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 to focus on U.S. Large Corporate and Specialty insurance with sale of Fireman’s Fund insurance businesses to Arch
9th April 2024
Allianz Global Corporate & Specialty SE (AGCS), Allianz Group’s carrier for large corporate and specialty insurance, has announced it is to focus on U.S. Large Corporate and Specialty insurance with the sale of its U.S. MidCorp and Entertainment insurance businesses, to Arch Insurance North America. AGCS has agreed to sell the ... Read the full article
Allianz Commercial appoints four regional distribution managers for broker support
6th March 2024
Allianz Commercial has recently appointed four regional distribution managers covering the South, North, London, Midlands, and the South West regions to enhance support for brokers across the UK. The appointed regional distribution managers are Victoria Ashman, Viral Patel, Mark O’Brien, and Julie O’Donovan. In their new roles, they will oversee the sales ... Read the full article
Allianz completes acquisition of Tua Assicurazioni from Generali
5th March 2024
Allianz, a leading insurer and asset manager, has completed the acquisition of Tua Assicurazioni S.p.A. from Assicurazioni Generali S.p.A., an Italian global insurance and asset management provider. The acquisition was announced in October 2023, and the transaction was completed at a consideration of €280 million. The transaction is in alignement with ... Read the full article
Allianz reports record operating profit of €14.7bn for FY23
23rd February 2024
Insurance giant Allianz has reported a record operating profit of €14.7 billion for the full year 2023, an increase of 6.7% from €13.8 billion in the previous year, driven primarily by the Life/Health (L&H) business segment. Group-wide, total business volume grew 5.5% to €161.7 billion in 2023, which Allianz attributes to ... Read the full article
Allianz introduces new Financial Lines team to enhance customer support
14th February 2024
Allianz has announced the launch of a new in-house team dedicated to managing Financial Lines claims. This move aims to provide seamless support to brokers and customers who rely on Allianz's Directors & Officers and Professional Indemnity products. Located at Allianz’s Milton Keynes branch, this newly established team collaborates closely with ... Read the full article
Cyber events top global business risk for 2024: Allianz Risk Barometer
16th January 2024
In its latest Risk Barometer, Allianz reveals that cyber incidents have claimed the top spot as the foremost global business risk for 2024. This concern is underscored by the rising threat of ransomware attacks, data breaches, and IT disruptions. The closely following peril is business interruption, while natural catastrophes have surged ... Read the full article
Rokstone announces $25m Allianz-backed partnership
9th January 2024
Aventum Group’s international insurance and reinsurance MGA, Rokstone, has entered into a strategic alliance with Allianz Commercial, which has committed a $25 million facility to Rokstone. This collaboration is aimed at enhancing Rokstone’s North American Marine operations, and marks the company’s extension of its growing partnership with global insurer Allianz. James Potter, ... Read the full article
Allianz issues €250m European windstorm catastrophe bond
19th December 2023
Insurance giant Allianz has returned to the catastrophe bond market for the first time in over a decade with a new deal which will provide it with a multi-year risk transfer capacity of €250 million to protect against European windstorms. According to Allianz, this reinsurance agreement with Blue Sky Re DAC, ... Read the full article
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
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