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.