Allianz/AGF Strengthen Position in Aviation Insurance Market

January 24, 2001

AGF, the French subsidiary of Germany’s Allianz, announced that its AGF MAT unit had purchased the remaining 51 percent of Westminster Aviation Insurance Group from France’s Groupama-Gan, giving it 100 percent of the specialist aviation insurance management company.

WAIG is a full service insurer providing underwriting, claims handling services and policy issuing; it “generated a $94 million premium income for 2000. ” The acquisition will further strengthen its already strong position in the aviation insurance market.

There are further expansion plans in the works. “AGF MAT Ltd is the holding company owned by Allianz and AGF under which the group intends to bring together its Marine, Aviation and Transport (MAT) insurance operations, (i.e. AGF MAT, France and Allianz Globus MAT, Germany), thus creating the world’s leading group in international Marine, Aviation and Transport insurance,” said the announcement.

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