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Allianz

S&P turns negative on Allianz AGCS unit

3rd December 2019

S&P Global Ratings considers Allianz Global Risk US Insurance Co.'s (AGRUS) continuing underperformance relative to peers as a hindrance to the performance of its parent Allianz Global Corporate & Specialty (AGCS), revising its outlook on AGRUS to negative from stable. S&P believe the recent change in CEO at AGCS indicates ... Read the full article

Allianz AGCS announces launch of new value-added services

19th November 2019

Allianz Global Corporate & Specialty (AGCS), insurance giant Allianz's corporate insurance arm, has announced the establishment of AGCS Services, a new business initiative designed to provide value-added services to its corporate clients. AGCS explains that the offering includes risk consulting, captive fronting and crisis management solutions, and will initially be launched ... Read the full article

Allianz receives approval for Chinese holding company

15th November 2019

Germany-based insurance giant Allianz is to commence the operation of China's first fully foreign-owned insurance holding company, after receiving approval from the China Banking and Insurance Regulatory Commission (CBIRC). Based in Shanghai, Allianz (China) Insurance Holding Company will support the growth ambitions in the country by enhancing the insurer's strategic and ... Read the full article

Allianz AGCS adds Williams as global head of financial lines

15th November 2019

Allianz Global Corporate & Specialty SE (AGCS), Allianz Group’s specialist carrier for corporate insurance business, has appointed Shanil Williams as global head of financial lines, effective November 15. Williams, who joined AGCS in 2016 as global head of commercial for New Zealand, succeeds Bernard Poncin, who is set to leave the ... Read the full article

Allianz & Microsoft partner on open-source insurance platform

14th November 2019

Global insurance giant Allianz has partnered with multinational technology company Microsoft to re-imagine the insurance industry experience through digital transformation. The new strategic partnership has a focus on digitally transforming the insurance sector and is designed to simplify the insurance process while at the same time creating an improved experience for ... Read the full article

Allianz AGCS announces CEO succession amid leadership changes

14th November 2019

Allianz Global Corporate & Specialty (AGCS), Allianz's specialist carrier for corporate insurance business, has announced that Joachim Müller will replace Chris Fischer Hirs as Chief Executive Officer (CEO), effective December 1st, 2019. It was revealed in the media recently that AGCS CEO Fischer Hirs had departed the firm, and the ... Read the full article

Allianz AGCS CEO Fischer Hirs reported to have departed firm

12th November 2019

Chris Fischer Hirs the Chief Executive Officer of Allianz Global Corporate & Specialty (AGCS), Allianz Group’s specialist carrier for corporate insurance business, has reportedly departed suddenly from the firm. The news was first reported in Germany by Herbert Frommes Insurance Monitor, with speculation surrounding the precise reason for the departure. Update: Read the full article

Allianz posts strong Q3 operating profit despite dip in P&C

8th November 2019

Global insurance giant Allianz has reported a slight increase in net income to €1.9 billion for the third-quarter of 2019, while operating profit was strong at €3 billion despite a decline in Property and Casualty (P&C). Overall, Allianz saw its total revenues increase by just over 8% to €33.4 billion in ... Read the full article

Swiss Re, Allianz & Zurich commit to net zero emissions by 2050

26th September 2019

Re/insurance giants Swiss Re, Allianz and Zurich are among a group 12 global companies that have committed to transitioning their investment portfolios to net zero greenhouse gas emissions. The Net-Zero Asset Owner Alliance represents more than US $2.4 trillion, and was convened by the UN Environment Programme’s Finance Initiative and the ... Read the full article

Allianz, MS&AD in mix to buy Aviva’s Asian operations, reports

24th September 2019

Reports have emerged from Reuters claiming that Allianz, Nippon Life and MS&AD are among a dozen companies are actively looking to purchase the Asian operations of UK insurer Aviva. Aviva confirmed earlier this year that it was examining options for a sale of the business as part of a new strategy ... Read the full article

Reinsurance is still as much art as science, says Allianz Re CEO, Amer Ahmed

10th September 2019

Despite the rise of technology and other market disruptions, relationships remain a key component of the reinsurance landscape and the business is still a combination of both art and science. This is according to Amer Ahmed, Chief Executive Officer (CEO) of global insurer Allianz’s reinsurance division, Allianz Re. Reinsurance News met ... Read the full article

Allianz expands in Brazil with €667mn acquisition from SulAmérica

23rd August 2019

Global insurer Allianz has agreed to acquire automobile and other property and casualty (P&C) operations from Brazilian insurer SulAmérica in a deal valued at BRL 3 billion (€667 million). The transaction is expected to significantly expand Allianz’s presence in Brazil, making it one of the top three insurers with a market ... Read the full article

Regulator applies additional capital requirement to Allianz Australia

14th August 2019

After conducting a self-assessment in 2018, Allianz Australia, a division of global re/insurer Allianz, has had an additional $250 million capital requirement imposed by the Australian Prudential Regulation Authority (APRA). Allianz was one of 36 banks, insurers and superannuation companies that the APRA asked to conduct a self-assessment in 2018, which ... Read the full article

Allianz reports solid Q2 profitability on improved L&H result

2nd August 2019

Global insurer Allianz has reported total revenue and net income growth for the second-quarter of 2019, as a higher operating result in Life and Health (L&H) more than offset a decline in Property and Casualty (P&C) on the back of a lower investment result. Total revenues increased by 6.1% in the ... Read the full article

Allianz in talks to buy P&C, auto units from Brazilian insurer Sul América

3rd July 2019

Allianz is currently in bilateral talks with Brazilian insurer Sul América S.A. regarding the potential acquisition of its property & casualty (P&C) and auto units. Sul América revealed in a recent securities filing that it had received a nonbinding offer from Allianz and was in the process of discussing a possible ... Read the full article

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