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.
Nina Klingspor to become CEO of Allianz Central Europe
12th December 2023
Allianz SE has announced that Nina Klingspor, currently CEO of Allianz Private Krankenversicherungs-AG, Allianz's private health insurance business in Germany (APKV), will be appointed as the new Chief Executive Officer (CEO) of Central Europe for Allianz Group, subject to approval by the relevant corporate bodies Klingspor will succeed Petros Papanikolaou who ... Read the full article
Allianz develops machine learning tool to tackle growing fraud claims
11th December 2023
Allianz has announced that it has developed a machine learning tool called ‘Incognito’ that is set to tackle growing fraud claims. Experts across the Allianz UK business have collaborated in developing and building the machine-learning tool. From what we understand, Incognito identifies potentially fraudulent claims, which are then referred to a fraud ... Read the full article
Moody’s revises Allianz’s outlook to Stable, affirms A2 IFSR
28th November 2023
Moody's Investors Service has affirmed the A2 insurance financial strength rating (IFSR) of Allianz S.p.A., the Italian subsidiary of Allianz SE, and simultaneously revised the outlook from negative to stable. The rating affirmation and outlook revision are attributed to the improved credit quality of the Government of Italy (Baa3 stable), evidenced ... Read the full article
Allianz could lift nat cat budget to enhance underwriting discipline: Berenberg
23rd November 2023
In a recent fireside chat with Allianz's head of investor relations, Oliver Schmidt, the insurance giant revealed that it could modestly increase its natural catastrophe budget. The move would aim to fortify the company's underwriting discipline and align pricing strategies with potential risks. Investors raised inquiries about the rationale behind augmenting the ... Read the full article
Allianz Trade names Peter Evola Commercial Director, UK & Ireland
20th November 2023
Peter Evola has been appointed Commercial Director for Allianz Trade in the UK & Ireland, effective December 1, 2023, and subject to regulatory process. In his new role, based in London, Evola will lead the team to drive profitable growth and offer a valuable contribution as a member of the UK ... Read the full article
Allianz Q3 operating profit down 14.6% driven by impact of nat cats
10th November 2023
Allianz has reported that its operating profit dropped 14.6% to €3.5 billion in Q3, driven by the Property-Casualty business segment affected by a 7.3 percentage point impact by natural catastrophes on the combined ratio, the highest in a decade. The firm's net income in Q3 was €2.1 billion, down by 29.3%, ... Read the full article
Ransomware attacks surge, highlighting need for detection, response tools: Allianz
26th October 2023
In a recent report, Allianz Commercial has sounded the alarm on a sharp resurgence in ransomware and extortion claims, cautioning businesses to bolster their cybersecurity defenses. The report underscores the evolving nature of cyber threats, with hackers targeting both IT and physical supply chains, employing mass cyber-attacks, and exploiting new avenues ... Read the full article
Allianz to acquire Generali’s Tua Assicurazioni for €280m
13th October 2023
Global insurer Allianz is set to increase its property and casualty (P&C) market share in Italy with the acquisition of Tua Assicurazioni from Generali for a cash consideration of €280 million. Previously part of Cattolica Assicurazioni, TUA Assicurazioni is an insurance subsidiary of the Group focused on P&C business in the ... Read the full article
SanlamAllianz to provide insurance & financial services in 27 African markets
6th October 2023
African non-banking financial services provider, Sanlam, and global insurer Allianz have announced the receipt of regulatory approvals for a joint venture called SanlamAllianz, a Pan-African non-banking financial services company with a presence in 27 countries across the continent. The joint venture's ambition is to be among the top three players, in ... Read the full article
HIVE & Allianz Commercial collaborate to underwrite new product
4th October 2023
HIVE Underwriters Ltd. and Allianz Commercial are collaborating to underwrite Aviation Hull War and Excess Third-Party Aviation War Liabilities (XS AVN52) classes with immediate effect. With capacity from Allianz, the facility utilises HIVE’s risk analytics and exposure management systems. Bruce Carman, HIVE’s Chief Underwriting Officer, commented: “HIVE is continually looking to enhance ... Read the full article
Allianz SE announces updates to Board of Management
2nd October 2023
Allianz SE has announced a series of updates to its Board of Management, among which Oliver Bäte’s mandate as Chairman has been renewed and extended through the Annual Shareholders Meeting 2028. At the same time, The mandate of Andreas Wimmer as a Member of the Board of Management responsible for Life ... Read the full article
Economic pressures and tech innovation in offshore wind industry pose challenges for insurers: Allianz
26th September 2023
The offshore wind industry is poised for growth, but developers and their insurers need to successfully manage a range of risks to successfully scale this industry globally, said Allianz in a recent report. In ‘A turning point for offshore wind’, Allianz Commercial highlights growth opportunities, tech innovations, risk trends, and loss ... Read the full article
Fighting climate change has become an ever greater challenge: Allianz CEO
22nd September 2023
"The long era of robust economic growth, low inflation, and geopolitical stability is over, and it's replaced by uncertainty, volatility, and war. Suddenly, fighting climate change has become an ever greater challenge," suggests Allianz CEO Oliver Bäte. Bäte's comments stem from his speech at a summit of leaders from 34 governments ... Read the full article
Allianz names Henry Topham managing director of its UK Retail business
14th September 2023
Allianz Holdings has appointed Henry Topham as the new managing director of its UK Retail business. He succeeds Heather Smith, who will be leaving the business to take up a new opportunity. Topham has been with Allianz since December 2016 and is currently the managing director of Britannia Rescue and Flow. In his ... Read the full article
Allianz outlines new net-zero transition plan
8th September 2023
German insurer Allianz has published its first net-zero transition plan committing to reduce emissions as part of a plan that aims for net-zero in 2050 in its proprietary investment and Property and Casualty (P&C) underwriting portfolios and by 2030 within its own operations. The insurer pledged to grow its revenues from ... Read the full article
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