Reinsurance News


Allianz expands Africa presence with completed acquisition of Ensure

19th July 2018

Global insurer Allianz Group has completed the acquisition of 99.03% of the shares of Nigerian insurance company, Ensure Insurance plc, from Greenoaks Global Holdings Ltd. Effective July 18th, 2018, Ensure becomes part of the Allianz Group, and will operate in Nigeria as Ensure - a company of Allianz. Ensure offers both life ... Read the full article

Allianz says major M&A deals are not on the horizon

29th June 2018

Insurance giant Allianz has denied that it has ambitions to complete a major merger or acquisition (M&A) deal, saying that no deals are on the horizon. Allianz also said at a day for investors and analysts held this week that they are not in discussion with any of the companies Read the full article

Allianz planning huge UK insurance acquisition, Aviva and RSA both targets

18th June 2018

A report from The Sunday Times suggests Chief Executive Officer (CEO) of Allianz, Oliver Bäte, has been working with investment bankers for several months as he weighs up options on a list of potential deals. Allianz are said to be interested in pursuing a large UK insurance acquisition, with Aviva and ... Read the full article

Italy’s rising sovereign risks threaten major insurer ratings: Moody’s

6th June 2018

Moody’s Investors Service has placed Italian insurers Allianz S.p.A (Allianz Italy) and Unipol Gruppo S.p.A. (UG) on review for downgrade as the country faces a financial crisis following the election of a Eurosceptic coalition government. The announcement follows Moody's decision to place the Italian government's Baa2 debt rating under review for ... Read the full article

Allianz Group to purchase 8% stake in Africa Re

30th May 2018

Allianz Group has entered into an agreement to acquire an 8% stake in African Reinsurance Corporation (Africa Re) for a total cash consideration of USD 81 million. The transaction will make Allianz one of the largest shareholders in Africa Re, and will enable both companies to jointly promote insurance penetration in ... Read the full article

Allianz enters Portugese insurance distribution agreement with CaixaBank

10th May 2018

Allianz Group has entered an agreement with CaixaBank to sell its 8.4% stake in Portugese investment bank Banco BPI in return for a reorganisation of the terms of insurance distribution cooperation in Portugal. The total purchase price of the share transaction is €178 million, or €1.45 per Banco BPI share, and ... Read the full article

Allianz expands climate strategy with long-term carbon reduction goals

9th May 2018

Allianz Group has significantly expanded its climate strategy with plans to immediately withdraw from re/insuring coal-based power plants and mines, and long-term goals to phase out its investments in coal-based business and re/insurance coverage of related risks by 2040. The Group also plans to support the long-term development of a low-carbon ... Read the full article

Allianz to squeeze-out and delist remaining Euler Hermes shares

25th April 2018

Allianz has announced that it will complete its acquisition of Euler Hermes minorities by implementing a squeeze-out of remaining shares, after which it will delist the company from the Euronext Paris stock exchange. The squeeze-out, which was first announced in February, is scheduled for April 27th, 2018, and will see ... Read the full article

Allianz X & Tencent Holdings co-lead mobile bank platform N26 funding round

22nd March 2018

Allianz X and Tencent Holdings have co-led European mobile bank N26's $160 million series C funding round, and have joined its Board of Directors alongside other notable investors. The funding will be used primarily for N26’s overall growth strategy and international expansion, particularly throughout the U.S. and UK. Solmaz Altin, Chief Digital Officer ... Read the full article

Allianz Africa hires Arthur Yao from Swiss Re as CUO & Reinsurance Officer

14th March 2018

Allianz Africa Financial Services has named former Swiss Re Acting Head of West Africa Arthur Yao as Chief Underwriting and Reinsurance Officer, with effect from September 1st 2018. In his new role at Allianz Africa Yao will be responsible for direct underwriting and reinsurance strategies across all lines of business in ... Read the full article

Allianz appoints Iván de la Sota to Board of Management

12th March 2018

The Supervisory Board of Allianz SE has announced that Iván de la Sota is to join the company’s new Board of Management division, and will assume the role of Chief Business Transformation Officer. The division will help Allianz exploit the growing demand for digital insurance and investment solutions, and de la ... Read the full article

Allianz to buy remaining 5% of Euler Hermes shares in squeeze-out

23rd February 2018

Allianz has revealed plans to initiate a squeeze-out and delisting of Euler Hermes' remaining 5% of market float share capital and voting rights, in a move that will see the insurer complete plans for 100% ownership of the global trade credit insurer. Allianz intends to file a tender offer in coming ... Read the full article

Allianz results dented by 2017 catastrophes

16th February 2018

Insurance giant Allianz's fourth-quarter and full-year 2017 results have been dented by the impacts of major catastrophe events, including the California wildfires, hurricanes Harvey, Irma and Maria, as well as European windstorms and other events. Natural catastrophe losses rose to EUR 1.1 billion for the insurer in 2017, up from EUR ... Read the full article

Allianz grows Euler Hermes shareholding to 92.43%

15th February 2018

Allianz Group has increased its shareholding in credit insurer Euler Hermes to 92.43% after acquiring an additional 29.43% of Euler Hermes' share capital in a total investment of about €1.5 billion. The insurance giant announced last year that it was looking to gain 100% ownership of Euler Hermes, and filed Read the full article

Could SoftBank investment fund Swiss Re / XL deal? – KBW

14th February 2018

Following news that global reinsurer Swiss Re is in talks with SoftBank over a minority investment in the reinsurer, and rumours that XL Group is an M&A target for large re/insurers, analysts at Keefe, Bruyette & Woods (KBW) have questioned the potential for a deal between Swiss Re and XL ... Read the full article

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