Allianz branches into Bali

Allianz branches into Bali

JAKARTA (JP): Allianz AG, the Germany-based insurance company,
opened a new branch office in Bali on Friday as part of its
expansion program.

The new office will be occupied by Allianz Utama, which deals
with general insurance, and Allianz Life, which deals with life
insurance, according to a statement issued by Allianz Utama.

Allianz AG has similar combined operations in Medan, Makassar
and Semarang. Branches in Yogyakarta, Palembang, Manado and
Bandar Lampung will follow this year, it said.

"This expansion program will help the parent company achieve
its goal of becoming one of the big five insurance companies in
every country in which it operates," it said.

With three million people, 15 percent export growth every year
and 2.17 percent growth in its services sector in 1999, Bali is a
potential market for general and life insurance, the company
said. (05)