Allianz turned down 34 deals in 2023 over sustainability concernsAllianz refused 34 insurance transactions in 2023 as they did not pass the group’s sustainability referral and assessment process.
Allianz Commercial bolsters marine hull team with Marsh’s DanceMarsh marine executive Paul Dance is set to join Allianz Commercial as a marine hull underwriter.
Allianz sells Premierline to Academy InsuranceAllianz has sold 100 percent of the equity capital of Allianz Business Services, known as Premierline, to UK consolidator Academy Insurance Services.
Allianz extends board mandates for Europe, sustainability and investment managementAllianz has extended the mandates of Sirma Boshnakova and Günther Thallinger as members of the board of management.
Allianz bolsters commercial business in UK regionsAllianz Commercial has bolstered its regional distribution with the appointment of four regional distribution managers in the UK across London, the south, the north, the Midlands and the south west.
Allianz Commercial names Chubb’s Mo as Nordics managing directorAllianz Commercial has appointed Chubb’s Margaretha Mo as managing director for the Nordics.
Allianz completes €280mn acquisition of Generali’s TuaGenerali has completed the previously announced €280mn ($304mn) sale of Tua Assicurazioni to European rival Allianz.
Allianz bullish on P&C improvement despite “ridiculous” claims inflationAllianz is confident that its P&C combined ratio and return on equity will improve over 2024 as the carrier takes action on nat cat claims and the “ridiculous” inflationary environment, according to CEO Oliver Bäte.
Allianz P&C CR deteriorates to 94.9% in Q4 following nat cat impactAllianz has posted a P&C combined ratio of 94.9 percent for the fourth quarter of 2023, a deterioration of 0.6 percentage points year on year owing to higher natural catastrophe claims.
Allianz follows Axa with major buyback programmeAllianz on Thursday unveiled a €1bn share repurchase programme to run through to December this year and increased its ordinary dividend by 21 percent, in the latest example of a significant capital management move by a major European insurer.
Shareholder returns in focus as Axa, Allianz and Zurich prepare to report Q4 earningsLater this week it will be the turn of the major European composite insurers to publish Q4 earnings, with Axa and Zurich due to report on Thursday and Allianz to follow on Friday.
Allianz forms in-house claims team for financial linesAllianz Commercial has formed a new UK-based in-house financial lines claims team to support its D&O and professional indemnity propositions.
UK court rejects Allianz and Various Eateries appeals in £16.5mn BI suitThe UK’s Court of Appeal has rejected rival bids from Allianz and restaurant operator Various Eateries in a much-anticipated Covid-19 business interruption case, providing an outcome which commentators have described as favourable to insurers.
Insurers hit with £12.5mn+ in BI claims from action groupsThe UK units of Allianz and HDI Global have been hit by a fresh wave of business interruption-related lawsuits filed by multiple SME owners seeking more than £13.5mn in payouts for pandemic losses.
Allianz leads liability cover for Airbus’s $74.5mn Grand Canyon heli crash settlementAllianz is the lead on the product liability policy triggered by Airbus’s $75.4mn settlement payout for the deadly 2018 Grand Canyon helicopter crash, The Insurer can reveal.
Allianz proposes Schneider and Bruce for board rolesAllianz has announced plans to elect former Hannover Re CFO Jörg Schneider and Abrdn plc CFO Stephanie Bruce to its supervisory board as shareholder representatives.
Rokstone secures Allianz-backed $25mn facility for NA marine specialty offeringExpansive specialty MGA Rokstone has unveiled a $25mn facility backed by Allianz Commercial for the enhancement of its North American marine operations.
Allianz sponsors €250mn European windstorm cat bondAllianz has successfully sponsored a new catastrophe bond which will provide it with multi-year risk transfer capacity of €250mn ($273.6mn) to protect against European windstorms.
Court of Appeal upholds Allianz’s rejection of Exeter University WWII bomb claimThe Court of Appeal has upheld Allianz’s decision to reject a claim from the University of Exeter for damage stemming from a controlled explosion of a World War II bomb on its campus.
Inflationary pressures and ESG concerns to drive D&O risks in 2024: Allianz’s MaxwellInflationary pressures, geopolitical uncertainty and ESG concerns are set to drive D&O claims activity in 2024, according to Allianz Commercial’s global head of financial lines Vanessa Maxwell.