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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.

Third aviation disaster of 2014 could result in higher insurance rates

By: Matthew Lerner

Published January 04, 2015 - 6:00am CST

The third major commercial aviation disaster of 2014, all of which were reinsured by Allianz S.E., could ultimately result in higher insurance rates.

Allianz lead reinsurer of missing AirAsia plane

Published December 29, 2014 - 8:58am CST

(Reuters) — Allianz S.E. could be exposed to claims of at least $100 million linked to the AirAsia Bhd. jet missing off the Indonesian coast, which would be the third major airline accident it has been exposed to this year.

Involve risk managers early with international corporate acquisitions

By: Judy Greenwald

Published December 09, 2014 - 9:47am CST

SINGAPORE — Problems can arise when there is a delay in bringing risk managers into discussions about international acquisitions, said a speaker at the Pan-Asia Risk & Insurance Management Association's Asian Risk Management Conference.

Cyber attacks, drones increase threats to plane safety: Allianz

Published December 04, 2014 - 9:21am CST

(Reuters) — Cyber attacks and commercial drones pose a growing risk of commercial airplane crashes, a major insurer said, running counter to a long-term decline in fatal accidents and insurance premiums.

E.U. watchdog expects quick action from insurer stress tests

Published December 01, 2014 - 8:45am CST

(Reuters) — The European Union's insurance watchdog said Monday it expected rapid action from insurers and supervisors to address weaknesses in capital and business models it had identified in a series of stress tests.

Allianz shares jump as dividend vow offsets Pimco concerns

Published November 07, 2014 - 10:50am CST

(Reuters) — Shares in Allianz S.E. jumped more than 5% on Friday after the German insurer promised bigger dividend payouts having posted a forecast-beating jump in third-quarter profit.

Insurers, U.K. government working to improve cyber security

By: Sarah Veysey

Published November 05, 2014 - 10:02am CST

LONDON — The U.K. government and a group of leading insurers pledged Wednesday to work together to find ways to better improve cyber security and to develop cyber insurance products and services available for businesses.

International group introduces capital standard formula for insurers

By: Mark A. Hofmann

Published October 23, 2014 - 1:56pm CST

The International Association of Insurance Supervisors on Thursday said it has developed the first global insurance capital standard.

Medical evacuation services draw line at flying out Ebola patients

Published October 10, 2014 - 1:37pm CST

(Reuters) — Leading companies offering medical evacuation services are drawing a line at flying Ebola patients out of West Africa for treatment abroad as the cost and the complexities of the deadly epidemic grow.

OFF BEAT: International walkabouts gone wrong

Published October 07, 2014 - 9:28am CST

What does a cheeseburger have in common with a rhino?

Allianz appoints new CEO to take helm in 2015

By: Matthew Lerner

Published October 02, 2014 - 11:54am CST

Allianz S.E. has appointed Oliver Bäte to succeed Michael Diekmann as CEO of the German insurer, effective May 7, 2015, the company said in a statement Thursday.

Allianz CEO likely to get 2 more years

Published September 29, 2014 - 9:52am CST

(Reuters) — Allianz is set to extend the contract of its Chief Executive Michael Diekmann by two years as the German insurer seeks to smooth the turmoil over leadership change at its Pimco subsidiary, a German newspaper reported.

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