Allianz
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The carrier’s overall P&C combined ratio improved by 1.4 points to 91.6%. -
The underwriter departed Allianz earlier this year.
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The carrier is looking to achieve sustainable growth across its personal lines business.
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White will join from Allianz trade, and Summers from Talbot.
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Stephen Ridgers is leaving his current role as head of construction midcorp at Allianz Commercial.
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The report highlighted the gap between insured and uninsured attacks is widening.
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The toll of risk losses sustained by the PVT market this year is mounting.
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Plus, the latest people moves and all the top news of the week.
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The platform aims to “bend the loss curve”.
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The insurer’s plans for the syndicate were revealed by this publication earlier this year.
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Rates are bottoming out, but ample capacity is still preventing a hardening market.
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A number of staff will be leaving the D&O team as a result of the restructuring.
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The carrier’s overall P&C combined ratio improved 1.8 points to 91.2%.
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Doan Nguyen-Huu also succeeds Claudia Valencia Lascar as unit head.
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Incumbent Oskar Buchauer is stepping down after 27 years.
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Liberty Mutual, Allianz and Aviva previously had their appeals dismissed.
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Plus the latest people moves and all the top news of the week.
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Lloyd’s executives have suggested ceded reinsurance syndicates could help London compete in treaty.
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The carrier said the cuts will help it to become a “simpler, digital-led business”.
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The executive previously spent 15 years in a variety of roles at Zurich.
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Working out ROI on sponsorship deals is difficult, but the sport is beloved by insurance brands.
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Politically related exposures are growing for the marine market.
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While M&S had a cyber policy in place, Co-op and Harrods did not, Insurance Insider revealed.
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Plus the latest people moves and all the top news of the week.
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The carrier’s overall P&C combined ratio improved 0.1 points to 91.8%.
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Insurance Insider revealed earlier this week that the underwriter had resigned from Allianz.
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The Willis-brokered coverage also includes the Willis CyXS facility.
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New capacity continues to enter the hull market, and rates are falling.
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Insolvencies caused by the tariffs could also cause increased losses
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Newly appointed CEO Chris Jones also joins the board.
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Charles De Bar leaves Allianz after four years with the carrier.
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A positive outcome could significantly curb insurers’ exposure to the loss.
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A survey from the carrier looked at the political risk and violence concerns of companies.
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Allianz has previously entered several capacity arrangements with the MGA.
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des Cressonnières has worked for the carrier for 28 years.
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Of the 178 passengers and crew on board, no serious injuries have been reported.
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A collision earlier today caused a cargo of jet fuel to burst into flames.
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The company also announced a EUR2bn share buyback.
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The crash is the latest of several losses for aviation insurers in recent months.
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A new UK CEO for the trade credit insurer will be announced at a later date.
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The executive will report to Colm Holmes and Dick Volger in his new position.
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The biggest riser in this year’s Allianz Risk Barometer was climate change.
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The executive will look to develop the MGA’s specialty underwriting portfolio.
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The move follows objections from the Singapore government.
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The carrier revealed new group financial targets at its Capital Markets Day.
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Tillett succeeds Michela Moro who is returning to Italy, according to Allianz.
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Allianz’s P&C unit booked natural catastrophe claims of EUR646mn over Q3.
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Palestine Action alleges Allianz is involved in insuring the Israeli arms trade.
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Construction rates remain stable with some talk of potential softening.
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Mark Hartigan will move to chair following a spell as interim CEO.
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The former Aspen executive has resigned from AIG and will fill the vacant CEO role at the large corporate unit of the German carrier.
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The firm will split its global combined cat program into two layers.
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QBE has “effectively stopped writing new business” in response to its New Caledonia loss.
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The executive has spent fewer than 12 months in post.
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Plus the latest people moves and all the top news of the week.
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Allianz’s group profits were up on stronger investment results.
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Crashes and collisions accounted for 63% of aviation insurance claims between 2019 and 2024.
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Both parties expect to close the transaction on 1 August 2024.
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A roundup of all the news you need today, including Enstar EU’s new CEO.
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The transaction will make Allianz the fourth-largest composite insurer in Asia.
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Vanessa Maxwell will remain global head of financial lines.
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The agreement provides £10mn of capacity in several marine lines of business.
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Scott Sayce will join on 1 September and report to David Harries, group director of underwriting.
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Browne joins from Allianz Global Corporate & Specialty, where he was head of specialty.
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Jason Howes has also been promoted to chief transformation officer.
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Premium income was down due to lower volume in financial lines and alternative risk transfer.
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The news follows an announcement from the MGA last week that it has taken a Lloyd’s box.
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Ulrich Kadow will become global head of product management and underwriting transformation.
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Environmental activism and terrorist activity are also set to rise.
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The deal includes an LPT of ~$2bn loss reserves for 2016-2023 years with Arch Re.
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The marine hull market is looking to retain rating robustness in 2024.
