AIC Opens Houston Office

August 20, 2002

Allianz Insurance Company (AIC), a member of the international Allianz Group, has relocated its Energy Operations unit to Houston to be closer to oil, gas and petrochemical clients domiciled throughout North, Central and South America.

“Allianz has shown a stable, consistent and long-term appetite for property risk within the oil and gas energy sector,” said Kevin Callahan, CEO of AIC. “Houston places us in the center of activity for this industry segment. This move will improve our accessibility to clients and brokers located throughout the region, enabling us to build upon our eight years of dedicated industry experience.”

Allianz currently offers approximately $100 million of in-house capacity for this customer group, according to Callahan. “Our goal is to establish a leading position in this market segment and expand upon our product and service offerings such as coordinated global policy administration, and worldwide, third party, engineering inspection services provided via Allianz Risk Consultants. Many of our Energy clients are from the FORTUNE 1000 with extensive worldwide exposures.”

The Energy unit’s clients specialize in various aspects of the oil and gas industry, including, but not limited to, exploration and production, refining, petrochemicals and distribution/transportation.

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