Allianz SE (formerly Allianz Aktiengesellschaft, or Allianz AG) is a European Company (Societas Europaea, or SE) incorporated in the Federal Republic of Germany and organized under the laws of the Federal Republic of Germany and the European Union. It is the ultimate parent of the Allianz Group. It was incorporated as Allianz Versicherungs- Aktiengesellschaft in Berlin, Germany on February 5, 1890 and converted to a European Company on October 13, 2006. As an integrated and globally operating financial services provider it seeks to offer its clients value by providing a range of insurance and financial products as well as an extensive advisory capacity through its subsidiaries. It operates and manages its activities through three operating segments: Property-Casualty, Life/Health and Asset Management. It serves a comprehensive range of retail and institutional asset management clients. The Company's institutional customers include corporate and public pension funds, insurance and other financial services companies, governments and charities as well as financial advisors. The Company's Corporate segment's activities include the management and support of Group's businesses through risk, corporate finance, treasury, financial control, communication, legal, human resources and technology functions. It is an insurance group in the world. The Company's products includes an array of property-casualty and life/health insurance products for both private and corporate customers. It has recently expanded its engagement in China by increasing the participation in its joint venture, Guotai Allianz Finanz Management. It is subject to competition from both bank and non-bank institutions that provide financial services and, in some of its activities, also from government agencies. The Company's insurance, banking and asset management businesses are subject to detailed, complete regulation and supervision in all countries in which it does business.