Continuing with its strategy of repositioning its product line, Allianz SE announced Thursday that it will sell the Fireman’s Fund U.S. personal lines insurance, which is focused on high net worth customers, to ACE Limited for $365 million.
The sale is in line with Allianz’s plans, announced earlier in 2014, to reposition its US property and casualty insurance business by integrating the Fireman’s Fund Insurance Company (FFIC) commercial business into Allianz Global Corporate & Specialty (AGCS), the global industrial insurer of Allianz Group.
The sale also signals a further decline of the Fireman’s Fund brand, which is slowly fading after 150 years. Fireman’s Fund was founded in San Francisco in 1863 by retired sea captain William Holdredge to protect San Francisco homes and businesses during the boom times of the Gold Rush. The company’s name comes from Holdredge’s pledge to donate 10% of company profits to the widows and children of fallen San Francisco firefighters.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
