Reinsurance News
Allianz news
News about Allianz, one of the largest global insurance and reinsurance groups.
Also news about Allianz Global Corporate & Specialty, the Allianz specialist unit that underwrites commercial insurance exposures and alternative risk transfer.
Allianz books additional provision of €1.9bn for Structured Alpha funds
11th May 2022
Allianz SE has booked an additional provision for its Structured Alpha Funds of €1.9bn in Q1 2022 before tax. The company said that the provision will ‘negatively impact’ the Q1 group net income by €1.6bn after tax. This will result, said Allianz, in a net income attributable to shareholders of €0.6bn. ... Read the full article
Allianz and Sanlam announce joint venture
9th May 2022
Allianz has announced a joint venture with African financial services firm Sanlam. According to the two firms, the joint venture will create the largest financial services company on the African continent. The joint venture will house the business units of both Sanlam and Allianz in 29 African countries where one or ... Read the full article
Allianz reinforces commitment to net zero
29th April 2022
Allianz Group has shifted its goal to reach net zero from 2050 to 2030 and committed to no longer investing or underwriting in oil and certain gas risks. The firm also said that it will require a robust ‘net zero by 2050’ commitment from the largest hydrocarbon producers before granting coverage ... Read the full article
Allianz adds two non-exec directors to its management board
27th April 2022
Global insurer Allianz has announced the appointments of Teresa Robson-Capps and José Vazquez, who will join the company’s management board as independent non-executive directors (NED). The appointments, which are both subject to regulatory approval, are part of a planned transition strategy, as current board member Rosanne Murison is due to reach ... Read the full article
Allianz will have €150m of losses from Russia exposures: Berenberg
20th April 2022
Ahead of Q1 2022 reporting season, Berenberg has said that it estimates that global insurer Allianz will have €150 million of total losses from its various Russia exposures. The firm said that it believes that Allianz will impair its €1.5bn cross-border investments in Russia in Q1 2022E, and also take a ... Read the full article
Allianz shows resilience in extraordinary circumstances: Jefferies
13th April 2022
Ahead of Allianz’s 1Q22 results, analysts at Jefferies have weighed up the possible impacts from natural catastrophes, financial market volatility and the ongoing Russia – Ukraine crisis. Analysts stated that non-life exposure to natural catastrophes remains manageable. In 1Q22, the largest insured natural catastrophe events worldwide included European storms ($3bn-$6bn,), Australian floods ... Read the full article
Allianz latest to rule out insuring East African Crude Oil Pipeline
11th April 2022
Allianz has become the seventh insurer to commit to not providing coverage to the East African Crude Oil Pipeline (EACOP). The pressure group #StopEACOP says that the insurer has sent it an email to confirm that they will not be ‘providing direct insurance’ to the project since ‘it neither meets our ... Read the full article
Allianz & Swiss Re place first legally bound Cat XoL reinsurance DLT-contract, enabled by B3i
6th April 2022
Global insurer Allianz and Swiss Re, an international reinsurance company, have successfully placed the world's first legally bound catastrophe excess-of-loss (XoL) reinsurance contract on distributed ledger technology (DLT), enabled by B3i Re's live production network. The industry-led blockchain initiative, B3i, has been developing and enhancing its platform and solutions for some ... Read the full article
Allianz Benelux implements Munich Re’s ALLFINANZ
5th April 2022
Allianz Benelux, a member of the Allianz Group, has implemented Munich Re’s ALLFINANZ suite of products, where the partnership will enable Allianz to speed up the life insurance underwriting journey for Dutch applicants. ALLFINANZ will provide Allianz with complete end-to-end capabilities across automated underwriting and advanced analytics. The ALLFINANZ suite of products ... Read the full article
Allianz’s Günther Thallinger joins new UN advisory council on climate action
1st April 2022
Allianz board member Günther Thallinger has joined the UN’s new advisory council on accelerating climate action. A statement from the insurance giant said that Thallinger has become one of sixteen experts on the High-Level Expert Group on the Net-Zero Emissions Commitments of Non-State Entities (HLEG). HLEG will report directly to the ... Read the full article
Allianz renames Euler Hermes to Allianz Trade
29th March 2022
Global insurance carrier Allianz has renamed trade credit insurer, Euler Hermes to Allianz Trade, effective immediately. Allianz Group purchased the trade credit specialist in 2018. The company said: “We are the world leader in trade credit insurance, operate in 52 countries and count over 5,500 employees. Changing our brand name to Allianz ... Read the full article
Berenberg expects Q1 2022 to be millions over budget for Allianz
17th March 2022
Berenberg has said it expects Q1 2022 for Allianz to be €600m over budget. The firm said it based this analysis on natural catastrophe losses arising from European storms and floods in Australia, which it said were around €300m above the normal run rate. In addition, it calculated €300m worth of ... Read the full article
Allianz grows aggregate reinsurance and lifts catastrophe budget for 2022
21st February 2022
Global insurance carrier Allianz has expanded its aggregate reinsurance protection for 2022 and also raised its catastrophe budget for the year, after the company experienced a particularly high burden from nat cat losses in 2021. Allianz's recently published full year 2021 financial results show that the insurer recorded net natural ... Read the full article
Burning car carrier Felicity Ace could be $500m cargo loss, says Skytek
18th February 2022
The fire that emerged on the Felicity Ace cargo ship, which was loaded with luxury cars as it departed Germany for the U.S. on February 9th, could result in a loss for the marine re/insurance market of as much as $500 million, reports Skytek. A fire broke out in one of ... Read the full article
Allianz strengthens CR but income falls on €3.7bn Structured Alpha charge
18th February 2022
German insurer Allianz has reported a 2.9% dip in net income for 2021 to €6.6 billion as the group-wide performance included a €3.7 billion charge related to the Structured Alpha Funds, which reduced income for the year by €2.8 billion. For the fourth quarter of 2021, Allianz has fallen to a ... Read the full article
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