Allianz Insurance has signed a 15 year lease on offices in Birmingham’s financial district.

The international insurer has taken 15,000 sq ft of Grade A space on the tenth floor of Colmore Plaza, bringing together its commercial and engineering divisions, which will relocate from Trinity Park near Birmingham Airport and a small office on Great Charles Street respectively.

Colmore Plaza is owned by global alternative asset manager The Carlyle Group.

Mark Harris, managing director, The Carlyle Group, said: “There has been a noticeable increase in activity in both the investor and occupier markets in the UK’s regional business centres recently, particularly in Birmingham where we are seeing a great deal of interest in the remaining space at Colmore Plaza.

“To be able to sign a blue chip and international business such as Allianz reinforces Birmingham’s status as a leading business location and Colmore Plaza’s predominant position within it.”

Colin Bates, regional manager at Allianz, which is due to move in the first quarter of 2014, said: “As a company, we have seen some good growth in recent years, and this move is an indication of how well our business is performing.

Bringing our commercial and engineering teams back under one roof will provide a single location for all of our customers, who are keen to see us move back into the heart of the Birmingham financial centre.

“Colmore Plaza is a great location to meet clients and really offers that ‘wow’ factor.”