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Founded in 1890 in Berlin, the Allianz Group is one of the world's largest integrated financial services organizations with 700 subsidiaries, 174,000 employees and operations in 70 countries around the globe. For the year 2003, Allianz AG reported gross revenues of $96.2 billion. In 2003, the company ranked as the 12th largest corporation in the world (Fortune, July 2003). At the top of the international group is the holding company, Allianz AG, with its head office in Munich. Allianz Group provides its more than 60 million customers worldwide with a comprehensive range of services in the areas of property and casualty insurance, life and health insurance, asset management and banking.