Allianz Global Assistance Group, the parent company of Allianz Global Assistance USA, announced its 2012 financial results and discussed its ambitions for 2015 at a recent press conference in Paris.
The Group reported 9 percent growth in global revenue for 2012, compared with the same period a year ago. Net profit was 65 million euros or roughly $85 million.
In an earnings statement, the company, the world's 60th largest, said all geographic regions and its three lines of business – Automotive, Travel and Health/Home/Lifecare – made "well-balanced contributions to growth in 2012."
Despite challenges in the global economy, the Group reaffirmed its ambition to reach 3 billion euros or approximately $3.9 billion in revenue by 2015, with 50% of revenue coming from Europe, 30% from the Americas and 20% from Asia/Pacific.
In the U.S., the company covered 13 million customers with its travel insurance and event ticket protector products. The American business unit ranks second in revenue in the Group (behind that of its French operation) at 330 million euros, which is up 11.3% from 2011.
In 2012, Allianz Global Assistance USA successfully launched its Registration Protector product, which provides coverage for registration fees paid by participants when they register for an endurance event.
Interesting tidbit? In 2013, the company plans to roll out a new product which reimburses customers for inconveniences they experience due to "excessive rain" at their travel destination.
“In the U.S., we continue to develop innovative products and services in new and existing distribution channels that will lead to increased revenue and profit for the company,” said Mike Nelson, CEO of Allianz Global Assistance USA and director of the group’s America’s Zone. “Working closely with our colleagues across the Group, we are growing the business by focusing on the solutions that our clients in the U.S. and around the world value in order to increase both their revenue and their customer satisfaction.”
In addition to travel insurance ( www.allianztravelinsurance.com), Allianz Global Assistance USA offers event ticket protection, registration protection for endurance events and unique travel assistance services such as international medical assistance and concierge services.
The company also serves as an outsource provider for in-bound call center services and claims administration for health insurers, property and casualty insurers, and credit card companies.
For more information about Allianz Global Assistance USA, visit allianzassistance.com.