The UK insurance business Allianz Cornhill has been renamed Allianz Insurance, representing the next step of the process of aligning the brand to that of the company's parent, Allianz.
The group claims the decision to rename the group will maximize the benefits associated with the Allianz Group’s global reputation.
Consumer-facing brands Cornhill Direct and Petplan will remain unchanged due to their recognition level and value among the UK general public.
Allianz Insurance chief executive Andrew Torrance said: I am sure this decision will be greeted as a natural extension of our brand strategy by our customers and business partners.
The Allianz brand enables us to leverage the values associated with one of the major international financial services providers and there is no doubt that, in the commercial market in particular, this is a real asset.
Allianz has further plans to invest approximately E1 billion over the next three years in a global advertising campaign, which will also increase overall brand awareness in the UK.