Metropolitan International starts collaboration with the worldwide Allianz employee benefits network (All Net)
All Net, the Allianz International Employee Benefits Network, expands its worldwide capabilities and distribution network by starting a cooperation with Metropolitan International.
"With its strong focus on quality products and service excellence, Metropolitan International is thus perfectly suited to join our existing network and to add value to the Pan African employee benefit solutions for our multinational clients", says Dirk Hellmuth, CEO of All Net.
New Network Insurer - Metropolitan International, part of the MMI Holdings Group.
Metropolitan International, a subsidiary of the South African based financial services group MMI Holdings Limited (MMI), pursues growth in markets outside South Africa. The core businesses of MMI are long- and short-term insurance, asset management, savings, investment, healthcare administration and employee benefits. MMI is currently the third largest life insurer in South Africa on the JSE Stock Exchange with market capitalization of R27 billion and an embedded value of some R30.8 billion. With its combined footprint, Metropolitan International is represented in 12 African territories beyond the borders of South Africa, covering life, health and employee benefit solutions.
Combined Geographic Footprint - African Continent
Allianz Africa, a subsidiary of Allianz Group and member of the Allianz International Employee Benefits Network currently delivers employee benefits insurance services in 11 African countries. While Allianz Africa has a footprint predominantly across West and Central Africa, Metropolitan International provides services in core markets across sub-Saharan and East Africa. The combined coverage footprint enables delivery of employee benefit solutions across over 24 African countries and territories. The new collaboration will offer both global and Pan African clients a more complete geographic product capability and access to a more consistent and coordinated service framework.
About All Net
The Allianz International Employee Benefits Network (All Net) is a cooperation of Allianz insurance companies and selected external insurance partners in over 80 countries with all Network Insurers being leading providers of group employee benefit programs in their respective countries. The aim is to assist international corporate clients in the coordination and implementation of their employee benefits plans on a global basis. All Net additionally provides international risk management programs, including multinational pooling and captive solutions for international corporate clients as well as insurance solutions for expatriates.
Together with its customers and sales partners, Allianz is one of the strongest financial communities. Around 78 million private and corporate customers rely on Allianz's knowledge, global reach, capital strength and solidity to help them make the most of financial opportunities and to avoid and safeguard themselves against risks.
In 2011, around 142,000 employees in over 70 countries achieved total revenue of 103.6 billion euros and an operating profit of 7.9 billion euros. Benefits for our customers reached 86.5 billion euros.
This business success with insurance, asset management and assistance services is based increasingly on customer demand for crisis-proof financial solutions for an ageing society and the challenges of climate change. Transparency and integrity are key components of sustainable corporate governance at Allianz SE.