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Reinsurance News


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

XL Group cited as M&A target for large re/insurers: Reports

8th February 2018

According to Bloomberg, XL Group the Bermudian parent company of global insurance and reinsurance brand XL Catlin, is a target for M&A, with Allianz and other major re/insurers said to be showing interest. XL Group is perhaps the largest Bermudian re/insurer and its global diversification makes it an attractive target for ... Read the full article

Cisco, Apple, Aon, & Allianz introduce new cyber cover for businesses

6th February 2018

Cisco, Apple, Aon and Allianz have collaborated to launch a new cyber risk management solution for businesses which combines cyber resilience evaluation services from Aon, the most secure technology from Cisco and Apple, and options for enhanced cyber insurance cover from Allianz. The new solution is designed to improve firms' management ... Read the full article

BI, cyber & larger nat cat losses top global business risks in 2018: Allianz

19th January 2018

Business interruption (BI), cyber incidents and larger losses from natural catastrophe events are the top three business risks globally in 2018, according to the latest Allianz Risk Barometer. The Allianz 2018 Risk Barometer, which includes responses from over 1,900 risk experts from 80 countries, ranks BI as the number one business ... Read the full article

Allianz Global Corporate & Specialty SE appoints Lars Vissing to Regional Head of Claims

11th January 2018

Allianz Global Corporate & Specialty SE (AGCS) has appointed Lars Vissing as Regional Head of Claims set to succeed Martin Henson who will retire from the position in February 2018 after nearly 20 years with Allianz. Based in London and Copenhagen, Vissing will lead AGCS’ claims team in the UK, Ireland, ... Read the full article

Munich Re’s Ergo sells legal insurance subsidiaries to Allianz

10th January 2018

German insurance and reinsurance group Munich Re has sold three of its ERGO Group operated legal insurance subsidiaries to Allianz Group. ERGO Group AG has sold its legal protection insurance subsidiary DAS Switzerland and the assets of DAS Luxembourg and Slovakia to Allianz, as it seeks to rationalise its primary insurance ... Read the full article

Allianz files tender offer for Euler Hermes shares

2nd January 2018

Allianz has filed a tender offer for outstanding shares in trade credit insurer Euler Hermes in a EUR122-per-share bid with French markets regulator AMF. On approval, Allianz’s simplified cash tender offer is to open in early 2018, offering shareholders a 20.7% premium to the pre-announcement closing price on November 24, 2017 ... Read the full article

Enstar to reinsure $100 million of Allianz legacy business

29th December 2017

An Enstar Group subsidiary has entered into an agreement to reinsure about $100 million, or 50%, of Allianz SE's legacy business portfolio with effect from December 31, 2017. The subsidiary will assume net reinsurance reserves of approximately $0.1 billion in order to reinsure 50% of certain U.S. workers' compensation and asbestos, ... Read the full article

Allianz becomes microinsurer BIMA’s largest shareholder with $96.6mn investment

28th December 2017

Allianz has become digital microinsurer BIMA's largest strategic shareholder and sole insurance shareholder after investing $96.6 million in a transaction that's expected to strengthen the re/insurers position in emerging markets. BIMA’s award-winning micro-insurance tech platform is designed to provide low-income families with access to insurance products across 14 emerging markets, using mobile ... Read the full article

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