Jay Ralph,
President and CEO of Allianz Risk Transfer in Zurich, subsidiary
of the insurance giant Allianz, said that the company's New York
office would open a subsidiary in Bermuda, to be headed by local
man Robin Hamill. Ralph said this demonstrated Allianz's commitment
to the North American market, and also attested to Bermuda's status
as a global insurance centre. Allianz Risk has capital of $362;
its parent, Allianz, has triple A ratings from Standard and Poor's.
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