Allianz hires Grey to $100 million global ad account

Incumbent agency BBDO and Young & Rubicam were eliminated from the pitch at an earlier stage.

The WPP agency will set up a dedicated global team, Team Allianz@Grey, to handle brand communication, digital marketing, internal engagement, corporate design, sponsorship and the Allianz Group's media budget.

Team Allianz@Grey will begin working with company divisions Allianz SE, Allianz Global Investors (AGI), Allianz Global Corporate & Specialty (AGCS) and Allianz Deutschland early next year.

"Grey presented the best strategy for a close integration of our brand and business, along with a road map for the new positioning of our brand communication. They also showed a strong commitment to creative excellence," said Steven Althaus, senior vice-president for global brand management at Allianz.

Until now, the German company has sold its insurance products direct to consumers through Cornhill, which it acquired in 1986, and pet insurer Petplan.

However, Allianz group marketing and communications manager David Keel said it is set to launch a range of consumer offerings under the Allianz brand over the coming 12 months.

In March this year, Allianz extended its sponsorship of Formula One for the coming two Grand Prix seasons, prolonging its global engagement for another two years until the end of 2010.