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 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

AGCS names Jenise Klein NA Regional Head of Property

20th May 2021

Allianz Global Corporate & Specialty (AGCS) has added Jenise Klein as its new North America Regional Head of Property. Klein replaces Jill Knecht, who is set to depart the company after 17 years. Klein joined Allianz in 2015 as a member of the AGCS Alternative Risk Transfer (ART) team based in New ... Read the full article

Allianz reports 45% operating profit growth in Q1

12th May 2021

Global insurer Allianz has reported a 44.8% rise in operating profit to €3.3 billion over this year’s first quarter, with all segments contributing. Total revenues declined 2.6% to €41.4 billion and were flat compared to the prior-year level, adjusted for currency and consolidation effects. Net income attributable to shareholders increased 83.4% to ... Read the full article

Allianz to phase out coal-based business models in P&C insurance by 2040

4th May 2021

Global insurer Allianz has unveiled a number of new guidelines for coal-based business models in both property and casualty (P&C) insurance and proprietary investments from 2023 onwards. By 2040, Allianz intends to completely phase out coal-based business models in P&C insurance, which is in line with scientific recommendations for a faster ... Read the full article

AGCS appoints David Brown to succeed Boyd as Capital Solutions lead

15th April 2021

Allianz Global Corporate & Specialty (AGCS) has recruited insurance linked markets head David Brown to lead its capital solutions unit, succeeding long-term colleague Richard Boyd in the role. He's expected to officially start on July 1, subject to local regulatory approval. Boyd, meanwhile, is leaving Allianz and moving back to the United ... Read the full article

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