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 SE announces key changes to its management board structure
7th October 2022
Allianz SE has announced significant changes that are being made to its divisional setup from the beginning of 2023. The company has announced that the changes are being prompted by the readiness of the Allianz Customer Model (ACM) concept to be implemented directly within the respective global product and segment owners ... Read the full article
UniCredit & Allianz “unwind” Croatian shareholdings
3rd October 2022
Italy-based international banking group UniCredit says it has taken further steps to consolidate its partnership with German multinational financial services firm Allianz by “unwinding” their direct and indirect shareholdings in Croatia. To this end, UniCredit has agreed to purchase Allianz’s entire 11.72% stake in Croatian insurance company Zagrebačka banka dioničko društvo ... Read the full article
Focus should be on loss prevention to tackle risk of battery fires in shipping: Allianz
5th September 2022
With lithium-ion (Li-ion) batteries having an increasing impact on shipping safety, prevention measures are crucial to tackle the risk of battery fires in vessels, according to a new risk bulletin from marine insurer Allianz Global Corporate & Specialty (AGCS). An AGCS analysis of over 240,000 marine insurance industry claims over the ... Read the full article
Allianz Holdings appoints Alison Rayner to new role
26th August 2022
Allianz Holdings has appointed Alison Rayner to the newly created position of chief compliance and corporate affairs officer, effective from February 2023. In this role, she will be responsible for setting a clear strategy for the organisation in terms of compliance and conduct relating to customer, clients, reputation, assets, and the ... Read the full article
Allianz Trade in Asia Pacific appoints Regional Commercial Director
22nd August 2022
Allianz Trade in Asia Pacific has appointed Shan Aboo as Regional Commercial Director. Within this new role, he will be responsible for overseeing the trade credit insurer’s commercial activities in twelve Asia Pacific markets. Based in Singapore, Aboo will report to Regional CEO of Allianz Trade in Asia Pacific, Paul Flanagan. Prior to this appointment, ... Read the full article
Enstar files to shut down Enhanzed Re joint venture
19th August 2022
Legacy specialist Enstar is to shutter its Enhanzed Re joint venture, eliminating all catastrophe exposure. In a filing with the US Securities and Exchange Commission (SEC), the firm said it was transferring its share of the firm to Allianz. The filing reads: “On August 18, 2022, Cavello Bay, a wholly-owned subsidiary of ... Read the full article
Moody’s assesses Italian insurers after downgrading government outlook
11th August 2022
Following Moody’s change in outlook on the government of Italy (Baa3) to negative from stable, the agency has taken a number of rating actions on three Italian insurers and related subsidiaries. Generali’s A3 insurance financial strength rating (IFSR) was affirmed with a stable outlook; and a similar action was taken on ... Read the full article
Allianz sees improved P&C performance in H1 2022 as operating profit rises
5th August 2022
A strong performance within its property and casualty (P&C) business so far in 2022 has helped Allianz report a rise in operating profit for the first half of the year of 1.2% to €6.7 billion, while net income for the period dipped as a result of a provision booked in ... Read the full article
AXA tops list of largest EU insurers ranked by GPW
1st August 2022
When ranked by gross premiums written (GPW) in 2020, AXA tops the list of the largest European insurance companies with USD 115.3 billion. The insurer also recorded USD 80 billion of capital & surplus from 2020. Based on research data from ratings agency AM Best, our directory ... Read the full article
Allianz Commercial prevented £36.8m of insurance fraud in H1
1st August 2022
Allianz Commercial is reporting that it has prevented £36.8m worth of insurance fraud in the first six months of the year, with marked increases in the property and casualty sectors. In a statement, the firm said that the fraud detected in H1 2022 is a 23% increase over the same period ... Read the full article
Allianz and Voya complete transfer to integrate assets and teams
26th July 2022
Voya has announced that it has completed its previously announced transfer of certain assets and teams comprising the substantial majority of Allianz Global Investors’ (AGI) US business to Voya Investment Manager – the asset management business of Voya Financial. In a press release, it states that specifically, Voya IM has ... Read the full article
Allianz Claims appoints two new directors
26th July 2022
Allianz Commercial has promoted Margaret Scott as director of claims strategy and customer experience, and Lee Watts as director of technical claims. Both will continue leading their current teams and report to chief claims officer Graham Gibson. As head of claims strategy and customer experience, Margaret has led transformation ... Read the full article
Ashish Patel named COO at Allianz
20th July 2022
Allianz Holdings has announced the appointment of Ashish Patel to the position of Chief Operating Officer (COO), effective from July 2022. In his new role, Patel will have responsibility for overseeing operations and technology. He will also join the Allianz Holdings Executive Committee. Patel has worked for the Allianz Group for nine ... Read the full article
Reinstatement of COVID BI case has potential to set a ‘worrying precedent’
19th July 2022
The recent ruling by a California court of appeal to reverse a lower court's dismissal and reinstate a COVID-19 related business interruption (BI) lawsuit filed against a division of global insurer Allianz, has the potential to set a "worrying precedent", according to analysts at Jefferies. Last week, Division Seven of California's ... Read the full article
ICEYE’s satellite data being explored for flood risk transfer project in Ghana
15th July 2022
World-leading provider of natural catastrophe data and satellite data – ICEYE, has announced that its satellite data and imagery will be explored to provide the inputs to support the parametric insurance trigger for a recently announced UNDP backed project in Ghana. It was recently announced that Allianz and Swiss Re ... Read the full article
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