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Allianz Global Assistance 2012 Annual Report Lines of business We’re 04 here to help International presence We’re 18 everywhere Financial results We’re 28 right on track Helping people anytime, anywhere Annual report 2012 Contents 1 Editorial Key figures 2 Executive committee TURNOVER STAFF Lines of business (in million euros) (by region) 1,892 2,238 4 We’re 2,054 here to help 9 TRAVEL A steady, 2010 2011 2012 challenging year 61 % 23 % 16 % EMEA Americas Asia 12 AUTO NET PROFIT Pacific Growth and (in million euros) innovation 67.2 62.3 65.2 15 HEALTH, HOME & LIFE TURNOVER Expansion (by lines of business) across the globe International presence 2010 2011 2012 18 COMBINED RATIO We’re (in percentage) everywhere 95.8 96.8 96.0 44 % 38 % 18 % 22 AMERICAS Travel Auto Health, Shaped and strengthened Home & Life by diversity 24 ASIA PACIFIC 2010 2011 2012 TURNOVER A powerhouse (by zone) of potential TOTAL STAFF 26 EUROPE MIDDLE EAST AFRICA (number of people) Balancing North, South, East and West 10,783 10,920 12,171 Financial results 28 60 % 23 % 17 % We’re EMEA Americas Asia right on track 2010 2011 2012 Pacific 29 REVIEW OF OPERATIONS for the year 2012 4 million 20 million 50 million text messages 30 FINANCIAL STATEMENTS cases handled; calls handled; received and sent; 1 every 2 seconds 3 every 2 seconds of Allianz Global Assistance 1 every 8 seconds © Allianz Global Assistance – May 2013 – Production: Group Communications – Concept & design: – Texts: Victoria Nagel Hauzy, Dixit Marin LLC – Images: Allianz Global Assistance, Getty, Thinkstock, Shutterstock, Guillaume Leblanc, Pierre Emmanuel Rastoin - Printer: BM, which has earned both Imprim’Vert and PEFC™ certification and has committed to taking continuous tangible action to reduce harmful emissions, while saving natural resources. EDITORIAL 2012 – Constant challenges, continued success While each year represents a new and different chapter in the life of the Group, 2012 was in many ways a continuation of 2011. Although the US showed “signs of recovery, 2012 was most notably characterised by a deepening sovereign debt crisis in Europe. Many natural disasters also continued to plague the planet. Nevertheless, the Group performed well. We exceeded our revenue target of 2.2bn€, outperforming growth in 2011 by 9%. Profitability climbed 20.1% to achieve a landmark operating profit of 113m€. And against a global backdrop where mature and emerging country markets operate within very different economic landscapes, the Group reported growth across all regions and lines of business. Rémi Grenier, CEO and President We took other strides in 2012 to achieve our 2015 Ambition and maintain our position as the world’s leading provider of travel insurance and assistance solutions. Gaining traction in 2011, we pursued our rebranding campaign and today count a total of 23 subsidiaries that proudly bear the Allianz Global Assistance name. We completed the integration of NEXtCARE, our health third party administrator based in Dubai and continued to reinforce our collaboration with Allianz. Christof Mascher, Chairman of the Supervisory Board As we take stock of the year’s achievements we would like to salute those who make us what we are - our greatest asset – our people. Our 12,171 employees are highly skilled in their fields, and adept at navigating change, understanding market dynamics, and anticipating future needs; and all of this with a deep and real commitment to taking care of customers and to helping people anytime, anywhere.” CONTRIBUTORS Pedro Semiao, Willem Hornsveld, National Sales Manager Erik Heusel, Our employees Our customers Thuyly Abecassis, Business Development Automotive Assistance Group Market explaining sharing their stories Group Director B2C Manager Travel & Property Management Director our values p. 6 p. 10 p. 11 p. 14 p. 17 p. 20 Allianz Global Assistance Annual Report 2012 1 Annual report 2012 Executive Committee Helping People, it’s what we do “Our story of helping people began more than 60 years ago and has never ceased. Of course as the world and people’s needs within the world changed, our ways of helping people also changed. What once started as a limited offering in travel insurance in a small European country expanded into offerings of global reach that now cover well over 50 countries, millions of beneficiaries and ALLIANZ GLOBAL ASSISTANCE many fields of expertise. But throughout these SUPERVISORY BOARD EXECUTIVE COMMITTEE as of 9th December 2012 as of 9th December 2012 numerous evolutions, helping people has always President President remained at the heart of our business, and 3 Christof MASCHER 3 Rémi GRENIER indeed the way we ensure optimum results for Vice President Members 3 Detlev BREMKAMP 3 Ida LUKA-LOGNONÉ our customers. Helping people is part of our DNA Members 3 Laurence MAURICE and the reason why customers come to us in the 3 Bernd HEINEMANN 3 Marc STAEDING 3 Klaus-Peter ROEHLER 3 Mike NELSON first place and why they keep coming back year 3 Jacques RICHIER 3 Roland RYKART after year. Here, each of our Executive Committee 3 Ulrich DELIUS members explains what ‘Helping People’ means from their own business perspective and why, as “Helping people begins with being a financially the backbone of Assistance, it is so important.” sound, profitable, responsible and irreproachable Rémi Grenier – CEO and President organisation, without which we would not be able to advance our assistance profession. In addition to genuinely caring for others, our ability to do our job also depends on our solvency and reputation, and on our capacity to invest sustainably in the Please explain what Help and what Helping People best talent and most innovative technologies. This means to you, why it's important, and how it affects is what it means to help our customers and other your area of responsability within the company. stakeholders. This is what they expect from us.” “Helping people anytime, anywhere is the essence Laurence Maurice – Chief Financial Officer of our business. A key role lies with our staff on our “The EMEA region is home to our traditional business operational platforms. They deal 24/7 with customers and a gateway to many dynamic emerging growth who are often in distress and help them out of areas. Its many country markets have very different sometimes seemingly impossible situations. We levels of maturity, consumer behaviours and needs, constantly work on attracting the right kind of people and they are changing all the time. From this vantage to tackle this work, and we build the IT platforms and point, helping people is about accompanying our high-quality supplier networks they need to do a fast, customers at every point of the assistance value efficient job for our customers around the globe.” chain. It means really listening 24/7 and making sure Ulrich Delius – Chief Operating Officer and Head of HR that we understand what clients need so that they in turn can better serve their end customers.” Ida Luka-Lognoné – Chief Executive Officer, EMEA Zone 2 Allianz Global Assistance Annual Report 2012 “Helping people means helping clients and end “APAC is the engine of future world growth, and China customers to solve a range of assistance-related will most likely remain the world’s largest consumer problems and challenges. Through the provision of market opportunity. In this context, helping people our services and close relations, helping people means means listening to customers’ needs and developing helping business partners achieve their business solutions that will improve the quality of their lives. objectives, and consequently ensures their overall To this end we are deepening our local collaboration satisfaction. Helping people also means that we with Allianz. Entering new markets and diversifying improve the quality of life of our end customers and our offer in countries where we have a strong thereby increase their level of satisfaction and loyalty.” presence like China will enable us to help more Marc Staeding – Head of Global Sales people more often in more ways.” Roland Rykart – Chief Executive Officer, Asia Pacific Zone “Helping people means coming to the aid of people in their moments of greatest need. They may be sick abroad or their car may have broken down. Our staff are trained to assist them with empathy, reassurance and concrete solutions. Their expectations are very high because the needs are so great. Our staff are on hand to meet these expectations whatever they might be. The first thought on our minds when we pick up the telephone is and must be « How can I help? ».” Mike Nelson – Director of the Americas Zone 50 % 50 % Allianz Europe BV Groupe Allianz (NL) France Ratings A.M. Best Europe issued top ratings for AGA International in 2011: an A in Financial Strength and an A+ in Credit Rating. The company also won a high rating AA- in 2012 from Standard & Poor’s Allianz Global Assistance Annual Report 2012 3 Thomas Bösl, Tours RT- Reisen GmbH Allianz Global Assistance client Lines of business We’re here to help Life can be complicated and full of the unexpected. Isn’t it reassuring to know that someone is there for you, on every road and at every turn if and when the unpredictable happens? From providing one-time or year-long travel insurance to roadside assistance on the motorway; from carrying out medical repatriations from afar to caring for seniors in their own homes, and in every other way to help keep life as simple as possible and ensure that you and your family and home are kept safe and sound, Allianz Global Assistance is here to help. Lines of business True stories from our customers Our car tyre blew out on the motorway on our way to my best friend’s wedding.