Allianz to operate its Mid-Corporate and Large-Corporate insurance businesses under one strategy and market approach.
Tag: Allianz
Allianz: Key Risk Trends for Directors and Officers in 2023
Allianz’s report looks at the main factors behind potential lawsuits against a company and its board of directors by investors or other stakeholder groups in 2023.
Allianz Global Corporate & Specialty to Target Multinational Insurance
Allianz is aiming to substantially expand its business from customers in the global insurance program sector to serve the increasing demand from large and medium-size companies needing cross-border coverage. Its international corporate insurance carrier, Allianz Global Corporate & Specialty (AGCS), is strengthening its capabilities, including a new market-facing team as well as dedicated investments in… Continue reading Allianz Global Corporate & Specialty to Target Multinational Insurance
Allianz Toughens Oil & Gas Policy to Help Meet Climate Goal
Allianz, Europe’s largest insurer, plans to take a tougher stance on insuring the oil and gas industry as part of efforts to align its underwriting policies with the global climate goal, the company announced on Friday. The move is the latest by a major insurer to reduce insurance to the energy sector, which is a… Continue reading Allianz Toughens Oil & Gas Policy to Help Meet Climate Goal
Allianz Says Legal Bill for Investment-Fund Losses May Top $4 Billion
Allianz SE set aside more than $4 billion for legal expenses related to losses incurred by its investment funds during the March 2020 market panic as a result of bad options trades. The German financial behemoth said Thursday that the 3.7 billion euros in legal provisions, or $4.2 billion, were accounted for in its 2021… Continue reading Allianz Says Legal Bill for Investment-Fund Losses May Top $4 Billion
Allianz Launches $235M Bid for Greece’s European Reliance
Allianz on Friday said it will pay about 207 million euros ($235 million) to acquire Greek insurer European Reliance, a move that will create the country’s fifth-largest insurer based on gross written premiums. The 7.80 euros per share bid represents a 15.7% premium to Friday’s closing price, Allianz said, adding it was entering share purchase… Continue reading Allianz Launches $235M Bid for Greece’s European Reliance
Allianz Launches Partnership with Sea Shepherd for Marine Protection
Allianz has committed to clean oceans and coasts, biodiversity conservation and sustainable fishing practices by partnering with the international marine conservation organization Sea Shepherd Global. The partnership is initially for two years and covers Italian coastal areas in the Mediterranean Sea. Four Allianz companies are providing the funding for the newly acquired ship “Sea Eagle”… Continue reading Allianz Launches Partnership with Sea Shepherd for Marine Protection
Former Allianz Insurance Veteran Wemmer Plans Amsterdam SPAC
Dieter Wemmer, a veteran insurance executive who was chief financial officer at Allianz SE, is launching a blank-check company to target deals in the sector where he worked for more than three decades, people familiar with the matter said. Wemmer plans to raise about 250 million euros ($300 million) on the Amsterdam stock exchange in… Continue reading Former Allianz Insurance Veteran Wemmer Plans Amsterdam SPAC
Google Teams Up with Allianz, Munich Re to Insure Its Cloud Users
Google is teaming up with two global insurers to cover cyber breaches and related risks for businesses that use its cloud services, the first time a major provider has opened up such insurance to its clients, the companies said on Tuesday. Major insurers have been treading carefully on cyber risks for years, but the tie-up… Continue reading Google Teams Up with Allianz, Munich Re to Insure Its Cloud Users
Allianz Buys Westpac Insurance Business
Allianz has acquired the Westpac general insurance business in a A$725 million deal that includes a 20-year agreement for distribution of products to the bank’s customers. The insurer says the transaction is an important step in building its consumer portfolio in Australia and builds on an existing relationship with Westpac, in place since 2015, that… Continue reading Allianz Buys Westpac Insurance Business