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 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
Allianz partners with Zeguro to offer clients cyber risk guidance
4th October 2017
Allianz Group's specialist corporate insurer, Allianz Global Corporate & Specialty (AGCS), has formed a partnership with software firm Zeguro, in which Zeguro will act as Chief Information Security Officer (CISO), using its platform to provide Allianz clients with guidance on cyber risk. These cyber exposure management and mitigation strategies will initially be ... Read the full article
David Warfel named Head of Aviation, NA, AGCS
29th September 2017
The international specialist corporate insurance arm of insurer Allianz, Allianz Global Corporate & Specialty (AGCS), has announced that David Warfel will replace Mike Hansen as Head of Aviation, North America, effective October 1st, 2017. Warfel previously held the position of Head of Major Risks for Aviation at Allianz, a position he ... Read the full article
AGCS & Cyence partner to boost insurer’s cyber capabilities & develop new model
28th September 2017
Allianz Global Corporate & Specialty (AGCS), a division of global insurer Allianz, has teamed up with Cyence in order to bolster its international cyber risk analysis capabilities. Under the new partnership, Cyence, a cyber risk analytics and modelling company, will combine its cyber analytics platform with AGCS' underwriting processes, ultimately enabling ... Read the full article
AGCS launches digital distribution platform for small commercial businesses
22nd September 2017
Allianz Global Corporate & Specialty (AGCS), the corporate insurance arm of Allianz, has launched a new online distribution platform, called AllianzGo for small commercial businesses in the U.S. market. The new, innovative platform provides brokers with the ability to rate, quote, issue and service the accounts for small commercial businesses online, ... Read the full article
Allianz appoints new CEOs to Allianz DE & Allianz Italia
19th September 2017
The Supervisory Board of Allianz Deutschland AG has appointed Dr. Klaus-Peter Röhler to Chairman of the Management Board (CEO) and successor to Dr. Manfred Knof, who is stepping down from the position and will take time off for health reasons. Since 2014 Röhler has been CEO of Allianz Italia SpA, a post ... Read the full article
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