Allianz to axe up to 1,800 jobs in travel insurance segment

ALIZF +1.03%

Allianz is planning to reduce its workforce in the travel insurance segment by between 1,500 and 1,800 employees over the coming 12–18 months, reported Reuters, citing sources.

Most affected positions are within call centres as the company moves forward with integrating AI into its processes, the source added.

Of Allianz Partners’ total workforce of 22,600 employees worldwide, around 14,000 are responsible for handling customer queries and claims by phone.

Citing unnamed sources, German newspaper Süddeutsche Zeitung recently reported that Allianz Partners intends to reduce its workforce.

In a written statement to Bloomberg, the company said it is exploring how to leverage AI in the coming years.

Allianz added: “We anticipate these changes will create opportunities for learning, growth and new roles within the company but may also impact positions which are heavily reliant on manual processes today.”

In June, Allianz made headlines by letting go of 650 employees from its UK insurance business amidst ongoing market pressures.

The insurer has notified employees that the redundancies will affect positions across its commercial, specialty and personal insurance divisions.

Recent financial results show that Allianz’s net income attributable to shareholders for the third quarter of 2025 rose by 15.2% to €2.8bn ($3.24bn), compared to €2.4bn in the same period last year.

Operating profit during this period increased by 12.6% to €4.4bn from €3.9bn a year earlier.

In the first nine months of 2025, net income attributable to shareholders was €8.11bn, up 8.7% from €7.4bn in the same period a year earlier.

"Allianz to axe up to 1,800 jobs in travel insurance segment" was originally created and published by Life Insurance International, a GlobalData owned brand.

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