Allianz News

Cyber and Business Interruption Top 2023 Threats: Allianz Risk Barometer

According to Allianz’s Risk Barometer 2023, cyber incidents and business interruption rank as the biggest company concerns for the second year in a row. At the same time, macroeconomic developments such as inflation, financial market volatility and a looming recession, …

Fund Managers Frustrated Over Confusing ESG Regulations

After a turbulent few weeks during which some of the world’s biggest asset managers removed coveted ESG tags from huge chunks of their business, industry bosses have had enough. Managers running the funds affected are now talking openly of the …

Allianz CEO Baete Sees ‘Huge Opportunity’ From Asset Management in China

Allianz SE sees a “huge opportunity” from asset management in China because the nation needs to diversify overseas investments, its chief executive officer said. Chinese investors need to diversify, which requires advice on how to invest in Europe or US …

Update: Amazon Launches Home Insurance Comparison Website for UK Customers

Amazon.com Inc. is launching a home insurance portal in Britain and has signed up three big-name insurers as it pushes further into financial services across the globe. Ageas UK, Co-op, and LV= General Insurance, a unit of German insurer Allianz, …

Insurers Win Key Parts of Stonegate COVID-19 Business Interruption Case: MS Amlin

Insurers have won key parts of a complex legal battle with British pubs group Stonegate, MS Amlin said after Monday’s judgment on the 1 billion pound ($1.13 billion) lawsuit against three top insurers over losses related to coronavirus. Insurers have …

Allianz’s Digital Investments Arm Acquires German Insurtech simplesurance

Allianz X, the digital investments arm of Allianz Group, will acquire 100% of the shares in Berlin-based simplesurance. Allianz X has been a strategic investor in the Berlin-based insurtech company since 2016 and most recently expanded its involvement in 2019. …

People Moves: Gambale Joins AGCS From AIG; AXA XL Appoints 2 to Group Captives Unit

AGCS Strengthens North American Distribution Team with Strategic New Hire and Reorganization Allianz Global Corporate & Specialty (AGCS) has named John Gambale as regional head of distribution NA, large corporate, effective Oct. 3. He will be based in New York …

Fire a Growing Risk to Shipping Because of Lithium-ion Batteries, Allianz Says

Fire has always been a peril for shipping, but the advent of lithium-ion batteries has elevated the risk to the point that it now is the most expensive cause of loss for the industry, according to a new bulletin issued …

Allianz in Talks With Chinese Banks to Launch Asset Management Venture: Sources

Allianz SE is in talks with Chinese banks to set up a majority-owned asset management venture in the world’s second-largest economy, two people with direct knowledge of the matter said, aiming to tap a $4.3 trillion market for wealth products. …

Allianz Weighs Sale of Stake in Saudi Arabia Unit

Allianz SE is considering a sale of its Saudi Arabian unit, people familiar with the matter said, a move that would help the German insurer streamline its portfolio and raise cash. The German insurer is working with an adviser on …