Latest Allianz Headlines
All the headlines from our Allianz Topic Page, ordered by recency.
Allianz Asset Management Hit by PIMCO Outflows, Although Reversal Expected
May 11 2016 // Allianz Asset Management reported a 17 percent decline in first-quarter earnings as investors continued to withdraw money from its Pacific Investment Management Co. unit 19 months after the ouster of Chief Investment...
Allianz Q1 Profit Rises 21% to $2.5B, Helped by Gains from Selling Investments
May 3 2016 // Allianz SE said first-quarter profit surged 21 percent, beating analysts’ estimates, as Europe’s biggest insurer was helped by gains from selling investments. The shares rose. Net income climbed to 2.2 billion...
French Startup Drivy (‘Airbnb for Cars’) Raises $35M to Expand; Insured by Allianz
Apr 28 2016 // Drivy, a French startup that lets people hire out their cars in much the same way Airbnb runs a market for houses, said Thursday it raised 31 million euros ($35 million) to fund its continued expansion across...
Vollert Appointed CEO of AXA Germany, Joining from Allianz in September
Apr 8 2016 // AXA announced the appointment of Alexander Vollert as chief executive officer of AXA Germany. In addition, he will be appointed to AXA Group’s executive committee. This appointment will be effective as of Sept. 16,...
UK’s Allianz Commercial Doubles Excess Liability Capacity to £50M ($70.5M)
Apr 8 2016 // Allianz Commercial* announced it has increased its capacity for excess of loss cover, which will now allow brokers to purchase excess liability cover up to £50 million ($70.5 million) per individual class of business. The...
Fintech Revolution May Threaten 250,000 Jobs as Europe Insurers Seek Cost Cuts
Apr 7 2016 // The rush is on to replace people with software in Europe’s insurance industry as cost cutting and automation become increasingly crucial to bolstering earnings. Zurich Insurance Group AG is accelerating its cost...
Anbang Insurance to Acquire Allianz’s South Korea Operations
Apr 6 2016 // Anbang Insurance Group Co., which walked away from a bid to acquire Starwood Hotels & Resorts Worldwide Inc. last week, has agreed to buy Allianz SE’s operations in South Korea. The Chinese insurer will purchase...
Shipping Industry Had Safest Year in a Decade in 2015: Allianz Report
Mar 22 2016 // The shipping industry saw its safest year in a decade in 2015, according to a new report from Allianz Global Corporate & Specialty (AGCS), with 85 total losses reported worldwide last year, down from 88 in 2014 and...
Court Rules ‘Bond King’ Gross Can Pursue $200M Lawsuit Against Allianz’ PIMCO
Mar 15 2016 // Bond manager Bill Gross will be able to pursue his lawsuit to recoup at least $200 million he claims that Pacific Investment Management Co. owes him in the wake of his 2014 ouster from the firm he co-founded. California...
Allianz Plans to Sue VW over Share Drop Caused by Emissions Scandal: Source
Mar 9 2016 // German insurer Allianz plans to sue Volkswagen over the sharp drop in its shares as a result of the carmaker’s diesel emissions scandal, a source familiar with the situation told Reuters. If successful, the lawsuit...
Chubb’s Hearden, Allianz’s LePiane Join Hiscox Professional Risks
Mar 2 2016 // Specialty insurer Hiscox announced senior executive hires to its Professional Risks division, which writes liability coverage for professionals in the technology, architects and engineering, accounting, financial services,...
Allianz Launches Workers’ Comp Unit for Aviation Risks
Mar 2 2016 // Allianz Global Corporate & Specialty (AGCS) has entered into an agreement with the National Air Transportation Association (NATA) through which it has established a new aviation workers’ compensation department....
Allianz Puts South Korean Life Insurance Unit on Block: Sources
Feb 24 2016 // Europe’s largest insurer Allianz has put its South Korean life insurance business on the block as part of a global overhaul in a tough low-interest rate environment, sources with direct knowledge of the matter...
Allianz, AXA & Sompo to Distribute Products Across Asia via CIMB Bank Branches
Feb 19 2016 // Allianz SE, AXA SA and Sompo Japan Nipponkoa Holdings Inc. made final bids for the rights to distribute their general insurance products through CIMB Group Holdings Bhd.’s branches across Asia, people with knowledge...
Allianz Q4 2015 Profit Rises to $1.6B on Cat Claims; Lower Than Analyst Estimates
Feb 19 2016 // Allianz SE missed analyst estimates for fourth-quarter profit because of claims from natural catastrophes. Net income at Europe’s biggest insurer increased to 1.42 billion euros ($1.6 billion) in the quarter from...
Reinsurers’ Loss Reserves Dwindle While Rates Continue to Drop: Allianz Re CEO
Feb 18 2016 // Reinsurers are running out of claims reserves that they can release to boost profits as pricing continues to fall, according to the head of Allianz SE’s reinsurance unit. “I don’t think there are too many...
Allianz Transfers $1.1B of Policy Obligations to Reinsurer Enstar, Limiting US Risks
Feb 18 2016 // Allianz SE, Europe’s biggest insurer, struck a deal to limit risks in the U.S. by transferring policy obligations to reinsurer Enstar Group Ltd. Enstar will assume net reinsurance reserves of about $1.1 billion and...
Allianz to Buy Aegon’s Commercial P&C Portfolio in the Netherlands
Jan 22 2016 // Allianz has agreed to acquire the commercial P&C portfolio of Aegon in the Netherlands. Details of the transaction were not disclosed. Allianz’s P&C market share in the Netherlands will rise from 4.4 percent...
Allianz Global Creates North America Crisis Management Unit
Jan 7 2016 // Allianz Global Corporate & Specialty (AGCS) announced it has launched a Crisis Management division to assist its North American clients. Marcos Garcia Norris has been named crisis management regional practice group...
Catalina Completes Allianz Suisse Re Acquisition
Dec 18 2015 // Catalina Holdings (Bermuda) Ltd. announced that, following receipt of regulatory approvals from the FINMA the Swiss financial regulator, it has completed its acquisition of Allianz Suisse Ruckversicherungs-Gesellschaft AG...
