Allianz was founded in Berlin in 1890 by Carl von Thieme and Wilhelm von Finck.
The company began as Allianz Versicherungs-Aktiengesellschaft, a German insurance corporation created during a period of rapid industrialization and expanding commercial activity. Carl von Thieme had previously been involved in the development of Munich Re, while Wilhelm von Finck was a prominent banker.
Allianz initially concentrated on transport and accident insurance. Over time, it expanded into property, life, health, asset management, and international insurance operations, becoming one of Europe’s best-known financial services groups.
Allianz is sometimes confused with Munich Re because Carl von Thieme was connected with both organizations. Their principal roles differ: Allianz developed primarily as an insurer, whereas Munich Re became one of the world’s leading reinsurers.