According to the “Süddeutsche Zeitung”, insurance brokers report that Allianz wants to get rid of hundreds of medium-sized companies by increasing prices by up to 400 percent. Property insurance, which companies use to protect themselves against fire, storm damage and business interruption, is affected.

Allianz insurance apparently wants to get rid of hundreds of medium-sized companies as customers. This is reported by insurance brokers who buy the covers for these companies. The insurer has announced increases of up to 400 percent to several hundred customers. It is about property insurance, with which companies protect themselves against fire, storm damage and business interruption. This is reported by the “Süddeutsche Zeitung”.

On average, the asking price is about 20 percent. “In the case of increases of 10 percent to 30 percent, Allianz also states that it is willing to negotiate,” says the broker. “With the really steep increases, it’s clear that the insurer no longer wants these companies.”

An Allianz spokeswoman denied that Allianz wants to part with customers. “It’s not about getting rid of risk,” she explained. “But in the last four years, German insurers have made a loss of over five billion euros in property business with industry, commerce and agriculture.” Inflation alone has made major claims much more expensive. “That’s why we are currently raising the prices for companies with high claims potential in some segments so that they can cover the increasing claims requirements.”

According to “SZ” information, Allianz has put around 2000 insurance contracts with medium-sized companies up for sale. It is about companies with a turnover of up to 500 million euros. Rivals such as Talanx/HDI, R V or Zurich should benefit from this. That doesn’t seem to bother the company management under Frank Sommerfeld. She apparently wants to prevent the insurer from being faced with high claims in the next economic downturn. Losses increase in times of recession, often because companies skimp on security.