Allianz

Allianz takes stake in Africa Re

German insurance giant Allianz has acquired an 8 percent stake in Africa Re in a deal which values the Lagos-based firm at around $1bn.

Allianz grows P&C premiums and profits in Q1

German insurance giant Allianz saw the top and bottom lines in its property and casualty division climb in the first quarter despite taking a EUR220mn ($262.3mn) hit from European storm Friederike.

Investors take decisive action in response to Q4 results

Investors were quick to punish carriers that underperformed in a fourth quarter that was plagued by California wildfire losses as they decisively rewarded firms that exceeded expectations in results released last week.

UPDATE: Bäte remains coy on Allianz-XL acquisition speculation

Allianz CEO Oliver Bäte has said the German giant remains committed to investing in the P&C arena, but declined to comment on speculation that Mike McGavick’s XL is the next target on the firm’s radar.

JP Morgan makes U-turn on $14bn Allianz–XL deal outlook

After initial scepticism, JP Morgan now says Allianz’s rumoured bid for Bermudian XL Group could make sense for the German heavyweight’s shareholders even at a hefty take out price of $14bn - or around $54 a share.

XL shares soar as Wall Street acquisition rumours reach fever pitch

Shares in XL Group were trading up by more than 12 percent as markets closed on Wednesday after reports that potential acquirers were circling the Bermuda-headquartered group.

Exin taps Pimco and Berkshire Hathaway for Ethniki funding: reports

With just days left before it is due to table a final financing plan for Greek state-owned insurer Ethniki, Matt Fairfield’s Exin has spoken to Allianz-owned Pimco and Berkshire Hathaway about committing funds to the ongoing acquisition.

Allianz in £1bn “partnership” with UK insurer LV=

The third largest UK personal lines insurer was formed this morning following a tie-up between Allianz Group and the Liverpool Victoria Friendly Society (LV=).