Allianz Global Corporate & Specialty SE (‘AGCS’) today announced that Thomas Lillelund will join Allianz as the CEO of AGCS in early 2025.
Tag: Allianz
Maritime Losses Decline But Industry Faces Unprecedented Challenges, Allianz Report Warns
The global shipping industry has seen a significant reduction in the number of vessel losses, but faces increasing volatility from geopolitical events, climate change, and the trend towards larger vessels, according to marine insurer Allianz Commercial.
Allianz Sells Fireman’s Fund to Arch Capital for $1.4B
Allianz agreed to sell Fireman’s Fund, its U.S. insurance unit for mid-sized corporations and entertainment industry clients, to Bermuda-based Arch Insurance for $450 million in cash, the German insurer said on Friday.
Allianz Launches In-House Financial Lines Claims Team
Allianz said it launched a new dedicated in-house financial lines claims team covering mid-corporate and small and midsize enterprises businesses.
Allianz CEO Eyes Rising Threats as Weather Losses Dent P/C Segment
Natural catastrophe losses hit the 2023 property/casualty profit for Allianz SE in 2023 but the group reported higher income in all of its segments, while watching rising economic, technology and geopolitical threats, its chief executive officer said.
Allianz Q3 Operating Profit Down 14.6% Driven by Impact of Natural Catastrophes
Allianz has reported that its operating profit dropped 14.6% to €3.5 billion in Q3, driven by the Property/Casualty business segment affected by a 7.3 percentage point impact by natural catastrophes on the combined ratio, the highest in a decade.
Allstate, Allianz Invest $265 Million in Next Insurance
Allstate and Allianz are making a sizable bet on the digital transformation of the commercial insurance market with a $265 million strategic investment in Next Insurance, an insuretech startup focused on the small business market.
Detection and Response Tools Increasingly Important As Cyber Claims Surge: Allianz
Following two years of high but stable loss activity, 2023 has seen a worrying resurgence in ransomware and extortion claims as the cyber threat landscape continues to evolve, Allianz Commercial warns in a new report.
Allianz Former Manager Must Face U.S. Fraud Charges Related to $7B Investor Loss
A U.S. judge has rejected former Allianz fund manager Gregoire Tournant’s bid to dismiss a criminal fraud case over his role in causing more than $7 billion of investor losses.
Allianz U.S. Unit Ordered to Pay $6 Billion in Securities Fraud Case
A New York judge ordered a unit of Allianz SE to pay about $6 billion as punishment for misrepresenting the investment risk posed by a group of hedge funds that collapsed amid market fluctuations caused by the Covid-19 pandemic.