching 3.176 billion euros. Its impact was particularly felt in the 67% growth in the “home and daily life” operation, and a rise of 42% in travel insurance in the United States. Operating income was 116 million euros, an increase of 14% compared to 2014.
The vehicle sector grew by 8% in 2015 (6% at constant currencies) with a turnover of 2.818 billion euros. Operating income showed the same progress, with 102 million euros and a rise of +17% on 2014. The growth in this business line relies mainly on major developments in Asia-Pacific (Australia, India and China) and in Europe (Germany, Netherlands and Switzerland). Two product lines helped particularly with business growth, extended warranties (+14%) and car insurance (+6%).
International healthcare recorded a turnover of 1.306 billion euros, a rise of 18% compared to 2014 (10% at constant currencies). The same applied to operating income which reached 65 million euros (+22% compared to 2014). This growth was supported especially by new and renewed partnership agreements and the launch of new products (corporate support, personal healthcare and international health insurance packages).
Presence on all continents
The group continues to spread around the world. While Europe, the Middle East and North Africa still represented 62% of total turnover, the Asia-Pacific zone formed 25% and the Americas 13% of business in 2015.
Germany and Australia are competing for the top slot and each represents 16% of the group’s business, followed by France (11%) and the USA (8%).
In France, Allianz Worldwide Partners provides 11% of the total turnover for the group, with 784 million euros in 2015, and operating income of 36 million euros. The recovery and travel insurance sectors total 576.5 million euros, allowing Mondial Assistance to maintain its lead on the French market. For Mondial Assistance, this year marked the conclusion of the 2012/2015 strategic cycle and the unfolding of the new 2015/2018 roadmap, focussing on the customer and digital interaction.
A new strategy for big ambitions
In January 2016, Allianz Worldwide Partners reorganised around 5 main business lines, 5 regions and 5 global functions to meet new demands of a constantly-changing world:
- 5 business lines
- Travel insurance
- International healthcare
- Digital solutions and partnerships
- 5 regions:
- Asia Pacific
- Europe 1 (Northern Europe, Middle East and North Africa)
- Europe 2 (Germany, Austria, Switzerland)
- Europe 3 (Southern Europe, France)
- 5 global functions: Finance, Operations, HR/Communications, Audit, Strategy
This new organisation is headed by Rémi Gremier, Chairman & CEO, with a new, recently announced board.
Allianz Worldwide Partners is continuing its strategy to hold its leadership position and become the benchmark for customer-focused B2B2C. The group is now relying on 5 major strategic initiatives to accelerate growth and on which to base its development: recovery, reliant on an ever more connected world (the connected home and mobile in daily life), international healthcare, using the “Health in a box” solution, travel based on connected travellers, digital on the “Allianz for life” solutions and the vehicle on the connected car.
“Allianz Worldwide Partners is aiming to achieve a turnover of 10 billion euros with an operating income of 500 million euros by 2020, while maintaining a high customer satisfaction level (NPS of 70%) and the commitment of our employees around the world”, finishes Rémi Grenier.