In line with this increase in the number of clients, staff numbers have also grown by 28% in the last 12 months, with the company now employing over 700 people.

The company, which is headquartered at Park West Business Campus, Dublin, is a wholly owned subsidiary of Allianz SE.

Ron Buchan, Chief Executive said: “Our 2012 financial results have been our best to-date. We set ourselves ambitious targets each year in terms of client service and financial performance and while our challenges are similar to many companies operating in Ireland, because our market is global, we also have to contend with fluctuating exchange rates, volatile political situations and changes in regional regulatory requirements, making these exceptional results even more welcome. Our financial performance in 2012, as in previous years, continues to be driven by a focus on client service, cost containment and investment in people.”

Mr Buchan confirmed that the increase in gross written premiums came from the successful acquisition of new corporate clients as well as significant additional business from existing clients.  Allianz Worldwide Care is the provider of choice for many of the leading Fortune Global 500 corporations.

The company’s consistently strong financial performance has been reflected in Standard & Poor’s recent upgrade of Allianz Worldwide Care from ‘A Stable’ to ‘A+ Stable’, an important marker for financial stability and longevity for both brokers and clients when assessing an insurer. 

2012 was also a significant one for the company in terms of expanding its global footprint; with a new office opened in Brussels in partnership with Allianz Worldwide Care Services and in China in partnership with Allianz China General Insurance Company. Allianz Worldwide Care is poised for further expansion as it leverages a range of opportunities in other regional markets, the details of which will be announced over the coming months.