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Allianz Cornhill to invest $7.7 million in India
By siliconindia staff writer
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Tuesday, 05 October 2004, 19:30 IST
THIRUVANANTHAPURAM: Allianz Cornhill, India, the first ever offshore software development centre of Allianz Cornhill, UK, is flagging off its expansion plans with an investment of Rs 35 crore in Technopark here later this month.
Allianz Cornhill CEO, Andrew Torrance, will inaugurate the company's facility of 50,000 sq feet on October 11 at Technopark's IT-environ Bhavani, a company release said here on Monday.
Set up last year, Allianz's Indian facility had been functioning from Chandragiri in Technopark employing around 150 professionals both in its IT and IT enabled Services wings. The staff strength is planned to be raised to 400 in 2005.
Allianz is a leading global provider of insurance, banking and asset management services with presence in more than 70 countries.