Allianz Insurance shifts $9.8m Asia business to OMD

SINGAPORE: Allianz Insurance Management has moved its estimated $18 million (US$9.8 million) Asia media deal to OMD to the disappointment of incumbent Initiative Media, which used to handle the account globally.

Flora Lee, Allianz corporate advertising manager, said OMD demonstrated that it understood the business and had a good knowledge of the market and consumer insights.

Lee insisted that OMD's link with BBDO Singapore - Allianz' regional creative agency - had no bearing on the decision. Both belong to the Omnicom group.

"There'll be greater synergy but I don't think we appointed them because of that. Rather, we were impressed with OMD's strategic thinking,

said Lee.

OMD pitched against Initiative, The Media Edge and Zenith Media for the account, which covers China, Singapore, Malaysia, Thailand, Indonesia, Taiwan, Korea and India.

OMD's three-year contract starts in May and will involve annual reviews.