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Allianz launches ‘Engineering, Construction & Power’

Press release   •   Oct 11, 2018 10:12 BST

Chris Little, director of engineering, construction & power

Having reinvented the Allianz Engineering business through the completion of the modernisation of our market leading Engineering Inspection business, the creation of expert-led underwriting teams and the launch of Construction Select, Allianz is today announcing a new brand name to its customers and insurance broker partners - Allianz Engineering, Construction & Power.

Allianz’s director of engineering, construction & power Chris Little, said:

“I am delighted to announce the re-brand of our engineering business. The re-brand positions Allianz Engineering, Construction & Power as a multi-niche insurance and inspection provider.

He added: “The launch cements Allianz’s investment in creating dedicated multi-niche teams focused on the engineering, construction and power sectors and the creation of expert-led solutions at every interaction with the customer.”

Allianz Engineering Construction & Power provides:

  • Multi- class covers - A wide range of covers to protect a business’ assets, employees, legal liabilities and revenue
  • Dedicated underwriting teams - Direct access to expert underwriting teams across Engineering, Construction and Power, with extensive knowledge and experience across all sectors. This builds on Allianz’s new approach to underwriting construction business, having already introduced teams located in the sector’s key regions.

  • Award-winning claims service -Claims handlers that understand the loss, are fast to respond and work closely with a panel of specialist loss adjusters to settle the claim quickly
  • The largest Engineer surveyor network - 620 UKAS accredited engineers with the expertise to conduct inspections on plant and machinery anywhere in the UK

Allianz Engineering Construction & Power is underlining its focus on renewable power by offering a proposition which covers both the construction and operation of renewable technologies targeting the commercial operators of wind, solar and hydro power.

The renewables suite of products provides comprehensive Construction Risks and Operational Risks cover, with associated Public Liability and Business Interruption available alongside other optional covers. The proposition will be backed by dedicated underwriters and supported by the expertise of the Allianz Group which has a global presence and experience in renewable power.

Chris Little commented:

“With over 100 years’ of insurance experience and together with our market-leading engineering inspection and consultancy services, I am confident that this re-brand and our new renewables proposition will meet the needs of brokers and customers in these important and growing sectors”.


ENDS

The information contained in this press release relates to Allianz Insurance plc. Allianz Insurance plc is one of the largest general insurers in the UK and part of the Allianz Group.

The Allianz Group is one of the world's leading insurers and asset managers with more than 88 million retail and corporate customers. Allianz Group customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz Group is one of the world’s largest investors, managing over 650 billion euros on behalf of its insurance customers while our asset managers Allianz Global Investors and PIMCO manage an additional 1.4 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2017, over 140,000 employees in more than 70 countries achieved total revenue of 126 billion euros and an operating profit of 11 billion euros for the group.

These assessments are, as always, subject to the disclaimer provided below.

Cautionary note regarding forward-looking statements

The statements contained herein may include prospects, statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such forward-looking statements.

Such deviations may arise due to, without limitation, (i) changes of the general economic conditions and competitive situation, particularly in the Allianz Group's core business and core markets, (ii) performance of financial markets (particularly market volatility, liquidity and credit events), (iii) frequency and severity of insured loss events, including from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the euro/US-dollar exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions, including related integration issues, and reorganization measures, and (xi) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.

No duty to update

The company assumes no obligation to update any information or forward-looking statement contained herein, save for any information required to be disclosed by law.

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