Allianz

Cyber tops AGCS survey of leading business concerns for 2022

Concerns over the potential threat of ransomware attacks, data breaches and major IT outages have risen to the top of the annual Allianz Risk Barometer for the second time in the survey’s history.

Allianz restructures commercial unit’s regional leadership

Allianz Insurance has overhauled its UK commercial business in a move the insurer said would benefit broker partners and allow for a greater focus on its engineering propositions.

New Jersey diocese seeks court approval of $27mn insurance settlement

The Diocese of Camden has asked its bankruptcy judge to approve a $27.2mn settlement of sexual abuse claims with its insurers, although the tort claimants committee in the proceeding has described it as a “woefully inadequate sum”.

Allianz Claims appoints Carroll as process improvement manager

Allianz Claims has appointed Chantelle Carroll to the newly created role of process and improvement manager.

AGCS North America CEO targets multi-line growth after remediation

Allianz Global Corporate & Specialty North America is eyeing targeted growth in corporate property, entertainment, energy, construction and select liability lines in 2022 as it moves beyond its wide-reaching remediation programme and looks to take advantage of improved market conditions, president and CEO William Scaldaferri has told The Insurer.

Allianz names Toal head of mid-corporate and Bancroft casualty account manager

Allianz Insurance has promoted Stuart Toal to the newly created role of head of mid-corporate, with Helen Bancroft replacing Toal in his current role of casualty account manager.

AGCS names Williams corporate CUO as Buckle departs for personal reasons

Allianz Global Corporate & Specialty has appointed Shanil Williams as its new corporate CUO, replacing Tony Buckle who will be leaving Allianz for personal reasons.

AGCS: Volatile markets, US lawsuits, ESG and SPACs to create D&O risks in 2022

Market volatility, rising insolvencies, increased ESG scrutiny and cyber security are all expected to be key risks for directors and officers in 2022, according to a report by Allianz Global Corporate & Specialty.

Allianz becomes latest carrier to partner with insurtech Cytora

Allianz has become the latest carrier to partner with Cytora, using the London-based insurtech’s AI platform to enhance its commercial insurance business.

Allianz targets 5-7% annual growth in EPS and 13% RoE in new strategic plan

Allianz has targeted annual growth in earnings per share of 5-7 percent and a minimum 13 percent return on equity as part of a new strategic outlook unveiled ahead of its Capital Markets Day today.

AGCS names Yee global TMT solution director

Allianz Global Corporate & Specialty has appointed Jody Yee as global industry solution director for technology, media and telecom.

Allianz completes €2.5bn acquisition of Aviva Poland

Aviva has completed the €2.5bn sale of its Aviva Poland operations to Allianz.

Allianz UK COO Smith to step down at year end

Stephanie Smith is to step down as chief operating officer of Allianz Holdings, the holding company for Allianz’s UK-based insurance operations, at the end of December to pursue opportunities outside the firm.

AGCS primes for growth with Chubb, WRB and Axa XL hires and management shuffle

Allianz Global Corporate & Specialty (AGCS) has undertaken a series of senior management and underwriting promotions and hires as it readies for growth in the wake of its wide-reaching remediation actions, with the company unveiling notable recruits from rivals including Chubb, WR Berkley and Axa XL.

Allianz flags potential for Q4 reserve charge over Structured Alpha fund hit

Allianz is looking to “put uncertainty behind it” related to the Department of Justice (DoJ)’s probe into how its Structured Alpha fund was managed during the pandemic, highlighting the potential for a reserve charge in its fourth quarter results depending on the timing of any settlement with investors.

Allianz beats consensus with P&C result stable despite €659mn nat cat bill

Allianz booked an operating profit of €3.2bn for the third quarter of 2021, an 11.3 percent year-on-year increase and 5.5 percent ahead of analyst consensus.

Allianz promotes Thavarajah to APAC CEO

Allianz has appointed Anusha Thavarajah as regional chief executive officer of Allianz Asia Pacific, effective 1 December 2021.

Jefferies: Allianz aggregate cover to limit additional net impacts from European floods

Allianz’s aggregate reinsurance protection is expected to kick in should the carrier’s gross losses from July’s European flooding tick up to €1.3bn ($1.5bn), limiting potential for any increase to the insurer’s €400mn net loss estimate from the event.

Allianz ups European flood losses to €1.1bn

German insurance heavyweight Allianz has upped its estimated gross claims impact to €1.1bn ($1.3bn) for the European flooding in July.

AGCS names Houlihan permanent ART Americas head

Allianz Global Corporate & Specialty (AGCS) has promoted Tom Houlihan to regional head, Americas of its Alternative Risk Transfer (ART) unit on a permanent basis.

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