Allianz aims to grow sales

FRANKFURT: Europe's biggest insurer aims to increase its revenues in emerging markets and double their contribution to the group from the current 12 percent, a senior executive told a German daily.

"This volume is achievable in the long term," Manuel Bauer, board member for emerging economies said in a pre-release of his interview to be published on Monday by Handelsblatt.

Bauer said he expected revenues in China to grow even further, particularly in the automotive and real estate insurance sectors.

In India, Allianz hopes to increase its stake in a joint venture with Bajaj to 49 percent from current 26 percent, he said.