Allianz China opens Beijing branch

Allianz China General Insurance Company Ltd opened its Beijing branch Wednesday, marking its third foray in the world's second-largest insurance market.

With a full branch license granted by the China Insurance Regulatory Commission, Allianz is able to provide its suite of commercial and consumer property and casualty solutions to customers in Beijing, including travel, personal accident, health and motor insurance, as well as liability, marine, construction, energy, financial lines and trade credit.

"We believe that China's insurance sector can maintain double-digit growth in the coming decade, with health insurance and pension in huge demand. We invested heavily in the digital sector to bring a new model here," said George Sartorel, Allianz's regional CEO for Asia-Pacific.

The Beijing branch will be Allianz China General Insurance's third branch in the country after Guangdong and Shanghai and, together with its sale services office in Shenzhen, completes Allianz's property and casualty coverage across China's metropolitan cities.

"We are very strong in the risk management sector, so it will be our focus here," Sartorel said.