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’ Q1 net income falls 29% off COVID-19 P&C impacts
12th May 2020
Global insurer Allianz saw its net income fall 28.9% to €1.4 billion in the first quarter, driven primarily by the impact of coronavirus on its property and casualty segment. Higher claims from natural catastrophes, as well as coronavirus-related losses, drove P&C operating profit down 29.1% to €1 billion against the prior ... Read the full article
Allianz withdraws 2020 guidance, expects Q1 profit dip
1st May 2020
Allianz is the latest global insurer and reinsurer to withdraw its operating profit target for 2020 as the COVID-19 coronavirus pandemic continues to drive widespread uncertainty and financial market volatility. As a result of the uncertain macroeconomic outlook being caused by the virus outbreak and the now available updated financial plans ... Read the full article
Allianz sets up bancassurance venture in Spain with BBVA
28th April 2020
Allianz has announced that it plans to set up a bancassurance joint venture in Spain with Banco Bilbao Vizcaya Argentaria (BBVA) that will allow it to distribute its property and casualty insurance products through BBVA’s network. The French insurer will acquire 50% plus 1 share in the joint venture for €277 ... Read the full article
COVID-19 heightens risk for cargo shippers, transportation firms: Allianz
23rd April 2020
A report by global insurer Allianz has underlined the impact coronavirus-related lockdown measures could have on cargo shippers and transportation companies, as supply chains continue to face prolonged disruption. Allianz notes how the growing number of locked down and unmanned facilities means not only a greater risk of theft and fire ... Read the full article
COVID-19 insured losses are going to be massive, says Allianz CEO
17th April 2020
Oliver Bäte, the Chief Executive Officer (CEO) of global insurer and reinsurer Allianz, has said in an interview with Bloomberg Television that while the company itself doesn't have large exposures, for the industry, losses from the COVID-19 coronavirus pandemic are going to be massive. The unprecedented changes and challenges created by ... Read the full article
Allianz Partners add Vinay Surana as CEO, Asia Pacific
17th April 2020
Allianz Partners has announced the appointment of Vinay Surana as Regional Chief Executive Officer, Asia Pacific. Based in Singapore, Surana will lead the Asia Pacific business with responsibility for Australasia, China, Japan, India and South East Asia. He reports directly to Dan Assouline, Global Head of Markets and Board Member, Allianz Partners. Surana ... Read the full article
Ali Shahkarami named Chief Data Officer, Allianz (AGCS)
31st March 2020
Allianz Global Corporate & Specialty (AGCS), a division of global re/insurer Allianz, is looking to develop a 'data first' decision making culture with the appointment of Ali Shahkarami as Chief Data Officer, a newly created position. His appointment is effective April 1st, 2020 and sees Shahkarami take responsibility for the development ... Read the full article
Allianz ART adds AXIS Re’s Kiernan to lead North America reinsurance
23rd March 2020
Former Chief Underwriting Officer and president of AXIS Re in Bermuda, Peter Kiernan, has joined Allianz Global Corporate & Specialty as head of reinsurance North America for its Alternative Risk Transfer division. Kiernan brings over 13 years’ experience to the role and will remain working out of Bermuda. His departure from AXIS ... Read the full article
Allianz board member Axel Theis to retire, successor named
24th February 2020
Axel Theis, Allianz SE’s member of the board responsible for insurance in German speaking countries and Central and Eastern Europe is set to retire on March 1 after 33 years with the company. Klaus-Peter Röhler, currently chairman of the board of management of Allianz Deutschland AG and Allianz Versicherungs-AG, has been ... Read the full article
AGCS reserve strengthening stunts Allianz’ P&C performance
21st February 2020
Global insurer Allianz has seen its property and casualty segment full year results negatively impacted following €600 million of reserve strengthening within Allianz Global Corporate & Specialty SE (AGCS). AGCS was also afflicted by lower operating investment income, although this was partly compensated by an improved expense ratio. As a result, the ... Read the full article
Allianz promotes Margo Young to Chief Compliance Officer
27th January 2020
Global insurer Allianz has promoted Margo Young to the role of Chief Compliance Officer, replacing the recently-retired Ann Alexander. Young has been with Allianz’ compliance team since 2003 and most recently served as deputy to Alexander. In her role as deputy CCO she supported the transfer of Allianz’s home and personal motor ... Read the full article
Swiss Re adds Allianz’ Youngran Kim as group CTO
23rd January 2020
Global reinsurer Swiss Re has appointed Youngran Kim to the role of group Chief Technology Officer, a newly created position. Kim joins from Allianz Asia Pacific, where she has served as regional Chief Information Officer for the past two years. The appointment, based in Zurich, is effective April 1. Prior to Allianz, she ... Read the full article
Allianz’ AGCS unit adds Henning Haagen as specialty CUO
23rd January 2020
Allianz Global Corporate & Specialty SE (AGCS), the corporate insurance carrier of Allianz, has appointed Henning Haagen as Chief Underwriting Officer Specialty. Effective March 1, Haagen will succeed Paul O’Neill and serve as a member of the board of management. He brings over 20 years’ experience to the role and will take ... Read the full article
Allianz aims to double net zero asset commitments, says CEO at Davos
21st January 2020
Oliver Bäte, the Chief Executive Officer (CEO) of global insurer and reinsurer Allianz, has said that through meetings with various investors at the World Economic Forum (WEF) in Davos, the firm is looking to get a doubling of the commitments made under the Net-Zero Asset Owner Alliance. The Net-Zero Asset Owner ... Read the full article
Cyber tops Allianz’ 2020 risk survey
17th January 2020
For the first time ever, Cyber incidents ranked as the most important business risk globally in the ninth Allianz Risk Barometer 2020. Cyber risk was selected by 39% of respondents, overtaking Business interruption, which was chosen by 37%. Awareness of the cyber threat has grown rapidly in recent years, driven by companies ... Read the full article