Allianz Global Corporate & Specialty
Allianz Global Corporate & Specialty North America acquires AIM
Chicago, IL, July 10, 2007 – Allianz Global Corporate & Specialty North America, the
corporate and specialty carrier of the Allianz Group in North America, has acquired AIM
Underwriting Ltd.(AIM) in Canada.
Founded in April of 1999, AIM has been a Managing General Agent. Since the inception of the
company, AIM has maintained a strong presence within the Canadian general aviation industry
specializing in hull and liability coverage, with an estimated market share of 25% in those
specialties. AIM’s excellent reputation across Canada for providing superior service has resulted
in a steady growth in premiums over the past five years with well above average client retention
During the past seven years, AIM has underwritten aviation risks on behalf of Allianz Global
Corporate & Specialty North America, providing to both Allianz and their aviation clients a high
level of customer service.
Commenting on the acquisition and its fit, Wolfgang Schatz, President and CEO of Allianz Global
Corporate & Specialty North America said, “Acquiring AIM will enable us to expand our aviation
business in Canada. This is part of our overall diversification strategy for North America to better
serve the needs of our insureds by offering a wider range of products in Canada and in the US.”
AIM’s recognized brand name will be unaffected by the acquisition. Peter May, the former owner
of AIM, and his accomplished team remain and will become part of the Allianz Global Corporate &
Specialty North American team.
About Allianz Global Corporate & Specialty
Allianz Global Corporate & Specialty AG is a wholly and subsidiary of Allianz SE and is the
dedicated global carrier for corporate and specialty risks. The organization manages a diversified
portfolio of insurance products and services - the fifth largest Property/Casualty insurer in the
Allianz Group. Allianz Global Corporate & Specialty is the only insurer worldwide that combines
corporate, marine, aviation and specialty business and has recently integrated the Zurich-based
Allianz Risk Transfer unit. The carrier wrote a cumulative EUR 2.8 billion gross premium in 2006.
Also offering the security and capacity of an enlarged balance sheet, the organization insures
nearly half of the world's Fortune 500 companies. The carrier was recently rated AA- with a
positive outlook by Standard and Poor’s.
In North America, Allianz Global Risks US Insurance Company is the dedicated North American
carrier for Allianz Global Corporate & Specialty.
Market Management & Communication
Allianz Global Corporate & Specialty, North America
Allianz Global Risks US
225 W. Washington Street, Suite 2000
Chicago, IL 60606-3484
Phone (312) 224-3300 (888) 466-7883
Fax (312) 641-3797