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.
Genoa bridge collapse to cost insurers up to $685 million: J.P. Morgan
20th August 2018
Analysts at J.P. Morgan have estimated that the Genoa bridge collapse will result in an insurance industry loss of up to €600 million (US$685 million), driven primarily by property damage and business interruption (BI) losses. Amid extremely heavy rainfall, a 200m section of the Morandi bridge, which is the main road ... Read the full article
Allianz expands Africa presence with completed acquisition of Ensure
19th July 2018
Global insurer Allianz Group has completed the acquisition of 99.03% of the shares of Nigerian insurance company, Ensure Insurance plc, from Greenoaks Global Holdings Ltd. Effective July 18th, 2018, Ensure becomes part of the Allianz Group, and will operate in Nigeria as Ensure - a company of Allianz. Ensure offers both life ... Read the full article
Allianz says major M&A deals are not on the horizon
29th June 2018
Insurance giant Allianz has denied that it has ambitions to complete a major merger or acquisition (M&A) deal, saying that no deals are on the horizon. Allianz also said at a day for investors and analysts held this week that they are not in discussion with any of the companies Read the full article
Allianz planning huge UK insurance acquisition, Aviva and RSA both targets
18th June 2018
A report from The Sunday Times suggests Chief Executive Officer (CEO) of Allianz, Oliver Bäte, has been working with investment bankers for several months as he weighs up options on a list of potential deals. Allianz are said to be interested in pursuing a large UK insurance acquisition, with Aviva and ... Read the full article
Italy’s rising sovereign risks threaten major insurer ratings: Moody’s
6th June 2018
Moody’s Investors Service has placed Italian insurers Allianz S.p.A (Allianz Italy) and Unipol Gruppo S.p.A. (UG) on review for downgrade as the country faces a financial crisis following the election of a Eurosceptic coalition government. The announcement follows Moody's decision to place the Italian government's Baa2 debt rating under review for ... Read the full article
Allianz Group to purchase 8% stake in Africa Re
30th May 2018
Allianz Group has entered into an agreement to acquire an 8% stake in African Reinsurance Corporation (Africa Re) for a total cash consideration of USD 81 million. The transaction will make Allianz one of the largest shareholders in Africa Re, and will enable both companies to jointly promote insurance penetration in ... Read the full article
Allianz enters Portugese insurance distribution agreement with CaixaBank
10th May 2018
Allianz Group has entered an agreement with CaixaBank to sell its 8.4% stake in Portugese investment bank Banco BPI in return for a reorganisation of the terms of insurance distribution cooperation in Portugal. The total purchase price of the share transaction is €178 million, or €1.45 per Banco BPI share, and ... Read the full article
Allianz expands climate strategy with long-term carbon reduction goals
9th May 2018
Allianz Group has significantly expanded its climate strategy with plans to immediately withdraw from re/insuring coal-based power plants and mines, and long-term goals to phase out its investments in coal-based business and re/insurance coverage of related risks by 2040. The Group also plans to support the long-term development of a low-carbon ... Read the full article
Allianz to squeeze-out and delist remaining Euler Hermes shares
25th April 2018
Allianz has announced that it will complete its acquisition of Euler Hermes minorities by implementing a squeeze-out of remaining shares, after which it will delist the company from the Euronext Paris stock exchange. The squeeze-out, which was first announced in February, is scheduled for April 27th, 2018, and will see ... Read the full article
Allianz X & Tencent Holdings co-lead mobile bank platform N26 funding round
22nd March 2018
Allianz X and Tencent Holdings have co-led European mobile bank N26's $160 million series C funding round, and have joined its Board of Directors alongside other notable investors. The funding will be used primarily for N26’s overall growth strategy and international expansion, particularly throughout the U.S. and UK. Solmaz Altin, Chief Digital Officer ... Read the full article
Allianz Africa hires Arthur Yao from Swiss Re as CUO & Reinsurance Officer
14th March 2018
Allianz Africa Financial Services has named former Swiss Re Acting Head of West Africa Arthur Yao as Chief Underwriting and Reinsurance Officer, with effect from September 1st 2018. In his new role at Allianz Africa Yao will be responsible for direct underwriting and reinsurance strategies across all lines of business in ... Read the full article
Allianz appoints Iván de la Sota to Board of Management
12th March 2018
The Supervisory Board of Allianz SE has announced that Iván de la Sota is to join the company’s new Board of Management division, and will assume the role of Chief Business Transformation Officer. The division will help Allianz exploit the growing demand for digital insurance and investment solutions, and de la ... Read the full article
Allianz to buy remaining 5% of Euler Hermes shares in squeeze-out
23rd February 2018
Allianz has revealed plans to initiate a squeeze-out and delisting of Euler Hermes' remaining 5% of market float share capital and voting rights, in a move that will see the insurer complete plans for 100% ownership of the global trade credit insurer. Allianz intends to file a tender offer in coming ... Read the full article
Allianz results dented by 2017 catastrophes
16th February 2018
Insurance giant Allianz's fourth-quarter and full-year 2017 results have been dented by the impacts of major catastrophe events, including the California wildfires, hurricanes Harvey, Irma and Maria, as well as European windstorms and other events. Natural catastrophe losses rose to EUR 1.1 billion for the insurer in 2017, up from EUR ... Read the full article
Allianz grows Euler Hermes shareholding to 92.43%
15th February 2018
Allianz Group has increased its shareholding in credit insurer Euler Hermes to 92.43% after acquiring an additional 29.43% of Euler Hermes' share capital in a total investment of about €1.5 billion. The insurance giant announced last year that it was looking to gain 100% ownership of Euler Hermes, and filed Read the full article
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