Allianz
-
The carrier joins a growing number of peers withdrawing targets because of Covid-19 uncertainty.
-
BBVA will contribute insurance operations with GWP of about $325mn last year to a new joint venture.
-
The deal was subject to speculation in October but has come in below the expected EUR1bn value.
-
Oliver Baete tells Bloomberg that the pandemic was like a “meteorite” for the insurance industry.
-
The former AGCS specialty CUO replaces Stuart Beatty, who will lead the reinsurance broking unit in the region.
-
Ali Shahkarami will take on the newly created role and report to COO Bettina Dietsche.
-
The executive will be North American reinsurance head for Allianz’s risk transfer division.
-
The portfolio is understood to give Continental access to over $50mn of new business.
-
Loeiz Limon-Duparcmeur replaces Chantal Schumacher, who moves to a role at parent Allianz.
-
Current business is expected to go to London or Asia, with 23 local employees affected by the closure.
-
Executives cite strong rate growth as they predict a 2021 AGCS combined ratio of 97 percent. -
Nine cedants including Allianz and Generali were involved in the pilot.
