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 latest to rule out insuring East African Crude Oil Pipeline
11th April 2022
Allianz has become the seventh insurer to commit to not providing coverage to the East African Crude Oil Pipeline (EACOP). The pressure group #StopEACOP says that the insurer has sent it an email to confirm that they will not be ‘providing direct insurance’ to the project since ‘it neither meets our ... Read the full article
Allianz & Swiss Re place first legally bound Cat XoL reinsurance DLT-contract, enabled by B3i
6th April 2022
Global insurer Allianz and Swiss Re, an international reinsurance company, have successfully placed the world's first legally bound catastrophe excess-of-loss (XoL) reinsurance contract on distributed ledger technology (DLT), enabled by B3i Re's live production network. The industry-led blockchain initiative, B3i, has been developing and enhancing its platform and solutions for some ... Read the full article
Allianz Benelux implements Munich Re’s ALLFINANZ
5th April 2022
Allianz Benelux, a member of the Allianz Group, has implemented Munich Re’s ALLFINANZ suite of products, where the partnership will enable Allianz to speed up the life insurance underwriting journey for Dutch applicants. ALLFINANZ will provide Allianz with complete end-to-end capabilities across automated underwriting and advanced analytics. The ALLFINANZ suite of products ... Read the full article
Allianz’s Günther Thallinger joins new UN advisory council on climate action
1st April 2022
Allianz board member Günther Thallinger has joined the UN’s new advisory council on accelerating climate action. A statement from the insurance giant said that Thallinger has become one of sixteen experts on the High-Level Expert Group on the Net-Zero Emissions Commitments of Non-State Entities (HLEG). HLEG will report directly to the ... Read the full article
Allianz renames Euler Hermes to Allianz Trade
29th March 2022
Global insurance carrier Allianz has renamed trade credit insurer, Euler Hermes to Allianz Trade, effective immediately. Allianz Group purchased the trade credit specialist in 2018. The company said: “We are the world leader in trade credit insurance, operate in 52 countries and count over 5,500 employees. Changing our brand name to Allianz ... Read the full article
Berenberg expects Q1 2022 to be millions over budget for Allianz
17th March 2022
Berenberg has said it expects Q1 2022 for Allianz to be €600m over budget. The firm said it based this analysis on natural catastrophe losses arising from European storms and floods in Australia, which it said were around €300m above the normal run rate. In addition, it calculated €300m worth of ... Read the full article
Allianz grows aggregate reinsurance and lifts catastrophe budget for 2022
21st February 2022
Global insurance carrier Allianz has expanded its aggregate reinsurance protection for 2022 and also raised its catastrophe budget for the year, after the company experienced a particularly high burden from nat cat losses in 2021. Allianz's recently published full year 2021 financial results show that the insurer recorded net natural ... Read the full article
Burning car carrier Felicity Ace could be $500m cargo loss, says Skytek
18th February 2022
The fire that emerged on the Felicity Ace cargo ship, which was loaded with luxury cars as it departed Germany for the U.S. on February 9th, could result in a loss for the marine re/insurance market of as much as $500 million, reports Skytek. A fire broke out in one of ... Read the full article
Allianz strengthens CR but income falls on €3.7bn Structured Alpha charge
18th February 2022
German insurer Allianz has reported a 2.9% dip in net income for 2021 to €6.6 billion as the group-wide performance included a €3.7 billion charge related to the Structured Alpha Funds, which reduced income for the year by €2.8 billion. For the fourth quarter of 2021, Allianz has fallen to a ... Read the full article
Allianz Global Corporate & Specialty adds three US team members
27th January 2022
Allianz Global Corporate & Specialty (AGCS) is expanding and buttressing its environment impairment liability (EIL) underwriting team in North America. Annalisa Ahumada, Andrew Hill, and Mark Heigh will take on roles in Chicago, New York, and Philadelphia, respectively. Ahumada and Heigh will be underwriting specialists, while Hill will be an executive ... Read the full article
Cyber the top concern for businesses in 2022: Allianz
18th January 2022
Cyber perils are viewed as the top concern for businesses globally in 2022, as natural catastrophe and climate change risks climb the rankings of the latest Allianz Risk Barometer. With 44% of respondents citing cyber incidents as their biggest concern, largely driven by the threat of ransomware attacks, the peril claimed ... Read the full article
Allianz makes commercial business leadership changes
14th January 2022
Allianz Insurance has made changes within its commercial business, adding four regional managers, who will each be responsibility for the engineering construction & power (EC&P) distribution and underwriting operations. The re/insurer has made these changes to bring together the former Commercial Broker Markets and the EC&P trading businesses. Chris Everett will lead the ... Read the full article
Allianz Claims hires Carroll as Process & Improvement Manager
4th January 2022
Allianz Claims has appointed Chantelle Carroll to the newly created role of Process and Improvement Manager. In this role, she will be in charge of a team driving new technologies, innovation, and improving processes that foster personalised claims solutions. Carroll joined Allianz earlier this month from the Eden Motor Group, where she ... Read the full article
Allianz Insurance names Stuart Toal head of mid-corporate
21st December 2021
Allianz Insurance has added Stuart Toal as head of mid-corporate, a newly-created role. Helen Bancroft is to step into the position vacated by Toal, and has been promoted to serve as the firm's new casualty account manager. Reporting to Chief Underwriting Officer, Catherine Dixon, Toal will lead the mid-corporate business, playing a ... Read the full article
Allianz to leverage AI-driven risk processing from insurtech Cytora
17th December 2021
Allianz SE has announced an agreement with London-based insurtech Cytora that will see the former integrate AI-based digital risk processing solutions into its commercial insurance business. It's hoped the move will improve Allianz' margins by enabling better risk selection. “This is great news for our customers, intermediaries and underwriters," said Jörg Hipp, ... Read the full article