Allianz Global Risks Canada has completed its transition to become a branch of Allianz Global Risks US, after receiving the required provincial licenses. Federal licenses were already granted last October.
While the structure of the organization has changed, Volker Albrecht will continue to head the Canadian operation, the company said.
Allianz Global Risks Canada offers commercial coverage for property, engineering/builders risk, casualty and auto, as well as the aviation commercial insurance line, which it currently manages on behalf of Allianz Insurance Company of Canada and ING Canada.
We can now write and renew business backed by stronger ratings, said Volker Albrecht. We will continue to be a reliable partner to our Canadian customers and expect our new status to produce additional opportunities for knowledge exchange, shared services and resources that make it easier for our customers to do business with us.
Allianz Global Risks Canada will continue to handle all of its own underwriting, claims and risk consulting functions, and its current underwriting philosophy, capacity and business relationships remain the same as before the change.