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Canada: Allianz targets energy industry

April 4, 2014 - 6:00am

Allianz S.E. is focusing on energy and mining expansion in Canada to grow gross premiums to $500 million Canadian ($453.2 million) in four years, Bloomberg reported.

"Many of the oil and gas exploration companies are cash rich -- they are starting to expand and we're supporting them," Kevin Leong, head of Allianz in Canada, said. The insurer also hopes to start selling a new cyber insurance product for businesses in Canada next month.

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