Allianz has refreshed its construction capability across the European Economic Area, offering cover for contract works, contractor's plant and contractors' liability, as more UK-headquartered businesses take on construction projects across borders.
The update sits within Allianz's wider Multinational proposition, which the insurer says grew 19.1% in 2025 and also spans property and business interruption, liability, motor fleet, property owners and professional services cover.
Supported by local underwriting expertise, the refreshed capability is designed to help brokers support customers across borders, navigate local insurance requirements, and access multinational construction cover that is clearer, more consistent and better aligned to how businesses actually operate. It targets UK-based contractors seeking either annual policies or cover for one-off projects, and is aimed at businesses including commercial developers undertaking new builds or refurbishments, mechanical and electrical contractors, and civil engineers.
This construction update continues a period of active investment in Allianz's multinational proposition more broadly. Insurance Business UK reported in May 2026 that Allianz Commercial appointed Karol Dobias as global head of multinational, succeeding Guy Money, who moved into a regional managing director role for Iberia.
Dobias's mandate explicitly includes scaling the Multinational Excellence Center that launched in Madrid earlier in 2026, part of what Allianz has described as an expertise-led approach to unlocking growth across its cross-border proposition. That structural investment gives this construction-specific refresh a clearer strategic backdrop: rather than a standalone product update, it's one piece of a broader, actively managed push to strengthen Allianz's multinational offering across several lines simultaneously.
Karen Boothroyd, head of construction, engineering and energy at Allianz UK, said construction businesses don't operate neatly within borders, and neither do the risks they face, with projects, people, equipment and contracts often moving across territories in ways that make cover more complex for brokers and their customers. She said the refreshed capability is about making that easier, bringing together Allianz's international reach, local underwriting expertise and a more tailored approach to sector-specific risk, helping brokers support construction customers with greater clarity and confidence.
Construction risk is a particularly demanding test case for any multinational insurance proposition, since contract works, contractor's plant and liability exposures are shaped heavily by local building regulations, labour law and contractual norms that vary significantly even within the EEA's single insurance market.
A UK contractor taking on a refurbishment project in, say, Germany or Poland faces materially different liability and regulatory requirements than it would domestically, which is precisely the kind of complexity a refreshed, locally-underwritten multinational product is intended to smooth over for brokers who might otherwise need to arrange fragmented, country-by-country cover.
Allianz's decision to refresh construction specifically, rather than another line within its multinational portfolio, likely reflects both the sector's inherent cross-border complexity and the fact that UK construction, engineering and infrastructure firms have been increasingly active on international projects in recent years.
Combined with the group's separate investment in dedicated multinational leadership and its Madrid excellence centre, this update reads as a deliberate, sector-specific build-out rather than an isolated product tweak, and is likely to be followed by similar refreshes in other Multinational lines as Allianz continues investing behind the 19.1% growth it reported for the proposition in 2025.
