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 China unit given regulatory go-ahead

26th November 2018

Insurance giant Allianz has received approval from the China Banking and Insurance Regulatory Commission for the preparatory establishment of an insurance holding company in China. Based in Shanghai, Allianz (China) Insurance Holding Company Limited will be the country’s first ever insurance company wholly owned by a foreign insurer. Allianz says the holding ... Read the full article

Allianz Life forms start-up accelerator with Securian Financial and gener8tor

16th November 2018

Allianz Life Ventures, part of Allianz Life Insurance Company of North America, has partnered with Securian Financial and start-up accelerator gener8tor to form the OnRamp Insurance Accelerator program, which will invest in new tech start-ups in the re/insurance industry. Based in Minneapolis, the initiative will provide a cash investment of $100,000, ... Read the full article

Allianz subsidiary in contingent BI agreement with Just Energy Group

16th October 2018

Interstate Fire & Casualty Company (IFCC), a subsidiary of Allianz Global Corporate & Specialty SE (AGCS), has entered into a multi-year contingent business interruption insurance agreement with Just Energy Group Inc. Just Energy Group, a consumer company that specialises in electricity and natural gas commodities, energy efficient solutions and renewable energy options, ... Read the full article

Allianz names Bart Schlatmann CEO of European direct business

31st August 2018

Insurance giant Allianz has named Bart Schlatmann as Chief Executive Officer (CEO) of its European direct business, effective September 1. Schlatmann, who brings over 20 years’ experience to the role, will lead the consolidation process for Allianz’ European direct business; including the establishment of a new pan-European risk carrier for the ... Read the full article

Allianz hires new CFO Fernley Dyson from Ageas

22nd August 2018

Allianz Insurance has announced the appointment of Fernley Dyson, current Chief Financial Officer (CFO) at Ageas, as its new CFO, effective 1 January 2019. Dyson will replace outgoing CFO Mark Churchlow, who is retiring after almost 30 years with Allianz. Churchlow has served as CFO since 2010, before which he was ... Read the full article

Genoa bridge collapse to cost insurers up to $685 million: J.P. Morgan

20th August 2018

Analysts at J.P. Morgan have estimated that the Genoa bridge collapse will result in an insurance industry loss of up to €600 million (US$685 million), driven primarily by property damage and business interruption (BI) losses. Amid extremely heavy rainfall, a 200m section of the Morandi bridge, which is the main road ... Read the full article

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