Allianz Global Corporate & Specialty to close its Dubai office

Τετάρτη, 26 Φεβρουαρίου 2020 16:20

Allianz Global Corporate & Specialty (AGCS) is to close its Dubai office.

Current business is expected to go to London or Asia, with 23 local employees affected by the closure.

The decision comes after a strategic business review of the office and its future potential.

AGCS said the Dubai office had stagnant premium growth over the last few years and a high cost base, mostly driven by office rental, HR costs and broker commissions.

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