Allianz Global Corporate & Specialty (AGCS) News

Shipping Losses at Record Lows, but COVID-19 Impact Could Threaten Safety: Allianz

Large shipping losses dropped by 20% last year, in a continuation of decade-long trend when losses declined by almost 70%, according to a report published by Allianz Global Corporate & Specialty (AGCS). However, the report warned that the coronavirus crisis …

Allianz Global Corporate & Specialty Restructures to ‘Regain Profitability’

Allianz Global Corporate & Specialty (AGCS), the industrial insurer of Allianz Group, is embarking on restructuring program, designed “to regain profitability and market leadership in the corporate and specialty insurance segment.” The transformation program, which is called “New AGCS,” is …

S&P’s Outlook for AGCS Revised to Negative on ‘Weak Underwriting Performance’

S&P Global Ratings has revised its outlook on Allianz Global Corporate & Specialty SE (AGCS) to negative from stable, while at the same time affirmed the insurer’s “AA” financial strength and issuer credit ratings. The outlook revision reflects S&P’s view …

Allianz Global Corporate & Specialty Launches ‘Cyber Protect’ Product for UK Market

Allianz Global Corporate & Specialty (AGCS) announced the launch of a new Allianz Cyber Protect product in the UK. AGCS, Allianz’s entity for large-scale corporate and specialty risks, released its new Allianz Cyber Protect policy that provides a full suite …

Allianz Group Appoints Richter to Lead Cyber Center of Competence

Dr. Catharina Richter will be appointed global head of Cyber Center of Competence for Allianz Group, effective June 1, 2020. The Cyber Center of Competence (CoC) coordinates and steers cyber risk underwriting and governance across Allianz Group and is embedded …

Allianz Global Corporate & Specialty Names Shahkarami as 1st Chief Data Officer

Ali Shahkarami (46) has been appointed as chief data officer for Allianz Global Corporate & Specialty (AGCS). In this newly created position, he will be responsible for the development and the delivery of AGCS data strategy and will report directly …

AGCS Appoints Haagen as Chief Underwriting Officer Specialty, Succeeding O’Neill

Allianz Global Corporate & Specialty SE (AGCS), the corporate insurance carrier of Allianz Group, appointed Henning Haagen as chief underwriting officer specialty and member of the board of management, subject to regulatory approval. Effective March 1, 2020, Haagen will succeed …

Cyber Ranks as Top Peril for Companies Globally for 1st Time: Allianz Survey

Cyber incidents rank for the first time as the most important business risk globally, pushing the perennial top peril, business interruption (BI), into second place, according to the ninth Allianz Risk Barometer 2020. Cyber incidents were named by 39% of …

Directors and Officers Face Significantly Higher Range of Risks: Allianz Report

The range of risks facing company executives, or directors and officers (D&Os), has increased significantly in recent years along with resulting insurance claims, according to a report published by Allianz Global Corporate & Specialty (AGCS). Titled “Directors and Officers Insurance …

Müller Succeeds Fischer Hirs as CEO of AGCS; Allianz Germany Appoints Executives

Allianz Global Corporate & Specialty SE (AGCS) and Allianz Deutschland AG announced leadership changes that will take effect from Dec. 1, 2019, subject to regulatory approval. Joachim Müller, currently CEO of Allianz Versicherungs-AG (the property & casualty insurer of Allianz …