Allianz Property Arm To Boost Asian Exposures - Report

Editorial Staff

23 March 2018

Allianz Real Estate, part of Germany-headquartered insurance and financial services conglomerate , intends to raise exposures in Asia, with significant chunks of money allocated to India, China and Southeast Asia, according to Asia Asset Management.

Between half and 60 per cent of the company’s investments in the region this year will be devoted to Southeast Asia, China and India, Rushabh Desai, chief executive officer of Allianz Real Estate's Asia Pacific operations, was quoted as saying.

"In the last 18 months, we have stepped up our efforts in Asia Pacific. Currently, the region accounts for around 5% of our global real estate exposure. This allocation is likely to continue to grow,” he was quoted as saying by the publication. The company entered the China market in 2016 and made its first investment in India last year. At the end of 2017, Allianz Real Estate had €56 billion ($68.72 billion) of assets under management.

In January last year, Allianz and Standard Chartered entered into a 15-year bancassurance agreement for Standard Chartered to distribute Allianz's general insurance products. Products include travel, personal accident, fire and motor insurance products for retail banking clients in Hong Kong, Singapore, Malaysia, Indonesia and China.