Low claims in Spain boost Allianz numbers

By Adrian Ladbury

A NEW claims strategy at Allianz Seguros, Spain’s second biggest non-life insurance group with a 7% market share, has helped deliver a record post-tax profit for 2003 of E124.4m ($151.5m), writes Adrian Ladbury. The company said that its focus on claims control, absence of any major industrial losses and strong growth on premiums had all helped deliver the impressive result.