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.

Tewes-Kampelmann to succeed Ahmed as CEO of Allianz Re

9th April 2021

Allianz SE Reinsurance (Allianz Re), the reinsurance arm of the global insurance carrier, has announced that Holger Tewes-Kampelmann will succeed Amer Ahmed as its Chief Executive Officer (CEO), effective May 1st, 2021. Ahmed, who is leaving the role to pursue new responsibilities outside of the Group, joined Allianz Global Corporate and ... Read the full article

Allianz considering offer for The Hartford after Chubb rejection: reports

29th March 2021

German re/insurer Allianz is exploring an offer for The Hartford, after the U.S. property and casualty insurer rejected a recent offer from Chubb, according to Bloomberg reports. Bloomberg, citing people familiar the matter, reports that Allianz is discussing options with potential advisers and views The Hartford as one of the remaining ... Read the full article

Allianz & SiriusPoint invest in $118m round for Pie Insurance

26th March 2021

Pie Insurance, an insurtech specializing in workers' comp insurance for small businesses, has raised $118 million in a Series C funding round led by Allianz X and Acrew Capital. Also participating in the round were existing investors SiriusPoint, Greycroft, SVB Capital, Elefund, and Moxley Holdings. The investment is expected to help Pie ... Read the full article

Aviva sells Polish arm to Allianz for €2.5bn

26th March 2021

London-headquartered insurer Aviva has reached an agreement with Allianz to sell its entire shareholding in Aviva Poland for €2.5 billion in cash. The deal, which values the Polish business at €2.5 billion, follows the sale of Italian P&C unit Aviva Italia S.p.A. to Allianz for €330 million earlier this month. In ... Read the full article

Allianz warns industry of climate compliance challenges

25th March 2021

Analysts at Allianz have warned that actions to address climate change pose significant operational and compliance challenges for re/insurance companies, with growing scrutiny for those that over-promise or lag behind. Although the pandemic caused re/insurers and governments alike to shift their priorities over 2020, Allianz believes that the issue will move ... Read the full article

Major re/insurance players commit $2mn to Oasis Loss Modelling Framework

23rd March 2021

A number of the world’s biggest players in re/insurance have committed additional funds to support the development of open source catastrophe modelling platform Oasis. Companies include Aon, Allianz, AXA, Chubb, Guy Carpenter, Hannover Re, Lloyd’s, RenaissanceRe, Swiss Re, SCOR, Willis Re and the Insurance Development Forum. The supporting international re/insurers and brokers ... Read the full article

Allianz Life makes Jasmine Jirele president and CEO

17th March 2021

Allianz Life Insurance Company of North America (Allianz Life), has appointed Jasmine Jirele as president and CEO of Allianz Life, succeeding President and CEO Walter White, who will retire at the end of this year. Jirele’s leadership experience spans strategy, product innovation, marketing, operations, and digital and experience management. She has served ... Read the full article

Allianz to acquire the Italian P/C entity of Aviva

4th March 2021

Global insurer Allianz is set to acquire Aviva Italia S.p.A., the Italian P/C entity of Aviva Group, for €330 million. Aviva expects to use the increased capital and cash to support its previously announced capital framework of debt reduction, investment for long-term growth and return of excess capital to shareholders. The portfolio ... Read the full article

Munich Re, AGCS & Google Cloud partner on cyber insurance solution

2nd March 2021

Munich Re, Allianz Global Corporate and Specialty (AGCS) and Google Cloud have announced a collaboration designed to provide customers with increased cloud security and potentially bring down costs. The Risk Protection Program builds on Google Cloud's engineered-in security toolset and consists of two parts. First, a diagnostic tool called Risk Manager enables ... Read the full article

AGCS hires Michael Furtschegger as Global Head of Entertainment

25th February 2021

Allianz Global Corporate & Specialty (AGCS), Allianz Group’s specialist carrier for corporate insurance business, has appointed Michael Furtschegger as Global Head of Entertainment. He will be based in Munich and report to AGCS SE Board Member and Chief Underwriting Officer Specialty Renate Strasser. The AGCS Entertainment line of business provides specialised insurance ... Read the full article

Allianz reports 14% dip in net income; €1.3bn COVID-19 impact for 2020

19th February 2021

Global re/insurer Allianz has reported operating profit of €10.8 billion for 2020 and net income of €6.8 billion, which includes a negative COVID-19 impact of €1.3 billion for the period. Operating profit fell by more than 9% year-on-year, driven mostly by the adverse impacts from the ongoing COVID-19 pandemic. As a result ... Read the full article

Pandemic-related risks front and centre for corporates in 2021: Allianz

20th January 2021

The 10th annual Allianz Risk Barometer reveals that exposures related to the ongoing COVID-19 pandemic are considered the top business risks in 2021, with business interruption (BI) taking the top spot for the eighth time. A significant 41% of responses see BI as the top risk to business in 2021, followed ... Read the full article

Jeremy Sharpe to lead AGCS Global Distribution unit

9th December 2020

Allianz Group’s specialist carrier for corporate insurance business, Allianz Global Corporate & Specialty (AGCS), has appointed Jeremy Sharpe to lead its Global Distribution unit, succeeding Patrick Thiels. Thiels will now lead its Mediterranean & Africa region, succeeding the current Regional Managing Director, Corinne Cipière who has been appointed to a Board ... Read the full article

Allianz to acquire Westpac’s GI business for AUD 725m

2nd December 2020

Global insurer Allianz has reached an agreement to acquire the general insurance (GI) business of Australian bank and financial services provider, Westpac, for AUD 725 million (approx. USD 535 million). As part of the arrangement, Allianz and Westpac have entered into a new 20-year exclusive agreement for the distribution of general ... Read the full article

Allianz sees net income rise 6% in Q3

6th November 2020

Global insurer Allianz has reported a net income of €2.1 billion for the third quarter, up an impressive 5.9% from the prior year period. This elevated net income was due to a higher non-operating investment result and was partly offset by higher restructuring and integration expenses. Total revenues decreased 6.1% to €31.4 ... Read the full article

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