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.

AGCS hires Michael Furtschegger as Global Head of Entertainment

25th February 2021

Allianz Global Corporate & Specialty (AGCS), Allianz Group’s specialist carrier for corporate insurance business, has appointed Michael Furtschegger as Global Head of Entertainment. He will be based in Munich and report to AGCS SE Board Member and Chief Underwriting Officer Specialty Renate Strasser. The AGCS Entertainment line of business provides specialised insurance ... Read the full article

Allianz reports 14% dip in net income; €1.3bn COVID-19 impact for 2020

19th February 2021

Global re/insurer Allianz has reported operating profit of €10.8 billion for 2020 and net income of €6.8 billion, which includes a negative COVID-19 impact of €1.3 billion for the period. Operating profit fell by more than 9% year-on-year, driven mostly by the adverse impacts from the ongoing COVID-19 pandemic. As a result ... Read the full article

Pandemic-related risks front and centre for corporates in 2021: Allianz

20th January 2021

The 10th annual Allianz Risk Barometer reveals that exposures related to the ongoing COVID-19 pandemic are considered the top business risks in 2021, with business interruption (BI) taking the top spot for the eighth time. A significant 41% of responses see BI as the top risk to business in 2021, followed ... Read the full article

Jeremy Sharpe to lead AGCS Global Distribution unit

9th December 2020

Allianz Group’s specialist carrier for corporate insurance business, Allianz Global Corporate & Specialty (AGCS), has appointed Jeremy Sharpe to lead its Global Distribution unit, succeeding Patrick Thiels. Thiels will now lead its Mediterranean & Africa region, succeeding the current Regional Managing Director, Corinne Cipière who has been appointed to a Board ... Read the full article

Allianz to acquire Westpac’s GI business for AUD 725m

2nd December 2020

Global insurer Allianz has reached an agreement to acquire the general insurance (GI) business of Australian bank and financial services provider, Westpac, for AUD 725 million (approx. USD 535 million). As part of the arrangement, Allianz and Westpac have entered into a new 20-year exclusive agreement for the distribution of general ... Read the full article

Allianz sees net income rise 6% in Q3

6th November 2020

Global insurer Allianz has reported a net income of €2.1 billion for the third quarter, up an impressive 5.9% from the prior year period. This elevated net income was due to a higher non-operating investment result and was partly offset by higher restructuring and integration expenses. Total revenues decreased 6.1% to €31.4 ... Read the full article

SCOR & Allianz back health startup Human API

2nd November 2020

Human API has raised over $20 million in a Series C funding round that saw participation from SCOR Life and Health Ventures, Allianz Life Ventures, Samsung Ventures and CNO Financial Group. Human API is a health data network that has established a reputation helping Fortune 500 financial services companies such as Prudential ... Read the full article

AGCS appoints Luke Baker regional head of liability for London, Nordics

29th October 2020

Allianz Global Corporate & Specialty, Allianz’s specialist carrier for corporate insurance business, has added Luke Baker as its new regional head of liability for regional unit London and Nordics. Baker will join AGCS in the new year to lead its liability business across the UK, Ireland, Nordics and the Middle East ... Read the full article

Macif, Generali & CVC to join bidding war for Aviva’s French business

26th October 2020

Reports suggest that mutual insurer Macif and a consortium consisting of Generali and investment firm CVC Capital Partners are readying their bids for an acquisition of Aviva’s business in France. Last month, sources at Reuters said a consortium of Allianz and life re/insurer Athora Holding were in talks to takeover ... Read the full article

Allianz enters strategic partnership with Jubilee Holdings

26th October 2020

Jubilee Holdings Limited and Allianz have signed an agreement to establish a strategic partnership in the five African countries where Jubilee Insurance currently operates. The partnership aims to cover the property & casualty insurance segment in Kenya, Tanzania and Uganda as well as the short-term insurance segment in Burundi and Mauritius. JHL ... Read the full article

COVID-19 changing term claims trends, risk exposures long-term: AGCS

9th October 2020

The COVID-19 pandemic will likely cause claims trends and risk exposures to evolve in the mid-and long-term, according to a report from Allianz Global Corporate & Specialty (AGCS). The report notes how, with the reduction in economic activity during lockdown phases, traditional property and liability claims have been subdued, most notably ... Read the full article

Allianz Insurance hires new Head of Claims Operations

9th October 2020

General insurer, Allianz Insurance has announced that Graham Stait will be the new Head of Claims Operations. In his new role, Stait will be responsible for leading the development and delivery of Allianz’s claims operational strategy, leveraging enhanced people, data and digital capabilities to drive continuous improvement and positive customer outcomes. In ... Read the full article

Allianz to acquire five East African P&C insurers in $100mn deal

29th September 2020

Global insurer Allianz has announced a partnership that will see it acquire controlling stakes in five East African general insurance companies, all of which belong to Jubilee Holdings Limited, the region's largest insurance group. The partnership, which has been finalised but still requires regulatory approval, covers the property & casualty segment in Kenya, ... Read the full article

Allianz announces key changes to board

25th September 2020

Global insurer Allianz has announced a series of key changes to its board of directors, including the addition of Allianz Technology SE Chief Executive Officer (CEO), Barbara Karuth-Zelle. She has been appointed to the board of Allianz in charge of Operations and IT. Effective 1 January 2021, she succeeds Christof Mascher, who ... Read the full article

Allianz & Athora reportedly eyeing Aviva takeover in France

25th September 2020

A consortium of Allianz and life re/insurer Athora Holding is considering a takeover of Aviva’s French business in a deal valued at €2 billion to €3 billion, according to reports from Reuters. Reuters sources said that Aviva has engaged JP Morgan and Rothschild to help offload its life and P&C operations ... Read the full article