Allianz stops selling car insurance

17 December 2014 (12:12)

December 17, 2014. Allianz Insurance is leaving the retail market of property, liability, and third-party liability car insurance.

‘Allianz Insurance Company had its agreement with a federal partner annulled in September 2014, which meant no third-party liability car insurance was sold any longer in the areas outside of Allianz’s presence. All the attempts to find a new partner proved economically inexpedient,’ the company’s website states.

The Russian Central Bank imposed limitations on the insurer’s third-party liability car insurance license shortly thereafter.

Still, the company is still fully responsible for all the currently valid car insurance policy payments.

Allianz is planning to focus on offering property and liability insurance to businesses as well as on life and medical insurance for both companies and private individuals.

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