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Law firm considering action against twelve insurers after High Court BI win

21st September 2020

Mishcon de Reya, the law firm that represented the Hiscox Action Group, could persue legal action against twelve new insurers following its Business Interruption insurance victory in the UK High Court. Based on the sample of policy wordings presented by the FCA, the court decided that most, but not ... Read the full article

AGCS highlights key trends putting pressure on liability insurers

16th September 2020

While pricing in the liability insurance market may have turned in recent months, Allianz Global Corporate & Specialty (AGCS) has highlighted a number of market trends that continue to apply pressure on the sector's insurers. Social inflation, a phenomenon especially prevalent in the US, has been driven in recent years by a ... Read the full article

Allianz Benelux, Monument Re agree book portfolio transaction

18th August 2020

The Belgium arm of global insurer Allianz, and Monument Re, have agreed to transfer a closed book of classical life retail insurances together with 4.500 mortgage loans to Monument Assurance Belgium (MAB). The transaction, which will transfer the related operations within 18 months after regulatory approvals, includes a portfolio of 95.000 ... Read the full article

Re/insurers must evolve alongside cybersecurity landscape: Allianz

14th August 2020

There has been an increase in fears around the potential for cyber security incidents during the COVID-19 pandemic, highlighting the need for re/insurers and brokers to evolve alongside the cyber risk landscape, reports Allianz. The concerns have arisen after many businesses are being required to adopt wide-scale remote working for their ... Read the full article

Allianz sees Q2 net income fall by 28.6% as pandemic dents P&C result

5th August 2020

Global insurer Allianz has announced second-quarter operating profit of €2.6 billion and a 28.6% dip in net income to €1.5 billion, while the COVID-19 pandemic served to dent the performance of its property and casualty (P&C) insurance division in the period. Overall, Allianz saw its operating profit fall by almost 19% ... Read the full article

AGCS appoints Grant Maxwell to lead Alternative Risk Transfer

24th July 2020

Allianz Global Corporate & Specialty (AGCS) has appointed Grant Maxwell as Global Head of Alternative Risk Transfer. Maxwell reports reporting directly to AGCS SE Board Member and Chief Underwriting Officer Corporate Tony Buckle. He currently leads the global Alternative Risk Transfer (ART) team on an interim basis. AGCS’ ART line of business provides structured ... Read the full article

Allianz closes €500m purchase of auto, other P&C business from SulAmérica

13th July 2020

Global insurer Allianz has closed the acquisition of the automobile and other Property & Casualty business from SulAmérica for around BRL 3.2 billion (€0.5 billion). This deal was first announced late last year and sees Allianz grow its geographical footprint in Brazil. “This represents our largest investment in Brazil,” said Iván de ... Read the full article

Allianz (AGCS) takes a new strategic direction

1st July 2020

Allianz Global Corporate & Specialty SE (AGCS), the industrial insurer of the Allianz Group, has announced the details of a new comprehensive transformation program designed to regain profitability and market leadership, called "New AGCS." On June 22nd, the company announced the realignment of its Board of Management, explaining that from ... Read the full article

Allianz (AGCS) SE reorganises Board roles

22nd June 2020

Allianz Global Corporate & Specialty SE, the industrial insurer of the Allianz Group, has announced a realignment of its Board of Management, focusing on responsibilities for regions and markets as well as for Underwriting and Claims functions. Effective from July 1, the number of Chief Regions & Markets Officers (CRMO) on ... Read the full article

Allianz (AGCS) names Head of Aviation for Regional Unit London

9th June 2020

Allianz Global Corporate & Specialty (AGCS), a division of global re/insurer Allianz, has announced the appointment of Jonathan Milford-Cottam as Head of Aviation for the company’s Regional Unit London. He succeeds Tom Fadden, current Global Head of Aviation, who has had a dual role since June 2019. Going forward, Milford-Cottam will have ... Read the full article

AGCS adds WTW’s Kang as Head of Cyber, North America

3rd June 2020

Allianz Global Corporate & Specialty has announced the appointment of Thomas Kang as Head of Cyber in North America. Effective June 15, he will based in New York and report to Paul Schiavone, North America Regional Head of Financial Lines, North America and Regional Head of Corporate Long Tail Lines and ... Read the full article

Allianz & Lime partner on micromobility safety insurance

3rd June 2020

Global insurer Allianz has entered into a strategic partnership with Lime, a leading provider of shared micromobility solutions, focused on improving the safety of micromobility. Lime, together with Allianz, through its Allianz Partners unit, have launched a comprehensive insurance program that automatically provides Lime riders with Personal Accident Insurance, and Liability ... Read the full article

Allianz adds Rebecca Rogers as head of property claims

2nd June 2020

Global insurer Allianz has announced the appointment of Rebecca Rogers as head of property claims. She brings over 23 years' experience and joins from LV= having served as commercial property technical and relationship manager. She will be responsible for the development of Allianz’ property claims handling strategies, technical best practice and ensuring overall ... Read the full article

Allianz & Generali eyeing life asset divestment: reports

28th May 2020

European insurance giants Allianz and Generali could be preparing to sell billions of euros of life insurance assets in order to free up capital amid the COVID-19 pandemic, according to reports from Bloomberg. Sources told the publication that Allianz has been working with Morgan Stanley to divest as much as €9 ... Read the full article

Allianz names Catharina Richter as Head of Cyber Center of Competence

20th May 2020

Allianz Group has announced the appointment of Catharina Richter as Global Head of its Cyber Center of Competence (CoC), effective June 1st. Established in 2018, the Allianz Cyber CoC is embedded into Allianz Global Corporate & Specialty (AGCS) and focuses on coordination and alignment of cyber exposures and insurance in the ... Read the full article

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