These days, commercials for a change in car insurance are booming. Allianz is also there. The insurance giant is currently promoting Allianz Direct with sprint star Usain Bolt. “The aim is to underline the international character of the new brand and to reach a broad public.” The cooperation is in line with the role of the parent company Allianz, which will become a global insurance partner of the Olympic and Paralympic movements from 2021, “it says the alliance. The online insurance subsidiary Allianz Direct is a cross-border direct insurer that should be simple, digital and scalable and, according to CEO Oliver Bäte, promises increasing profits. “Simplicity” has been the focus of Bäte’s strategy for two years. The aim is to distribute the broadest possible product range with marginal regional adjustment costs in several countries and to simplify and digitalize processes in all areas.
The start of Allianz Direct in the first half of the year was still quite bumpy, not least due to the corona pandemic. Nevertheless, the group turnover of 73.5 billion euros was kept at the level of the same period of the previous year. However, the operating result collapsed by 20 percent. Next week, the Munich insurance giant will provide an insight into the figures for the third quarter. Due to the corona, the group recently made no forecasts for 2020. Perhaps the end of next week could change.
Chart technical outlook:
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The contribution Allianz – insurers in the run-up to the Q3 figures easier! appeared first onemarkets Blog (HypoVereinsbank – UniCredit Bank AG).
Author: Richard Pfadenhauer
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