Help

BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

International

Allianz to reduce number of German branches by 30%

June 11, 2015 Reprints

Allianz S.E. has said that it will reduce its number of branches in Germany to 60 from 88 amid low interest rates, reports Bloomberg.

The insurer said that the closings will be completed by January 2016. This shrinking of Allianz's branch network would affect 1% of its employees in the country. The move is expected to save the insurer around €400 million ($451 million) annually, said Allianz, adding that the savings would be used to increase digitalization of its services.

Help

Allianz to reduce number of German branches by 30%

Readers Poll

Most Read in International

Sign up now for free access to this article and much more.

If you are already registered with Business Insurance, click here to Login

Please tell us a bit more about yourself in order to continue

About

Advertise

Reprints and Licensing

Resources