Abstract
The AGF Group is a major player in insurance and financial services, both in France and in more than twenty countries around the world. It has more than 60 billion clients from more than 70 countries world-wide. Backed by the n° 1 in European insurance, Allianz AG, of which it is a major entity, AGF is a general insurance company offering life and health, and property and liability insurance, as well as banking and asset management services. AGF is also a world leader in credit insurance with Euler Hermès and in assistance and travel insurance with Mondial Assistance. Allianz has given AGF the responsibility for developing business on the group's behalf in a number of counties where AGF has historical ties. They include: France, Benelux, Spain, South America, Africa and the Middle East. More than 90% of its activities are concentrated in Europe with 64% in France. AGF has existed for more than 180 years. And today it is one of the Allianz Group's main entities, and responsible for a major portion of its revenues and operating in one of its core business, namely the insurance of property and people in Western Europe. Since April 1998 Allianz has had a controlling interest in AGF and today holds 58.8% of its share capital. AGF has a legal status of a public limited company with its board of directors. Since insurance is a subject to tight regulatory and business constraints based on the country, the Allianz Group has adopted decentralized management model, where AGF local teams are responsible for different entities and manage their business while informing and carrying out regular information exchange with managers of their business within the parent company.
Extract
[...] This was my second challenge. - I had difficulties in my first interviews, because I had no idea what type of questions to expect, and how to answer them; I was a little bit nervous? I succeed this third challenge because I acquired some experience during my first interviews. Finally, I refused couple of companies, as I wasn't really interested in what they were proposing to me. I guess I've succeeded my research, and I believe that the process itself was rich in learning. [...]
[...] I discovered some new reasons of differences in stocks; and together with IT technician we eliminated some of them so that they wouldn't appear in future. 2.6 Specific Cultural Issues related to the French Professional Environment - Importance of rules: In the French society and in the French corporate world in particular, rules have a very important place. This is also common for most of the western countries. Rules are applied in a universal way: they are the same for every one and there is not much place for exceptions. Punctuality, respect of schedules, professional behaviour? [...]
[...] In the beginning I was hesitant to express clearly what I wanted to change in my job, but I had to learn to be more confident in my relationship with my direct superior. - Managerial skills: I am very ambitious and my goal is to get managerial positions. For this, I will clearly need to develop my leadership skills: motivating people, give them the right direction, conducting them to success? During this internship I did not have the opportunity to train myself on managing a team, because I didn't have one. But it is very important for a manager to have excellent technical skills first. [...]
[...] Asset-liability management function understands keeping equilibrium between assets (units managing investments) and liabilities (clients investments in our portfolios represented by canton companies), governing conflicts and some technical problems, etc. Management control direction is subdivided into two parts: management control of the Asset Management and DII's cash flows and asset-liability management control. DII Management control direction is in relation with the central one. Accounting management occupies the central position within DII and employs 75% of DII staff. It is in relation with General accounting department, with Mother Company accounting and with AGF US accounting. [...]
[...] And it was the fourth time that both of them have been ranked among the top ten percent of the industry's companies as regards sustainability. Allianz and AGF are performed particularly well in the areas of sustainability expertise, risk and crisis management, internal scorecards and products which generate social value added. 1.8 Product / service description AGF helps individuals, companies and professionals to fulfil their potential, face risks and realise their financial goals. The company therefore offers a complete range of performing products in areas of insurance and financial services. [...]
