WPP Group's Grey London unit bested Omnicom's DDB Berlin to win Allianz Group's global business. Sources said the account was worth $100 million.
Omnicom's BBDO Germany, the incumbent on the business, and WPP's Young & Rubicam were eliminated from consideration at an earlier stage in the review, initiated in the spring.
Grey is setting up a new entity, Team Allianz@Grey, to handle the business.
The global assignment covers business practices ranging from brand and digital communications to design, sponsorships and media.
"Grey presented the best strategy for a close integration of our brand and business, along with a road map for the new positioning of our brand communication," Steven Althaus, Allianz SE svp, global brand management, said in a statement.
At the start of the new year, Grey will begin working with Allianz SE, Allianz Global Investors, Allianz Global Corporate & Specialty and Allianz Deutschland AG. The Munich, Germany-based insurance giant's other operating units will be phased in throughout 2010.
For Grey, the win follows a string of other account gains in 2009 after CEO Jim Heekin's installation of a new management team during the year. Those account acquisitions include the National Football League, TJ Maxx, Diageo's Ketel One and Don Julio brands, America's Natural Gas Alliance and Sargento.