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Allianz and Western Union Sign Memorandum of Understanding

DUBAI May 21, 2012

  • Focus on growing demand beyond developed markets
  • Companies to explore collaboration on products, distribution and co-marketing

Allianz SE and Western Union Company (NYSE: WU) have signed a Memorandum of Understanding to develop, design and distribute insurance products in several countries around the world.

Allianz and Western Union will work closely over the next year to develop solutions for customer needs within each of the companies’ networks, which together reach millions of potential customers. The companies anticipate that Allianz will take the role of product provider and Western Union will serve as distributor. They will also explore co-marketing opportunities and premium payments for Allianz customers through Western Union.

Michael Diekmann

Hikmet Ersek

Middle East Africa Jean Claude Farah Africa

"This step enables Allianz and Western Union to begin quickly offering relevant and timely solutions that will help develop the financial and insurance framework in the region" Farah added.


These assessments are, as always, subject to the disclaimer provided below.

About Allianz

Together with its customers and sales partners, Allianz is one of the strongest financial communities. Around 78 million private and corporate customers rely on Allianz’s knowledge, global reach, capital strength and solidity to help them make the most of financial opportunities and to avoid and safeguard themselves against risks.

103.6 billion euros 7.9 billion euros 86.5 billion euros

This business success with insurance, asset management and assistance services is based increasingly on customer demand for crisis-proof financial solutions for an ageing society and the challenges of climate change. Transparency and integrity are key components of sustainable corporate governance at Allianz SE.

About Western Union

$81 billion

Cautionary Note Regarding Forward-Looking Statements

The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words "may", "will", "should", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Allianz Group’s core business and core markets, (ii) performance of financial markets, including emerging markets, and including market volatility, liquidity and credit events (iii) the frequency and severity of insured loss events, including from natural catastrophes and including the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the Euro/U.S. Dollar exchange rate, (ix) changing levels of competition, (x) changes in laws and regulations, including monetary convergence and the European Monetary Union, (xi) changes in the policies of central banks and/or foreign governments, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures, and (xiv) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences. The company assumes no obligation to update any forward-looking statement.

No duty to update

The company assumes no obligation to update any information contained herein.

For Immediate Release

Rania Chidiac
Middle East

[email protected]

SOURCE Western Union

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