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.
Lillelund to takeover as CEO of Allianz Global Corporate & Specialty in early 2025
16th September 2024
Allianz has revealed that Thomas Lillelund will be joining Allianz Global Corporate & Specialty SE (AGCS) as CEO in early 2025. He will also reportedly assume leadership of Allianz Commercial, Allianz Group’s integrated global model for serving the Commercial Property & Casualty insurance segment (Mid Corporate, Large Corporate and Specialty customers). Lillelund ... Read the full article
Allianz UK grows personal lines with Wright appointment as MD of home insurance
4th September 2024
Allianz UK has announced the addition of Graham Wright to its growing personal lines business, appointing him Managing Director of Home Insurance. Reporting to Serge Raffard, he will join the UK personal lines leadership team in December, and will work alongside Henry Topham, Managing Director, Retail and Nicola George, Managing Director, ... Read the full article
Aviation premiums to hit 20-year high in 2024: Allianz
14th August 2024
As the aviation industry recovers in 2023 after a challenging period, analysis from Allianz Commercial’s Aviation Risk, Claims and Insurance Outlook suggests that nearly 63% of claims were due to collision or crash incidents. Of the 32,000 industry claims from 2019 to 2024, totalling around $15 billion, Allianz found that approximately ... Read the full article
Allianz and Fortegra to serve as reinsurance providers for Jetty
13th August 2024
Global insurers Allianz and Fortegra have strategically partnered with Jetty, the fintech company, to provide reinsurance for all new policies written under its core products Jetty Deposit and Jetty Renters Insurance. Jetty, the US domiciled fintech company, works on making renting a home more affordable. The firm works with top property managers ... Read the full article
Allianz reports €3.9bn operating profit in Q2, driven by strong results in all segments
8th August 2024
In their results for the second quarter of 2024, Allianz has posted a €3.9 billion operating profit, with all of the company's segments contributing to this result, whilst the firm's property & casualty (P&C) segment business produced a strong underlying performance which largely offset the impact of elevated natural catastrophes. At ... Read the full article
Arch Insurance acquires Allianz’s US MidCorp and Entertainment insurance businesses
7th August 2024
Arch Insurance North America, part of Arch Capital Group Ltd., has announced its acquisition of Allianz’s U.S. MidCorp and Entertainment insurance businesses. This deal follows Arch Insurance obtaining regulatory approval on 25th July. Almost 500 former Allianz MidCorp and Entertainment employees have joined Arch, ensuring a smooth transition for clients and ... Read the full article
Howden acquires Allianz Musical Insurance business
1st August 2024
Global insurance intermediary group Howden has announced the acquisition of Allianz UK’s Musical Insurance business, which it will incorporate into its music scheme, Lark Music. Following the transaction, the business’ customer base, marketing and operations teams will transfer into Howden’s Lark Music, which currently primarily services higher value instruments. This acquisition complements ... Read the full article
Arch Insurance secures approval for Allianz’s US MidCorp and Entertainment insurance businesses
25th July 2024
Arch Insurance North America, part of Arch Capital Group Ltd., has obtained regulatory approval for its previously announced acquisition of Allianz’s US MidCorp and Entertainment insurance businesses, including select specialty insurance programmes, from Allianz Global Corporate & Specialty SE. Both parties expect to close the transaction on August 1, 2024, subject ... Read the full article
Allianz’s acquisition of Income Insurance unlikely to alter Singapore market, Fitch
22nd July 2024
Global insurer and asset manager Allianz's proposed acquisition of Singapore’s Income Insurance Limited "should not materially change the competitive landscape in Singapore’s insurance market," says Fitch Ratings. If you recall, Allianz Group, through its wholly owned subsidiary Allianz Europe B.V., recently announced its intention to acquire a 51% majority stake ... Read the full article
Allianz to acquire majority stake in Singapore’s Income Insurance
17th July 2024
Allianz Group, a global insurer and asset manager, through its wholly owned subsidiary Allianz Europe B.V., has offered Singapore-domiciled insurer Income Insurance a pre-conditional voluntary cash general offer to acquire at least 51% of its shares. This strategic move will propel Allianz from the ninth to the fourth largest composite insurer ... Read the full article
AXA tops list of largest European insurers ranked by GPW
9th July 2024
When ranked by gross premiums written (GPW) in 2022, global insurer AXA tops the list of the largest European insurance companies with US$106.1 billion. AXA also recorded $42.3 billion in capital & surplus from the same year. Based on data from ratings agency AM Best, our directory of ... Read the full article
Bloomberg reports UK insurance market upheaval with Allianz and AXA rate increases
27th June 2024
The insurance market in the UK is experiencing significant upheaval as Allianz and AXA, two global insurers, implement substantial rate hikes, according to a recent report by Bloomberg Intelligence (BI), a provider of financial analysis and research. Compared to other European markets, the price increases for personal lines in the UK ... Read the full article
Allianz appoints Vanessa Maxwell as Global Head of Cyber & Financial Lines
17th June 2024
Allianz Commercial has recently announced the appointment of industry veteran Vanessa Maxwell as Global Head of Cyber, alongside her current role as Global Head of Financial Lines. In this dual capacity, Maxwell will report directly to Shanil Williams, Chief Underwriting Officer at Allianz Commercial. She will oversee Cyber and Financial Lines as ... Read the full article
Shipping losses hit historic low amid rising risks: Allianz review
10th June 2024
Allianz Commercial’s annual Safety and Shipping Review reveals a historic low in shipping losses despite escalating risks from geopolitical tensions and climate change. In 2023, the global count of large ships lost dropped significantly to 26, down over a third from the previous year's total of 41. Over the past decade, ... Read the full article
Allianz UK makes two key senior leadership changes appointing Kam as CRO
22nd May 2024
Allianz UK has announced the promotion of Jason Howes to Chief Transformation Officer and the appointment of Hanna Kam to the role of Chief Risk Officer, taking over the role from John Berry, who has decided to step down. According to the announcement, these senior moves reflect the company’s ongoing strategic ... Read the full article
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