Allianz Global Risks US Insurance Company · Burbank, CA United States
Company Description
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This link will open in a new window International enterprise is a risky business, and that's where Allianz Global Risks US steps in. The company is the US arm of Allianz Global Risks, which provides international corporate insurance to large industrial clients of Munich-based mega-insurer Allianz SE . Allianz Global Risks US provides complex property/casualty insurance for US-based companies with global operations. The company breaks its underwriters out across about a dozen industries, including construction, energy, retail, power generation, public entities, real estates, and both standard and special industrial hazards. It also provides risk management services. To read the full description, subscribe now.
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Key Allianz Global Risks US Insurance Company Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Employees | 425 |
Allianz Global Risks US Insurance Company Executives
14 executives listed for Allianz Global Risks US Insurance Company's Burbank, CA location.
| Title | Name & Bio | Contact |
| President and CEO | Wolfgang Schatz | Network |
| Head, Operations | Nick Hobbs | Network |
| CFO | Randy Renn | Network |
Competition
Competitive Landscape for Allianz Global Risks US Insurance Company
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top Allianz Global Risks US Insurance Company Competitors
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