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Allianz Hungária plans bigger life insurance sales

Allianz Hungária Insurance Rt will start placing a greater emphasis on sales of single-premium life insurance policies from this autumn, when the company's bank starts operating, CEO Károly Salamon said on Tuesday. Allianz announced in February it had acquired the license of Dresdner Bank and would use it to start operating a bank called Allianz Bank in the third or fourth quarter of 2006. The new stress on the single-premium policies is the only change Allianz will make to its product strategy, Salamon said. He added that Allianz had maintained its leading position on the markets for industrial insurance and vehicle insurance, but had failed to meet targets on the life insurance market, which it entered relatively late. Salamon was recently appointed to replace Mihály Patai, who has left Allianz to head HVB Bank.