We will require information about the distribution activities undertaken for all our existing products, including details on any additional services or products provided as well as remuneration and service levels of all parties involved in the product distribution.
We’re already working with a number of brokers to establish a mutually beneficial and consistent approach to obtaining this information, while keeping abreast of any development that BIBA (the British Insurance Brokers’ Association) and the ABI (Association of British Insurers) have been progressing in this area.
Once we’ve identified the best approach, we’ll be reaching out to some of you for distribution chain information for our open market products. In the future, we may also request distribution chain information from all brokers with schemes or facilities with us, which fall outside of our open market product range.
We understand you may have additional questions as you also respond to the new regulatory requirements. Please check this page regularly as we’ll continue to provide the latest information to assist you further. In the meantime, please direct any further queries to your usual Allianz contact. Thank you for your assistance.