Allianz has joined the rush to enter the local aviation insurance market, following hot on the heels of AIG's local operations, which announced a similar move last week.

The German insurer says its foray into aviation insurance in Australia and NZ will be written through Allianz Global Corporate & Specialty. The division's Pacific GM, Stefan Feldmann, says it's one of the largest global aviation insurers.

The aviation operation will be based in Melbourne - as is market leader QBE Aviation -and will be headed up by Michael Dalton. It will begin operations on March 17.