Access America 2010 Annual Report Download

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Helping people
more than ever
in2010
Annual Report

Table of contents

  • Page 1
    Helping people more than ever in 2010 Annual Report

  • Page 2
    Content 1 2 4 Group history and values Brand transition Edito 8 10 12 14 Lines of business Travel Auto Health, life & property 16 18 20 21 International presence Asia-Pacific The Americas Europe, Middle East and Africa 26 28 Financial results Review of Operations for the year 2010

  • Page 3
    ... joined Allianz Group. Elvia Travel Insurance and SACNAS-Mondial Assistance successfully merged in 2000, creating the group as we know it today. The union of these two leaders in their respective fields represented a total of 80 years of experience and know-how. Quite naturally, as one united entity...

  • Page 4
    ...open dialogue is second nature to us. Why? Simply because we really do care. An integral part of our job is acting on our passion for people. At the end of the day, it's about helping you, making you feel special, and reinforcing our relationship with you. Allianz Global Assistance... your service We ...

  • Page 5
    ... everywhere at all times. Our vast human and technological connections and resources make this possible. You can point to a location on the globe and chances are, we've helped someone there. Our global reach combines with our local human touch. Allianz Global Assistance / Annual Report 2010 - 1

  • Page 6
    ... of the most significant, historic and challenging events of 2010, and critical to our 2015 Ambition, was the launch of our brand migration. We began to shed our red coat of more than 60 years for a blue one, and take on a powerful new name, Allianz Global Assistance. Two pilot countries, China and...

  • Page 7
    ... of the Allianz Group for the past 10 years, and this brand migration is a logical, natural step in our long, fruitful history. Allianz, for its part, will be able to take advantage of our emotional influence with customers and our global network of assistance service providers. Each group will draw...

  • Page 8
    ... grew with financial service companies in Europe, South America and Asia Pacific, and sales of healthcare solutions accelerated in Australia, Germany and the Netherlands. New automotive contracts fortified our portfolios in China and Australia, and offline and online travel products Ambition...

  • Page 9
    ...-LOGNONÉ Christof Mascher Chairman of Allianz Global Assistance SAS Supervisory Board COO of Allianz Group Member of the Board of Management of Allianz SE Laurence MAURICE Rémi Grenier President of Allianz Global Assistance SAS Roland RYKART Allianz Global Assistance / Annual Report 2010 - 5

  • Page 10
    ... 10,783 10,231 9,817 STAFF per zone 25% 38% TURNOVER by lines of business TURNOVER per zone 1% 22% 46% 64% 13% 62% 13% 16% Americas Asia Pacific EMEA Travel Health Life & Home Auto Americas Asia Pacific EMEA Corporate, other & consolidation 6 - Allianz Global Assistance / Annual Report 2010

  • Page 11
    ... recognises best practices to ensure top quality services. France Ensures more online and mobile assistance Our French entity introduced applications for Smartphones and iPhones so now travellers can take out insurance right before take-off! United-Kingdom Introduces iPhone app for MINI drivers...

  • Page 12
    Lines of business 1 intervention every 2 seconds 250 24/7 365 days per year million beneficiairies 8 - Allianz Global Assistance / Annual Report 2010

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  • Page 14
    ... Allianz Global Assistance recognised very early on the huge potential in the online business trend, and the importance of riding the e-commerce wave. In 2010, our online activity represented more than 55% of our overall travel insurance business! Travel partners push for global solutions In 2010...

  • Page 15
    .... More technology. And even more technology In 2010, we continued our active deployment of TI 2.0 (Travel Insurance 2.0) and began to adapt it to other types of products, such as online ticket event protection. TI 2.0 was a revolutionary solution based on a real-time exchange of information...

  • Page 16
    ..., Europe stagnates The overall 2010 market context saw car sales and the assistance business performing well in China, Brazil, Australia, Russia and India. However, the activity was flat in many markets 38% of Allianz Global Assistance turnover 12 - Allianz Global Assistance / Annual Report 2010

  • Page 17
    ... continually seek ways to improve what we do. This is our innovative voice and spirit. In 2010 we introduced the service activated warranty and mobile phone applications, which provide direct assistance in the Netherlands, the UK, Brazil, and Australia. These innovations have been very well received...

  • Page 18
    ... of the norm and requiring in-depth knowledge of local healthcare systems. In 2010, we continued to reinforce our specialised health insurance for students and professionals abroad. +15.4% in turnover 16% of Allianz Global Assistance turnover 14 - Allianz Global Assistance / Annual Report 2010

  • Page 19
    ...specific programmes and services mentioned above. We are also developing niche health insurance products and solutions, and focusing our efforts on the challenge of becoming more local in our healthcare expertise in an increasingly global world. Allianz Global Assistance / Annual Report 2010 - 15

  • Page 20
    ...From transport technicians to medical experts, home repairmen to legal advisors, employment and retirement counsellors to social service workers, our network of specialists assists you and your customers with every need, anytime, anywhere. We have a dedicated international team at group headquarters...

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    ..., and 2010 saw important business wins with major local automotive manufacturers and in the financial institutions market. Revenue was up an impressive 74% over 2009 and operating profit also pushed Group offices Branches Commercial activity 18 - Allianz Global Assistance / Annual Report 2010

  • Page 23
    ... first time since the Indian operation's inception in 2010 and with our launch into e-commerce travel insurance through Travelocity âˆ' one of Thailand After political unrest, sales are up in travel, roadside assistance and financial services In a country that is challenged by political instability...

  • Page 24
    .... Airline partners Delta, jetBlue and US Airways renewed their commitments to continue providing travel insurance via the company's ...environment in 2010, our Mexican business unit consolidated its position in the travel insurance business to become 20 - Allianz Global Assistance / Annual Report 2010

  • Page 25
    ... inroad by winning Peugeot, and boosting its portfolio of automotive customers. The entity finds itself in an increasingly competitive travel insurance landscape. To address this challenge it focused on its added value assistance services. Allianz Global Assistance / Annual Report 2010 - 21

  • Page 26
    ... travel insurance, and a new travel insurance solution for agents and operators managing large groups. The business unit reinforced cooperation with Allianz entities, seized new opportunities to provide health and lifecare solutions and launched consumer specialty insurance offers and event ticket...

  • Page 27
    ... appropriate new businesses paid off. Our Dutch business unit won three awards for best new products and services. Furthermore, it launched an innovative mobile application that provides customers with even better access to its assistance platform. It also signed important new contracts with...

  • Page 28
    ... healthcare business lost a major customer, the entity countered the loss by launching new health and lifecare products/ services (tele-dermatology and Medi24 online), cross-selling and building long-term relations with pharmaceutical companies. 24 - Allianz Global Assistance / Annual Report 2010

  • Page 29
    ... clients for service activated roadside assistance. MIDDLE EAST First year operations focused on gains in online travel insurance 2010 was the first year of operations for the group in the Middle East. The team focused on developing the online travel insurance business with airline companies, and...

  • Page 30
    Financial results 1,892 million euros turnover 67.2 million euros net profit +13.1% growth 26 - Allianz Global Assistance / Annual Report 2010

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  • Page 32
    FINANCIAL RESULTS Review of operations for the year 2010 Allianz Global Assistance Annual Report Annual closing December 31st, 2010 consolidated accounts Turnover (premiums and service revenue) In 2010, Allianz Global Assistance achieved 1.9 billion euros gross turnover with a combined ratio of 95...

  • Page 33
    0MESHIMG EUEQXNME MEEDRAKISSKE HEKORNLESILE IMSHEIQKIFE Allianz Global Assistance / Annual Report 2010 - 29

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    ... by destination UNDERWRITING RESULT Fee and commission income Gross service written Change in deferred services revenues Fee and commission expenses Interest and similar income (net) âˆ' thereof External dividends âˆ' thereof Intragroupdividends 30 - Allianz Global Assistance / Annual Report 2010

  • Page 35
    in thousand EUR 2010 (2,864) (615) (2,189) (772) 2009 890 (252) 1,772 (584) 0 Trading operating Investment expenses âˆ' thereof expenses by destination âˆ' thereof Fx result net ...499 873 (22) (579) (486) 96,176 (38,024) 58,152 (2,162) 55,990 Allianz Global Assistance / Annual Report 2010 - 31

  • Page 36
    ... accounts receivable Accounts receivable Deferred acquisition costs Cash and cash equivalents Reinsurance deposits Other assets Accrued interest Other (prepayments and accrued income) Accruals & prepayments Deferred taxes - assets TOTAL ASSETS 32 - Allianz Global Assistance / Annual Report 2010

  • Page 37
    ...for the financial year SHAREHOLDERS' EQUITY Minority interest in shareholders' equity Unearned premium reserves and deferred service income Claim reserves ... Deferred taxes - liabilities TOTAL LIABILITIES TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES Allianz Global Assistance / Annual Report 2010 - 33

  • Page 38
    ...FINANCIAL YEAR (I + II + III) Effect of exchange rate changes on cash Cash at the beginning of the financial year CASH AT THE END OF THE FINANCIAL YEAR Additional information Income tax paid (net) Dividends received Interest received Interest paid 34 - Allianz Global Assistance / Annual Report 2010

  • Page 39
    ... income statement for the financial year 2010 in % 2010 15.8 5.1 95.8 12.3 2009 14.2 5.9 95.9 4.8 Return on equity Return on earned premiums and service income (before taxes) Combined Ratio Growth on net earned premiums and service income Allianz Global Assistance / Annual Report 2010 - 35

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    Helping people, anytime, anywhere

  • Page 41
    For further information, please visit our website: www.allianz-global-assistance.com

  • Page 42
    ... Photos: Thinkstock, Getty, Allianz Global Assistance, Simon Mooney, Franck Renoir. Printed by IME on 100% paper from sustainably managed forests. ISO 14001 certified production process. Allianz Global Assistance © Allianz Global Assistance - May 2011 - Production: Group Communications - Concept...