German insurance company Allianz is to unite its different sales activities into one independent sales company under Allianz's German holding company.

The new dedicated sales outfit, which will be headed by Hansjorg Cramer, will simplify and streamline Allianz sales activities thus delivering greater efficiency, the insurer said in a statement.

Explaining the strategic move Mr Cramer said: In the future, a significantly smaller number of people will be involved in decision-making, which will make a huge difference in terms of speed and flexibility. Consequently, we will be able to strengthen our already excellent position against the competition.

Mr Cramer added that the new structure would have little impact on staff as they would most likely continue to fulfill the same roles in the same offices. However, Mr Cramer also admitted that some positions would be eliminated, although the company would look to avoid redundancies by creating new roles.

Allianz hopes the new sales structure will be operational by the start of the new year.