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Allianz revamps U.S. business, eyes Fireman's Fund options


    FRANKFURT (Reuters) - German insurer Allianz on Wednesday unveiled a revamp of its property casualty business in the United States, which has struggled to bring underwriting losses under control.

    ALLIANZ (ALV.XE)said in a statement its Fireman?s Fund commercial property and casualty business would be integrated into the specialty insurance business Allianz Global Corporate & Specialty (AGCS), which will give the combined business more than $3 billion in revenues.

    "Various options are being considered to also build scale for the personal lines business of Fireman?s Fund," Allianz said of the remaining Fireman's Fund business area that concentrates on high net worth customers.

    (Reporting by Jonathan Gould; editing by Thomas Atkins)