Allianz has announced that it will add its name to the name of its local partner in Lebanon, Societe Nationale d'Assurances, which will come in line with both Allianz's major shareholding in Allianz SNA, as well as plans to expand in the Middle East.
According to Antoine Wakim, CEO of Allianz SNA, adopting the Allianz name underlines SNA’s drive to offer the better services and products to the Lebanese market. In the Middle East, Allianz will focus on life and retirement business and health insurance. In property and casualty insurance, rising wealth and large development projects in the region also offer opportunities. Allianz will further develop its Islamic insurance, or Takaful business, which has already been launched in countries such as Bahrain, Saudi Arabia and Indonesia.
Mr Wakim said: We are proud to have the Allianz name with SNA. I am certain that Allianz and their international experience will give a new dimension to our business. With this collaboration, we will be able to better serve our clients who deserve first class service and products.