Allianz

Allianz sells majority stake in Middle East unit to ADNIC

Allianz has entered into a binding transaction to sell its 51 percent stake in Allianz Saudi Fransi in Saudi Arabia to regional insurer ADNIC, as the Munich-based group streamlines its primary insurance operations in the Middle East.

Allianz, Ageas, QIC and RSA hit by seven BI group actions in wake of ExCeL test case

Four insurers – including the UK arms of Allianz, Ageas, QIC, and RSA – have been hit by a fresh wave of lawsuits filed by multiple SME owners, just weeks after insurers lost an important High Court test case over Covid-19 related business interruption losses.

Allianz UK fights back in Mishcon de Reya-led group Covid BI claim

Allianz has hit back at a multi-million pound claim brought by a policyholder action group, telling London’s High Court that the claimants’ business interruption policies had not been triggered by the UK’s coronavirus lockdowns, and that losses would be capped if they had.

Rapid scaling of offshore wind brings heightened exposures: Allianz

Insurers are having to contend with increasingly larger exposures as technological innovations drive the scaling up of the offshore wind sector to meet rising demand for renewable energy, according to a new report by Allianz Commercial.

Allianz names LSM’s Smart to lead newly separated construction business

Allianz Commercial has appointed Darren Smart as global head of construction within Allianz Global Corporate & Specialty’s leadership team.

Allianz Covid BI reinsurance arbitration dispute delayed until 2024

Europe's largest insurer Allianz is now set for a 2024 arbitration showdown with certain markets, including Lloyd’s, on its 2020 SuperCat reinsurance facility relating to its Covid-19 business interruption losses, following a drawn-out discovery and negotiating process this year, The Insurer can reveal.

Allianz announces emissions targets with net-zero pledge for own operations by 2030

Allianz has released its first comprehensive transition plan, including commitments to achieve net-zero emissions by 2050 in its investments and P&C underwriting, and by 2030 for its own operations.

Allianz Commercial names Warren-Upham London market distribution head

Allianz has appointed Alastair Warren-Upham as head of distribution for the London market business of its Allianz Commercial division.

Allianz and Lancs units sued for $325mn in latest lessor dispute

Voyager Aviation and its Dublin-based subsidiaries have sued units of Allianz and Lancashire, demanding they pay out $325mn to cover the loss of two planes detained in Russia since the country's invasion of Ukraine, taking the tally for claims filed against insurers in the UK to more than $8.0bn.

Allianz names Argentieri as London head of marine hull following Nathvandi exit

Allianz Commercial has named Tom Argentieri as head of marine hull for its regional London unit, succeeding Deepa Nathvandi who left the carrier last month for Beazley.

Allianz Commercial recruits Chubb management liability veteran Wedlin

Allianz Commercial has added Chubb veteran Eric Wedlin to its ranks, with the new hire appointed regional head of management liability commercial and management liability financial institutions for financial lines in North America.

Allianz expects ~€200mn in Q3 losses from July Italian hail

Allianz expects around €200mn of impact from the recent Italian hail season, with CFO Giulio Terzariol warning that it expects a nat cat load of at least 2.5 percent in the third quarter.

Allianz beats consensus as P&C profit rises 10.8% in Q2

Allianz reported double-digit growth in operating profit within its P&C operations during the second quarter of 2023, with its combined ratio improving to 92.2 percent.

Allianz UK now faces 40 claimants in Mishcon de Reya-led group Covid BI claim

A policyholder action group comprising 40 hotels, restaurants and rugby clubs is suing Allianz for millions of pounds of losses incurred during the Covid-19 pandemic, in the latest action against Europe’s largest insurer over the national lockdowns.

Allianz Commercial appoints Thiem and Vincenzi to lead CEE and southern Europe

Allianz Commercial has revealed that Stefanie Thiem has been appointed to lead the Central & Eastern Europe region, while Marco Vincenzi will head up Southern Europe.

Allianz bolsters new UK distribution function with Thomas and Montgomery promotions

Allianz bolsters new UK distribution function with Thomas and Montgomery promotions.

Allianz Trade partners with TFG on trade finance initiative

Trade Finance Global (TFG) has partnered with Allianz Trade in the launch of TFG Distribution Finance, an initiative to bridge the trade finance gap.

Allianz Commercial formally launches in global P&C markets

Allianz has formally brought Allianz Global Corporate & Specialty and the commercial insurance business of Allianz P&C under the Allianz Commercial banner, in a move which Europe’s largest insurer said will create a global unit controlling more than €19bn ($21bn) gross premium globally.

Allianz Trade names Markesteijn as head of surety and guarantees for Asia Pacific

Allianz Trade has appointed Chris Markesteijn as regional head of surety and guarantees in Asia Pacific.

Aircastle units seek $107mn from AGCS and Lancashire over Russia jets

Several Dublin-based subsidiaries of US aircraft lessor Aircastle have sued units of Allianz and Lancashire demanding they pay out $107mn to cover the loss of planes detained in Russia since the country's invasion of Ukraine.

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