Allianz

The carrier is looking to achieve sustainable growth across its personal lines business.

White will join from Allianz trade, and Summers from Talbot.

Stephen Ridgers is leaving his current role as head of construction midcorp at Allianz Commercial.

The report highlighted the gap between insured and uninsured attacks is widening.

The toll of risk losses sustained by the PVT market this year is mounting.

Plus, the latest people moves and all the top news of the week.

The platform aims to “bend the loss curve”.

The insurer’s plans for the syndicate were revealed by this publication earlier this year.

Rates are bottoming out, but ample capacity is still preventing a hardening market.

A number of staff will be leaving the D&O team as a result of the restructuring.

The carrier’s overall P&C combined ratio improved 1.8 points to 91.2%.

Doan Nguyen-Huu also succeeds Claudia Valencia Lascar as unit head.

Incumbent Oskar Buchauer is stepping down after 27 years.

Liberty Mutual, Allianz and Aviva previously had their appeals dismissed.

Plus the latest people moves and all the top news of the week.

Lloyd’s executives have suggested ceded reinsurance syndicates could help London compete in treaty.

The carrier said the cuts will help it to become a “simpler, digital-led business”.

The executive previously spent 15 years in a variety of roles at Zurich.

Working out ROI on sponsorship deals is difficult, but the sport is beloved by insurance brands.

Politically related exposures are growing for the marine market.

While M&S had a cyber policy in place, Co-op and Harrods did not, Insurance Insider revealed.

Plus the latest people moves and all the top news of the week.

The carrier’s overall P&C combined ratio improved 0.1 points to 91.8%.

Insurance Insider revealed earlier this week that the underwriter had resigned from Allianz.

The cyber head joins from Allianz Commercial.

The Willis-brokered coverage also includes the Willis CyXS facility.

New capacity continues to enter the hull market, and rates are falling.

Insolvencies caused by the tariffs could also cause increased losses

Newly appointed CEO Chris Jones also joins the board.

Charles De Bar leaves Allianz after four years with the carrier.

A positive outcome could significantly curb insurers’ exposure to the loss.

A survey from the carrier looked at the political risk and violence concerns of companies.

Allianz has previously entered several capacity arrangements with the MGA.

des Cressonnières has worked for the carrier for 28 years.

Of the 178 passengers and crew on board, no serious injuries have been reported.

A collision earlier today caused a cargo of jet fuel to burst into flames.

The company also announced a EUR2bn share buyback.

The crash is the latest of several losses for aviation insurers in recent months.

A new UK CEO for the trade credit insurer will be announced at a later date.

The executive will report to Colm Holmes and Dick Volger in his new position.

The biggest riser in this year’s Allianz Risk Barometer was climate change.

The executive will look to develop the MGA’s specialty underwriting portfolio.

The move follows objections from the Singapore government.

The carrier revealed new group financial targets at its Capital Markets Day.

Tillett succeeds Michela Moro who is returning to Italy, according to Allianz.

Allianz’s P&C unit booked natural catastrophe claims of EUR646mn over Q3.

Palestine Action alleges Allianz is involved in insuring the Israeli arms trade.

Construction rates remain stable with some talk of potential softening.

Mark Hartigan will move to chair following a spell as interim CEO.

The former Aspen executive has resigned from AIG and will fill the vacant CEO role at the large corporate unit of the German carrier.

The firm will split its global combined cat program into two layers.

QBE has “effectively stopped writing new business” in response to its New Caledonia loss.

The executive has spent fewer than 12 months in post.

Plus the latest people moves and all the top news of the week.

Allianz’s group profits were up on stronger investment results.

Crashes and collisions accounted for 63% of aviation insurance claims between 2019 and 2024.

Both parties expect to close the transaction on 1 August 2024.

A roundup of all the news you need today, including Enstar EU’s new CEO.

The transaction will make Allianz the fourth-largest composite insurer in Asia.

Vanessa Maxwell will remain global head of financial lines.

The agreement provides £10mn of capacity in several marine lines of business.

Scott Sayce will join on 1 September and report to David Harries, group director of underwriting.

Browne joins from Allianz Global Corporate & Specialty, where he was head of specialty.

Jason Howes has also been promoted to chief transformation officer.

Premium income was down due to lower volume in financial lines and alternative risk transfer.

The news follows an announcement from the MGA last week that it has taken a Lloyd’s box.

Ulrich Kadow will become global head of product management and underwriting transformation.

Environmental activism and terrorist activity are also set to rise.

The deal includes an LPT of ~$2bn loss reserves for 2016-2023 years with Arch Re.

The marine hull market is looking to retain rating robustness in 2024.

Mo joins from Chubb, where she was country manager for Sweden.

All three carriers also announced increased dividends.

The segment’s combined ratio improved to 94.5%.

The carrier has also hired Henry Henderson from Liberty.

The appointment comes following the appointment of Ahad Khalid as head of power.

It emerged in November that the carrier’s construction head Daniel Abramson was leaving the business.

Political violence rose up the agenda, with conflict raging globally, and key elections due this year.

Directors and officers face an increased risk of litigation next year, according to a report.

The incoming AGCS CEO joined the carrier in 1998 and was most recently CEO of Central Europe.

The carrier has made several senior hires in energy and construction this year.

Allianz Trade recently announced that Stennett's role is being taken on by Peter Evola.

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.

Reports show that the combined use of supply chain exploitation and data exfiltration is causing double-digit million-dollar losses for cyber insurers.

Valencia will drive the carrier’s strategy for portfolios including panels, facilities, MGAs, bancassurance and other forms of delegated authority.

The business was absorbed into AGCS from the former Fireman’s Fund portfolio.

The top five insurers on the continent maintained their ‘clear dominance’ in terms of scale.

Talanx, Groupama and Itas had shown interest in the P&C business.

Elke Vagenende will lead the newly established region, completing Allianz’s leadership team across 11 regions.

The capacity, provided by Allianz, will allow Hive to deepen its exposure in the class.

In the new role, Giulio Terzariol will take on responsibility for the firm's insurance business units.

The carrier is rebuilding its financial lines team following a number of staff exits from the division.

Inflation, supply chain bottle necks and issues with emerging technology are all challenges for the sector.

Haagen leaves after a 15-year tenure at Allianz, having been a board member of AGCS since early 2020.

The underwriter is returning to the company after stints at TransRe and Liberty Specialty Markets.

The carrier exited the Net Zero Insurance Alliance in May among other insurers.

Downstream underwriters have been pushing for rate this year following high claims activity in 2022.

AGCS confirmed that hull underwriter Ashley Hammond is staying with the business.

The commercial lines unit increased premiums by 7%, with rate rises up 7% year to date.

The liquidity will come from institutional capital, banks and credit funds, facilitated by Trade Finance Global and its partners, including Allianz Trade.

Other bidders included France's Groupama and Italy's Itas.

Staffing turmoil is ongoing in the marine market as companies vie to secure talent.

Under Allianz’s Integrated Commercial strategy, each region will be led by a commercial managing director.

Anthony Vassallo will focus on developing AGCS’s natural resources proposition, reporting to global head of specialty Gordon Browne.

Simon McGinn joined Allianz in 2004 and was made CEO of Allianz Commercial in 2021.

A variety of challenges remain, including the operation of Russia’s ‘shadow fleet’ for oil transport.

After founder members Axa and Allianz dealt a potentially terminal blow to the Net-Zero Insurance Alliance by withdrawing, the NZIA is exploring limited options to continue.

Sompo is the eighth major insurer to leave the NZIA, casting even further doubt on its future as remaining members explore options around whether to continue.

Both Axa and Allianz said their own targets on sustainability and reducing emissions remain unchanged.