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 launches life reinsurance sidecar Sconset Re
10th December 2024
Global insurer Allianz has established a new independent strategic reinsurance platform called Sconset Re Ltd., which will be capitalized through equity investments from high-quality institutional partners. Located in Bermuda, Sconset Re will specialise in assuming Fixed Indexed Annuity product risk and its asset management, and will aim to deliver more efficient ... Read the full article
Allianz lifts financial targets through 2027 after surpassing goals
10th December 2024
After exceeding its 2024 economic goals, Allianz has raised its financial targets for the 2024-2027 cycle, aiming for a property and casualty operating profit of approximately €9.5 billion by 2027, with a combined ratio of 92-93%. In its other segments, the company has anticipated a Life and Health operating profit of ... Read the full article
Allianz purchases general insurance business of RAA
2nd December 2024
Allianz has acquired the general insurance business of the Royal Automobile Association of South Australia Incorporated (RAA), expanding its consumer insurance presence in South Australia. The insurer’s partnership with the RAA, worth AUD$6422 million, also includes a 20-year exclusive distribution agreement for the Home and Motor insurance product lines of RAA. Within ... Read the full article
Von Mesterhazy named as new MD for Allianz UK Specialty business
25th November 2024
Allianz UK has announced the appointment of Isabella Von Mesterhazy as Managing Director for its Specialty business, effective 1 December 2024, subject to regulatory approval. Von Mesterhazy will be taking over the role from Kieran O’Keeffe, incumbent MD for Specialty, who will be retiring at the end of the year. In her ... Read the full article
Allianz launches global program to combat polarisation in societal institutions
18th November 2024
Following an active electoral year worldwide, Allianz has announced the launch of “Power of Unity,” a global program aimed at restoring trust in societal institutions and fostering confidence in a better economic future. According to Allianz Research’s Social Resilience Index 2024, polarisation and social unrest have increased in many countries, carrying ... Read the full article
Allianz sees Q3’24 net income hit €2.5bn as operating profit climbs 14%
13th November 2024
In its Q3 2024 results, Allianz has revealed that net income attributable to shareholders was €2.5 billion, up from €2 billion in the same period of last year, driven by a higher operating profit. Allianz also disclosed that total business volume rose 17.3% to €42.8 billion in Q3 2024, driven by ... Read the full article
Swiss Re to sell iptiQ’s Euro P&C business to Allianz Direct
5th November 2024
In line with its strategic decision to withdraw from iptiQ, Swiss Re has agreed to sell the digital insurer's European P&C business to Allianz Direct, the pan-European online insurer of Allianz Group. iptiQ is a carrier based in Luxembourg that partners with other insurers, brokers, banks and consumer brands to deliver ... Read the full article
New non-profit Humanity Insured aims to insure 3.6 billion people against climate disasters
19th September 2024
Humanity Insured, a new UK and US non-profit organisation, has launched with the mission of empowering vulnerable communities to become more resilient to the impacts of climate change through the use of effective insurance solutions. Howden, a global insurance intermediary, spearheaded the creation of Humanity Insured, bringing together key players from ... Read the full article
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
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
