Two of Europe’s largest insurers are gearing up to sell billions of euros in life assets — a niche corner of dealmaking keeping bankers busy amid the coronavirus pandemic. Allianz SE is planning to divest as much as 9 billion …
German insurer Allianz said on Tuesday that a key measure of capital may fall below the company’s target floor level as it faces claims for disruption caused by the coronavirus crisis. Allianz, which earlier reported a nearly 30% slump in …
Britain’s Financial Conduct Authority (FCA) aims to get business interruption insurance policies examined by a court as soon as July, a member of a policyholder action group said on Thursday. The Hiscox Action Group, which is seeking to sue Hiscox …
Two law firms said on Tuesday they were gathering companies in Britain for a potential group lawsuit against German insurer Allianz for rejecting business interruption claims during the coronavirus pandemic. Edwin Coe and Harris Balcombe said they wanted to challenge …
Allianz SE withdrew its forecast for the year as Europe’s biggest insurer struggles with the fallout from the Covid-19 pandemic. Given the economic uncertainty, the board “does not assume that Allianz can achieve the target range for operating profit for …
Allianz SE Chief Executive Officer Oliver Baete warned the coronavirus has upended insurers’ business models and will cause “massive” losses across the industry. The virus has forced closures across the entire economy and not just in a limited number of …
Italy’s biggest insurer Generali on Friday said it would pay its 2019 dividend in two tranches, confirming a total payout of 0.96 euros per share, citing its strong capital position. The announcement flies in the face of calls by industry …
British insurers Admiral, Aviva and Direct Line are no longer offering travel insurance to new customers, they said on their websites on Friday. “The ongoing global situation with coronavirus means there’s much greater likelihood of disruption to people’s travel plans, …
Markets are overreacting to the threat of the rapidly spreading coronavirus and the global economy will only see a short-term impact, said the head of Allianz SE, Europe’s biggest insurer. Chief Executive Officer Oliver Baete said the firm was more …
German insurance group Allianz announced a more ambitious profit target for this year after posting a better than expected 9.5% jump in fourth-quarter net profit on Friday. The profit increase was largely driven by an improved investment margin in its …
