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.

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

Defective product risk among biggest perils to business: Allianz

11th December 2017

Tougher regulation, global supply chains, materials from fewer suppliers and consumer awareness are contributing to a rise in recalls making defective product risk an increasing peril for companies, according to Allianz Global Corporate & Specialty (AGCS) report. While the average cost of significant recall is $12 million, "ripple effect" events can ... Read the full article

AGCS boosts UK cyber division with two appointments

1st December 2017

Allianz Global Corporate & Specialty (AGCS), a division of global insurer Allianz, has announced the promotion of Yogesh Virji to lead its UK Cyber division and the appointment of Hui Yu as a Senior Underwriter, within the UK Cyber team. Virji was previously Underwriting Manager for Financial Lines at AGCS, and ... Read the full article

Allianz seeks 100% ownership of Euler Hermes

27th November 2017

Insurance giant Allianz has made an offer to acquire the remaining shares of trade-credit insurer Euler Hermes, as it seeks to take control of the company. Allianz has already secured the purchase of an additional 11.34% of Euler Hermes share capital, taking its ownership to 74.34% of Euler Hermes share capital ... Read the full article

AGCS expands in China & Indonesia

22nd November 2017

Allianz Global Corporate & Specialty (AGCS), a division of global insurer and reinsurer Allianz, has expanded its presence in China and Indonesia as it looks to take advantage of opportunities from growing regional insurance markets. AGCS has announced that it's started operations in Beijing, China, as a division of Allianz China's ... Read the full article

Schiavone succeeds Guffey as head of Alternative Risk Transfer, Allianz

21st November 2017

Paul Schiavone has been appointed to Global Head of Alternative Risk Transfer (ART) business at Allianz, set to replace Bill Guffey who is leaving the firm. Based in New York, Schiavone will head up ART's tailor-made solutions development for corporate, industrial and financial clients facing unusual or complex risks, including specialty insurance fronting ... Read the full article

Allianz’s captive insurance blockchain prototype shows efficiency potential

7th November 2017

Allianz Risk Transfer (ART), a division of Allianz Global Corporate & Specialty (AGCS), which is part of global insurer Allianz, has created and successfully implemented a blockchain prototype solution for a global captive insurance program of an existing ART client. ART collaborated with Ernst & Young (EY) as blockchain advisory service ... Read the full article

China Life acquires Allianz Taiwan life portfolio

20th October 2017

Allianz Taiwan Life Insurance has reached an agreement to sell part of its traditional life insurance portfolio to China Life Insurance, as the firm pursues a strategy to actively manage its Taiwan life portfolio for more capital-efficient solutions. The transaction includes a portfolio of approximately 78,000 policies with a guaranteed interest ... Read the full article