Allianz
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Allianz Trade recently announced that Stennett's role is being taken on by Peter Evola.
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Profits were down 14.6% at group level to EUR3.46bn, which Allianz attributed to the P&C business segment, where nat cats had a 7.3-point impact on the combined ratio, the highest reported in a decade.
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Reports show that the combined use of supply chain exploitation and data exfiltration is causing double-digit million-dollar losses for cyber insurers.
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Valencia will drive the carrier’s strategy for portfolios including panels, facilities, MGAs, bancassurance and other forms of delegated authority.
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The business was absorbed into AGCS from the former Fireman’s Fund portfolio.
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The top five insurers on the continent maintained their ‘clear dominance’ in terms of scale.
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Talanx, Groupama and Itas had shown interest in the P&C business.
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Elke Vagenende will lead the newly established region, completing Allianz’s leadership team across 11 regions.
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The capacity, provided by Allianz, will allow Hive to deepen its exposure in the class.
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In the new role, Giulio Terzariol will take on responsibility for the firm's insurance business units.
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The carrier is rebuilding its financial lines team following a number of staff exits from the division.
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Inflation, supply chain bottle necks and issues with emerging technology are all challenges for the sector.
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