Allianz UK business confirms 2012 rebranding deadline
Mondial Assistance in the UK is to become Allianz Global Assistance by the end of 2012, it announced today.
The move came as Mondial Assistance in the EMEA zone (Europe, Middle East, Africa), revealed it accounted for 64% of total group turnover in 2010, compared to 67% in 2009.
However, it posted a 7.1% increase over the previous year (+6% at a constant exchange rate). Notably France - with Euros 404m in turnover in 2010 - grew by 5.7%.
Lifecare services, which became the group's third pillar of revenue in 2009 and embrace healthcare, property assistance and personal services accounted for 16% of total group turnover in 2010.
Mondial Assistance UK confirmed it would launch a new healthcare division in 2011 in line with group's aspirations.
As a group worldwide, Allianz Global Assistance reported a consolidated turnover of Euros 1.892bn up 13.1% compared to 2009 (Euros 1.673bn).
It also recorded a 16.9% increase in net profit, or Euros 67.2m, and a combined ratio of 95.8%.
Mike Webb, CEO of Mondial Assistance in the UK, comments: "Providing help, anytime, anywhere has long been the Group's objective and globally we continue to work together as one body to achieve this.
"Here in the UK our dynamic lifecare services have provided us with an opportunity to benefit new markets, whilst our strong and focused team remains loyal to strengthening our core offerings in the automotive and travel arena.
"Our move from Mondial Assistance to Allianz Global Assistance over the next 12 months, which sees us reinforce our position as the world leader in assistance, will be carefully orchestrated to ensure a seamless but confident transition for our clients."
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