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 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

Structured Alpha investigation could impact future Allianz results

2nd August 2021

Global insurer Allianz has warned that an ongoing investigation by the US Department of Justice (DOJ) into the Structured Alpha Funds of its Allianz Global Investors could “materially impact future financial results” of the group. The US Securities and Exchange Commission (SEC) launched an investigation into the Structured Alpha Funds in ... Read the full article

Allianz upgrades functions on Claims Hub

29th July 2021

Global insurer Allianz has added present position trackers to its Claims Hub, allowing brokers to get live status updates on five key aspects of motor claims. The digital platform pulls information from the system so that brokers can have the latest on policy cover, liability, vehicle, third party and recovery. This new ... Read the full article

Insured losses from Germany floods rise to an estimated €4.5-5.5bn, says GDV

27th July 2021

The German Insurance Association (GDV) has updated its insurance and reinsurance industry loss estimate for the recent flooding that devastated parts of the country to between €4.5 billion and €5.5 billion, of which around two-thirds are for damages in Rhineland-Palatinate. Over July 13th to 18th, major flooding impacted parts of Central ... Read the full article

Allianz announces launch of Global Commercial insurance division

22nd July 2021

Global re/insurer and asset manager, Allianz Group, has unveiled its new Global Commercial insurance division established under Chris Townsend, Member of the Allianz SE Board of Management, enabling a dedicated focus on the property and casualty (P&C) commercial space. Allianz says that its new Global Commercial Group Center represents a significant ... Read the full article

Ian Kershaw takes Head of Motor Claims role at Allianz Insurance

6th July 2021

Allianz Insurance has announced the appointment of Ian Kershaw as Head of Motor Claims, effective July 5th. A qualified solicitor, Ian Kershaw spent 15 years with Parabis Group, managing its defendant outsource services and heading its claimant law firm division. After leading transformation at Parabis as a partner and operations director, Ian ... Read the full article

Allianz Capital to acquire 10% stake in ATC Europe

17th June 2021

Allianz Capital Partners is set to acquire a 10% stake in ATC Europe, one of the continent’s leading independent telecommunications tower operators, in a deal estimated to be valued at over €530 million. This investment is the latest in a long-term strategic partnership between global insurer Allianz and American Tower, a ... Read the full article

Aviva’s Colm Holmes to succeed Dye as Allianz UK CEO

26th May 2021

Allianz Holdings plc, the non-regulated holding company which owns the principal insurance operations of Allianz SE in Great Britain, has announced the appointment of Colm Holmes as its next Chief Executive Officer (CEO). Holmes, who currently serves as CEO of Aviva General Insurance, will take over the role from outgoing CEO ... Read the full article