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Allianz aims to grow sales in emerging markets: paper

Allianz aims to grow sales in emerging markets: paper
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First Published: Sun, May 08 2011. 04 01 PM IST
Updated: Sun, May 08 2011. 04 01 PM IST
Frankfurt: Allianz, Europe’s biggest insurer, aims to increase its revenues in emerging markets and double their contribution to the group from the current 12%, a senior executive told a German daily.
“This volume is achievable in the long term,” Manuel Bauer, board member for emerging economies said in a prerelease of his interview to be published on Monday by Handelsblatt.
In India, Allianz hopes to increase its stake in a joint venture with Bajaj to 49% from current 26%, he said.
Bauer said he expected revenues in China to grow even further, particularly in the automotive and real estate insurance sectors.
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First Published: Sun, May 08 2011. 04 01 PM IST