Allianz Global Corporate & Specialty (AGCS)

Allianz Global Corporate & Specialty (AGCS) is the specialist commercial insurance arm of Allianz Group, one of the world largest financial services organizations. Tracing its roots to 1885 as Hanseatische Seeversicherungs-Gesellschaft, AGCS was formally constituted in 2006 by consolidating Allianz Global Risks and Allianz Marine and Aviation into a single global entity. In 2023, AGCS was unified with the national Allianz Property & Casualty commercial entities under the overarching brand "Allianz Commercial," creating one integrated go-to-market business serving corporate and mid-market clients globally.

Allianz Commercial operates as the center of expertise for insuring mid-sized businesses, large enterprises, and specialist risks within the Allianz Group ecosystem. The integrated business generated approximately EUR 18 billion in gross premium in 2024, positioning it among the world leading specialty and corporate insurers. With offices in more than 70 countries and a presence spanning over 200 territories through network partnerships, the organization provides globally coordinated, locally delivered coverage across all major property and casualty, aviation, marine, cyber, financial lines, and specialty segments.

The company underwent significant strategic realignment in 2023-2024, including the sale of its U.S. MidCorp and Entertainment insurance businesses underwritten via Fireman Fund subsidiaries to Arch Insurance North America for USD 1.4 billion. Thomas Lillelund, previously CEO of AIG Europe, Middle East and Africa, assumed leadership of both AGCS SE and Allianz Commercial in early 2025.