Allianz opens new branch

JAKARTA (JP): Insurance firm PT Asuransi Allianz Utama opened a new branch in Semarang, Central Java, on Friday to meet the growing demand for general insurance services in the area.

Semarang branch manager Wismar Nainggolan said the new office would provide various insurance services, including fire, motor vehicles, marine cargo, engineering and casualty policies.

He said Allianz Utama's Semarang office was ready to compete with some 100 general insurance offices in the city and targeted to become market leader by 2005, by controlling 12.64 percent of market share.

With the new branch, Allianz Utama is now present in five cities: Jakarta, Bandung, Surabaya, Medan and Semarang.

Allianz Utama president Manfred Wittau said his insurance firm would continue to expand its operations into more cities, including Makassar, Denpasar and Palembang -- as evidence of its confidence in the country's economic future. (rid)