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 reports strongest Q3 despite higher nat cat experience
10th November 2021
Global insurer Allianz has reported its strongest ever third quarter performance in 2021, as total revenues and operating profit increased, year-on-year, driven by a solid performance in all business segments. Allianz has announced Q3 total revenue growth of 9.5% to €34.4 billion, alongside an 11.3% rise in operating profit to €3.2 ... Read the full article
Allianz Insurance adds Chris Varley as Chief Analytics Officer
9th November 2021
Allianz Insurance has added Chris Varley as Chief Analytics Officer, a newly created position effective from March 2022. Varley will be responsible for increasing data and pricing capabilities while creating a distinct analytics strategy across the organisation. He joins from Willis Towers Watson, having served as a senior director in a role ... Read the full article
Allianz promotes Anusha Thavarajah to lead Asia Pacific as CEO
5th November 2021
Global insurer Allianz has appointed Anusha Thavarajah to lead its Asia Pacific operations as regional Chief Executive Officer, succeeding Solmaz Altin, who has decided to part ways with the company after 13 years’ of service. In her new role, Thavarajah will be responsible for delivering Allianz Asia Pacific’s long-term growth strategy ... Read the full article
Allianz raises European flood loss to €1.1 billion
25th October 2021
Global insurer Allianz is now expecting gross losses of approximately €1.1 billion from the impacts of storm Bernd across Germany, Belgium, and the Netherlands in July. In early August, Allianz pegged its losses from the July flooding across parts of Europe at €900 million, of which it said roughly €500 ... Read the full article
AGCS’ ART division appoints Houlihan to lead Americas on permanent basis
22nd October 2021
Allianz Global Corporate & Specialty (AGCS) has named Thomas Houlihan as the firm's permanent regional head of Americas within its Alternative Risk Transfer (ART) division. Based in New York, he reports to Grant Maxwell, global head of ART. Houlihan has been serving in this role on an interim basis since May 2021 ... Read the full article
Allianz report highlights growing threat of ‘ransomware pandemic’
15th October 2021
An Allianz Global Corporate & Specialty (AGCS) report has identified a number of key trends in the ransomware space re/insurers should be aware of in order to protect itself from cyber criminals, including the recent development of ‘ransomware as a service’. AGCS’ report explains how ransomware as a service has made ... Read the full article
Allianz in P&C legacy transfer deal with Marco
13th October 2021
Allianz has entered into a deal with European P&C insurance run-off group Marco Capital Holdings Limited concerning the transfer of the remaining risks in Allianz Suisse’s UK Branch. The risks in Allianz Suisse’s UK Branch were underwritten by R.W. Gibbon and are therefore known as “The Gibbon Pool”. “I am pleased to ... Read the full article
Allianz announces new Board additions
1st October 2021
Allianz SE has announced a number of changes to its Board of Management, including the additions of new members, Andreas Wimmer and Sirma Boshnakova. Wimmer, who currently serves as CEO of Allianz Lebensversicherungs-AG, will succeed Jacqueline Hunt as head of the asset management division and Allianz Life in the US, effective ... Read the full article
Aviva completes sale of Italian business to Allianz
1st October 2021
Aviva has announced the completion of the sale of its Italian General Insurance business, Aviva Italia S.p.A., to Allianz for a cash consideration of €330 million. First announced in March, the portfolio is equally distributed between motor and non-motor business segments with gross written premiums of around €400 million. In total, nearly ... Read the full article
Resolution Re completes reinsurance deal with Allianz Suisse Life
30th September 2021
Resolution Life, a long-term legacy life insurance solutions provider, has announced that its Bermudian reinsurance platform, Resolution Re, has entered into a reinsurance agreement with Allianz Suisse Lebensversicherungs-Gesellschaft AG (Allianz Suisse). The deal transfers a quota share of 80% of the liabilities of Allianz Suisse’s Traditional Individual Life Business, made up ... Read the full article
Allianz exploring asset transfer amid Structured Alpha probe: reports
28th September 2021
Allianz is reportedly in discussions with Resolution Life regarding a potential transfer of a block of Swiss life insurance assets, in a move that could free up regulatory capital for the ongoing investigation into its asset management arm. Sources at Bloomberg say Allianz and Resolution have been working with advisors on ... Read the full article
Allianz Structured Alpha loss likely between €3.5-6.8bn: Berenberg
18th August 2021
Analysts at Berenberg have estimated that the ongoing investigation by the US Department of Justice (DOJ) into the Structured Alpha Funds of Allianz Global Investors could entail a base-case loss of around €3.5 billion, with the potential for a worst-case loss of €6.8 billion. Allianz has already acknowledged that the investigation ... Read the full article
Structured Alpha investigation could hurt Allianz’s future results, warns Moody’s
10th August 2021
According to Moody's, the US Department of Justice (DOJ) investigation of the Structured Alpha Funds managed by Allianz Global Investors US, Allianz’s asset management subsidiary, has raised a risk which could potentially affect the future financial results of the carrier. The US Securities and Exchange Commission (SEC) launched an investigation ... Read the full article
Allianz sees Q2 net income hit €2.2bn as P&C underwriting improves
6th August 2021
Global insurer Allianz has announced a 46% rise in net income for the second quarter of 2021 to €2.2 billion, driven by an increase in operating profit across all of its business segments when compared with the prior year period. Solid growth across the business in Q2 2021 has resulted in ... Read the full article
Allianz pegs gross loss from flooding in Europe at €900mn
6th August 2021
Global insurance carrier Allianz is expecting gross losses of approximately €900 million from the impacts of storm Bernd in Europe, of which it anticipates around €500 million will be covered by its reinsurance. Storm Bernd arrived in Central Europe in July and most of its damage came from flooding caused by ... Read the full article
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