Allianz France is a French

insurance company Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

, headquartered in Rue de Richelieu,

Paris Paris () is the capital and most populous city of France, with an estimated population of 2,165,423 residents in 2019 in an area of more than 105 km² (41 sq mi), making it the 30th most densely populated city in the world in 2020. Si ...

. ''Assurances Générales de France'' (the company only refers to itself as AGF) is a majority-owned subsidiary of the German multinational

Allianz SE Allianz ( , ) is a German multinational financial services company headquartered in Munich, Germany. Its core businesses are insurance and asset management. The company is one of the world's largest insurers and financial services groups. The ...

. The company provides

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

and

financial services Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, ...

in France and internationally.

History

In 1990, AGF was 72% state owned by the French government. Thus, AGF was among those companies owned in large part by the government in 1993 when passage of a French "denationalization law" took place. AGF was

privatized Privatization (also privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when ...

as part of the law's implementation in 1996, though the French government retained a 57% ownership stake. This level of ownership is consistent with the company remaining a part of French economic infrastructure in a crossed share holding set of relationships with

Société Générale Société Générale S.A. (), colloquially known in English as SocGen (), is a French-based multinational financial services company founded in 1864, registered in downtown Paris and headquartered nearby in La Défense. Société Générale ...

and Alcatel-Alsthom. A second such "pole" at the time (1996) consisted of

Banque Nationale de Paris BNP Paribas is a French international banking group, founded in 2000 from the merger between Banque Nationale de Paris (BNP, "National Bank of Paris") and Paribas, formerly known as the Banque de Paris et des Pays-Bas. The full name of the grou ...

, Union des Assurances de Paris and

Suez Suez ( ar, السويس '; ) is a seaport city (population of about 750,000 ) in north-eastern Egypt, located on the north coast of the Gulf of Suez (a branch of the Red Sea), near the southern terminus of the Suez Canal, having the same bou ...

. The year after privatization, in 1997, AGF was purchased by

Allianz Allianz ( , ) is a German multinational financial services company headquartered in Munich, Germany. Its core businesses are insurance and asset management. The company is one of the world's largest insurers and financial services groups. Th ...

of Germany, part of a period of acquisitions for Allianz from 1992 to 1999 during which it purchased 11 companies. , AGF was traded on the

Euronext Euronext N.V. (short for European New Exchange Technology) is a pan-European bourse that offers various trading and post-trade services. Traded assets include regulated equities, exchange-traded funds (ETF), warrants and certificates, bonds, ...

stock exchange A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for t ...

under the symbol "AGF" and represented in the United States under the symbol "ASGFF".

Operations

, AGF employed 30,585 personnel. Also as of 2007, the company derived 62% of its revenue from activities in France.

Corporate governance

, Jean-Philippe Thierry held the posts of

chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especiall ...

and

chairman of the board The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the group ...

, Patrick Dixneuf was both

chief operating officer A chief operating officer or chief operations officer, also called a COO, is one of the highest-ranking executive positions in an organization, composing part of the " C-suite". The COO is usually the second-in-command at the firm, especially if ...

and

chief financial officer The chief financial officer (CFO) is an officer of a company or organization that is assigned the primary responsibility for managing the company's finances, including financial planning, management of financial risks, record-keeping, and fina ...

, and Francois Thomazeau was the

chief investment officer The chief investment officer (CIO) is a job title for the board level head of investments within an organization. The CIO's purpose is to understand, manage, and monitor their organization's portfolio of assets, devise strategies for growth, act as ...

AGF Subsidiaries

* Euler Hermes * AGF Private Bank, serving the companies "wealthiest clients" * AGF France, formed in 2006, contains all French activities outside of Euler Hermes and Mondial Assistance * Mondial Assistance

References

External links

AGF website (in French)
{{DEFAULTSORT:Allianz Allianz Financial services companies established in 1818 Insurance companies of France Privatized companies of France French subsidiaries of foreign companies