Allianz has unveiled its new division, to globally provide employee benefit solutions which address the requirements of multinational corporations.

Known as Allianz Global Benefits, the division will provide services that include corporate life, pension and health products, as well as client-centric services to clients’ headquarters and subsidiaries.

Collaborating with Allianz Global Corporate & Specialty and Allianz Global Investors, the new unit will boost the existing cooperation in the area of worldwide employee benefits with global broker firms.

Allianz Global Benefits, by integrating global and local approaches, will enable clients to optimize employee benefit schemes across countries, providing a clear overview of their worldwide employee benefits, a more advanced, international risk management perspective and governance.

The insurer said this is achieved by connecting local subsidiaries of the client with the local subsidiaries of Allianz Group and by seamlessly coordinating the design and implementation of aligned employee benefit solutions.

Headquartered in Germany, Allianz Global Benefits has local centres in three continents and combines All Net, an already existing global and local network of Allianz subsidiaries and selected external insurance partners in over 80 nations.