A tale of two cities

Allianz's German insurance business is a domestic powerhouse, but how will it fare in the new world of risk-based economic capital? Nicholas Dunbar reports


In Germany, the story of Allianz is a tale of two cities. There is the brash, cosmopolitan city of Munich where Allianz has its group headquarters, masterminding takeovers across the globe, addressing shareholders and tweaking its balance sheet in the international capital markets. And there is aloof, provincial Stuttgart, where the company's German life, health and general insurance businesses are based.

Allianz is indisputably the country's dominant insurance provider, raking in over EUR25

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