Allianz has designated the Middle East as its third major growth
region, a strategic decision the European insurer has marked with
the establishment of a regional office in Bahrain that will have
responsibility for its businesses in Bahrain, Egypt, India, Jordan,
Lebanon, Pakistan, Saudi Arabia and Sri Lanka. The Middle East
joins the Asia-Pacific and emerging European markets as areas that
Allianz has identified as being major growth regions.
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“With Middle East as our third major growth region, we will elevate
our presence there to a new level and set the course for internal
and external growth,” said Werner Zedelius, member of the board of
management of Allianz SE. He is now responsible for the Middle East
region, in addition to Asia-Pacific and what Allianz terms “new
Europe”.
He continued that in the Middle East region, Allianz sees growth
potential in all business lines. “We are determined to grow in the
life and health insurance business, where we want to expand
throughout the region. In property and casualty, rising wealth and
huge development projects in the region offer great opportunities.
In addition, we will further develop our takaful business, where we
already can build on our experience and expertise in Bahrain, Saudi
Arabia and Indonesia,” said Zedelius.
Sam Ghosh, country manager of Allianz in India, has been appointed
as CEO of the new Middle East regional business unit. “We are very
happy that Sam Ghosh will lead the regional business unit as CEO,
after six extremely successful years of working in India,”
commented Zedelius.
