Allianz Worldwide Partners (AWP)
2010
$1.1B
Why
The firm acquired the remaining stakes in AWP (formerly Allianz Assistance) from Dresdner Bank and other partners to fully integrate its global assistance, travel insurance, and automotive services business. This was part of a strategy to build a high-margin, service-oriented ecosystem that drives customer loyalty and cross-selling.
Impact
Full control allowed the firm to seamlessly integrate assistance services with its core auto, travel, and health insurance products, creating a unified, value-added customer experience. It significantly improved retention rates in the personal lines segment by providing immediate, tangible services (like roadside assistance) rather than just financial indemnification.
Outcome
The assistance business became a highly profitable, fast-growing division that serves as a critical distribution channel and customer retention tool, particularly in the European and Asian markets.