Allianz to restructure its property lines and decrease jobs

Note: This section contains information in English only.
Source: Marketwatch

Allianz SE plans to restructure its real estate insurance operations in Germany; the revamp will involve layoffs and new products' launch being in line with the company's long-term strategy, reported Markus Riess, chief executive of Allianz Germany. The company projects the sales to achieve EUR9.5 billion by 2014 while currently it implements cost reduction strategy by eliminating 400 jobs by the same year.

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