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QBE snags senior vice president from Allianz

By: Joyce Famakinwa

Published October 05, 2015 - 1:26pm CST

QBE North America, a division of QBE Insurance Group Ltd., has named former Allianz Global Corporate & Specialty executive Walter Grote senior vice president. The appointment was effective Oct. 2.

Global regulators finalize new capital rules for big insurers

By: Thomson Reuters

Published October 05, 2015 - 11:27am CST

(Reuters) — The world's nine biggest insurance companies will have to hold more capital under new rules finalized by global regulators that aim to prevent taxpayer bailouts of the industry in a crisis.

Hyperion, DUAL tap former Allianz exec as chairman

By: Joyce Famakinwa

Published October 02, 2015 - 3:24pm CST

DUAL International Ltd., the underwriting arm of Hyperion Insurance Group Ltd., said Friday it has appointed former Allianz S.E. board member Clem Booth as nonexecutive chairman of the board at DUAL and Hyperion.

Embattled VW looks to cut costs; directors and officers cover targeted

By: Judy Greenwald and Sarah Veysey

Published October 01, 2015 - 3:11pm CST

Volkswagen A.G., hit hard by an emissions scandal affecting millions of diesel VW and Audi cars, is seeking ways to cut its costs amid a flood of litigation, some of which looks to target its directors and officers insurance.

Embedded technologies driving cyber risks

By: Mark A. Hofmann

Published September 09, 2015 - 9:54am CST

The growing popularity of mobile devices is likely to increase cyber risk, according to a study released Wednesday by Allianz Global Corporate & Specialty S.E.

Lockton Brazil nabs ex-Allianz exec for deputy CEO post

By: Joyce Famakinwa

Published August 25, 2015 - 4:29pm CST

Lockton Cos. L.L.C. has appointed former Allianz Group executive Guilherme Perondi Neto as deputy CEO of their Brazilian subsidiary, Lockton Brazil.

Vacationing Czechs drive on the wild side

Published August 20, 2015 - 9:12am CST

Wild and crazy animal encounters are shaping up as a summer travel risk — especially for vacationers from the Czech Republic — based on reports from insurers.

Asia growth leading to larger windstorm losses

By: Mark A. Hofmann

Published August 18, 2015 - 11:02am CST

The potential for larger windstorm losses in Asia continues to increase because of population growth and an increase in exposed assets, among other factors, according to an analysis released Tuesday by Allianz Global Corporate & Specialty S.E.

Initial insurance losses from Tianjin blasts could reach $1.5 billion

Published August 17, 2015 - 9:27am CST

(Reuters) — Two explosions in the Chinese port of Tianjin that killed more than 100 people last week could generate total insurance losses of $1 billion to $1.5 billion, Credit Suisse analysts said, citing initial estimates based on Chinese media reports.

Allianz, Zurich receive damages claims from firms affected by Tianjin blasts

Published August 14, 2015 - 9:46am CST

(Reuters) — The Chinese units of European insurers Allianz S.E. and Zurich Insurance Group Ltd. said on Friday they received claims for unspecified damages from customer companies in the northeast city of Tianjin after two huge explosions in the port.

Allianz confident of earnings goal, Pimco improvement

Published August 07, 2015 - 9:18am CST

(Reuters) — Europe's biggest insurer, Allianz S.E., expects to reach the top of its operating profit target range this year, and Chief Executive Oliver Baete said asset management unit Pimco was picking up after two years of investor defections.

Boeing part reignites Malaysia jetliner mystery

By: Donna Mahoney

Published August 03, 2015 - 12:09pm CST

Last week's discovery of a Boeing 777 part washed up on the beach of the French island Reunion, reignites the mystery of missing Malaysia flight 370 that disappeared in March 2014.

Q&A: Art Moossmann, Allianz Global Corporate & Specialty North America

Published June 07, 2015 - 6:00am CST

Art Moossmann is New York-based president and CEO of Allianz Global Corporate & Specialty North America, having assumed that role this year. He is also a member of the board of management. After selling the personal lines business of Fireman's Fund Insurance Co. to Ace Ltd. late last year, Allianz Global Corporate & Specialty is now integrating the Fireman's Fund commercial portfolio. Mr.

Allianz says Pimco client outflows will hit profit

Published May 06, 2015 - 12:39pm CST

(Reuters) — Outflows of customer funds from U.S. investment manager Pimco will hurt earnings this year, and it is not yet possible to predict when flows might turn positive again, insurer Allianz S.E., its owner, warned on Wednesday.

USI beefs up builder’s risk program

By: Shelby Livingston

Published April 06, 2015 - 2:58pm CST

USI Insurance Services L.L.C. has launched a builder’s risk program for projects of all sizes and types that expands the coverage terms typically offered to middle market customers, the Valhalla, New York-based brokerage announced Monday.

AIG, Allianz unit argue over credit default swaps exposure

By: Mark A. Hofmann

Published April 03, 2015 - 10:50am CST

American International Group Inc. is promising to “vigorously” defend itself against charges by Pacific Investment Management Co. that it had misled investors about its exposure to risky investments that led to the insurer’s near-collapse in 2008.

Germanwings crash families must prepare for differing payouts

Published April 02, 2015 - 9:28am CST

(Reuters) — Families of those killed aboard the Germanwings flight are likely to receive vastly different payouts depending on their nationality, where they bought the ticket, and how much they earned.

Germanwings' insurers liable for crash claims

By: Sarah Veysey

Published March 30, 2015 - 3:38pm CST

The insurers of the Germanwings plane that crashed last week killing all 150 people on board will be liable to pay claims of about $300 million even if it is established that the co-pilot deliberately crashed the flight.

Germanwings loss pressures aviation war insurers

By: Judy Greenwald

Published March 30, 2015 - 2:02pm CST

Last week's crash of the Germanwings plane in which all 150 aboard were killed will put further pressure on the already “beleaguered” aviation war sector, says A.M. Best Co. Inc. in a special report issued Monday.

Allianz leads insurance coverage on Germanwings crash

By: Sarah Veysey

Published March 24, 2015 - 8:39am CST

Allianz S.E. is the lead insurer of the coverage for the Germanwings GmbH plane that crashed in the French Alps on Tuesday.

Fireman's Fund to pay $44 million to settle U.S. charges

Published March 23, 2015 - 3:01pm CST

(Reuters) — Fireman's Fund Insurance Co. agreed to pay $44 million to settle U.S. charges that it knowingly issued policies that did not qualify for the U.S. Department of Agriculture's federal crop insurance program, and also falsified documents.

Allianz hedges stake in Chinese insurer through deal with Goldman

Published March 19, 2015 - 9:12am CST

(Reuters) — Allianz S.E. struck a deal with Goldman Sachs to help the German company hedge part of its stake in China Pacific Insurance Group and lock in profits from two rounds of investments that Allianz made in China’s third-largest insurer.

Allianz earnings and dividend disappoint, shares down

Published February 26, 2015 - 9:21am CST

(Reuters) — German insurer Allianz S.E. raised its dividend less than expected after earnings in its core property/casualty insurance businesses lagged and asset management stalled following client defections at its U.S. unit Pimco.

E.U. watchdog to aid insurers' infrastructure investment

Published February 04, 2015 - 11:35am CST

(Reuters) — The E.U.'s insurance watchdog wants to help insurers make safe investments in infrastructure projects as politicians encourage them to invest to help boost Europe's struggling economy.

AirAsia's insurers see 'no problems' with claims: Indonesia regulator

Published January 06, 2015 - 9:41am CST

(Reuters) — Insurers have begun processing claims in the crash of an Indonesia AirAsia aircraft last month and hope to identify the beneficiaries by the end of January, an official from Indonesia's financial regulator said Tuesday.

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