Allianz

It wasn’t the huge fund management acquisition that Allianz executives had been doing their level best to downplay in recent weeks.

Terzariol says big fund management purchases often “look good on PowerPoint presentations” only.

The broker will head up a structured solutions unit advising on bespoke cover for clients with complex needs.

The carrier has set an initial reserve of EUR50mn for the loss.

AGCS profit falls 23 percent after absorbing losses from the Boeing grounding and the Vale dam collapse.

Allianz, Swiss Re or, let’s be honest – Convex – would have been better for John Neal. But Samsung Fire & Marine’s decision to buy into Lloyd’s business Canopius represents a highly positive codicil to last week’s strategy announcement.

The acquisition of the general insurance arm would increase the German insurer’s presence in the UK.

London-based D&O writers have “woken up” to the threat of creeping claims frequency and severity, sources said.

Legal discussions between the carriers relate to the $110mn hull payout for the Boeing 777 airliner.

In an interview, Giulio Terzariol says any asset management acquisitions would have to provide something the German carrier lacks.

Allianz Global Corporate & Specialty has appointed HartMut Mai head of regional business in central and eastern Europe, Mediterranean and Africa.

Shares in the potential suitor are unmoved, while DWS closed up about 9 percent.