Allianz names chief agent for Canada

By: Anna Gaynor

Published May 09, 2013 - 12:03pm CST

Allianz S.E. has named Kevin Leong as chief agent for Canada with Allianz Global Corporate & Specialty A.G., effective Aug. 1.

Allianz sees increased profits in 2013 first quarter

By: Sarah Veysey

Published May 07, 2013 - 9:45am CST

Allianz S.E. said its net income for the first quarter of 2013 was €1.7 billion ($2.23 billion), compared with €1.4 billion ($1.87 billion) for the first three months of 1012.

Unipol says Allianz, Axa, Zurich eyeing assets

Published May 02, 2013 - 10:00am CST

(Reuters) — Italian insurer Unipol Gruppo Finanziario S.p.A. has received 10 to 15 expressions of interest for €1.7 billion ($2.24 billion) in assets it must sell as part of a merger with peer Fondiaria-Sai S.p.A., the company's CEO said on Thursday.

Allianz disputes lawsuit alleging liability for another insurer's failure

By: Bill Kenealy

Published March 28, 2013 - 2:37pm CST

Allianz S.E. on Thursday said it will vigorously push back against a lawsuit filed last week in Florida that asserts the company is responsible for the demise of Magnolia Insurance Co.

Florida sues Allianz over actions that led to insolvency

By: Bill Kenealy

Published March 27, 2013 - 2:56pm CST

The Florida Department of Financial Services filed civil suit against Allianz SE and some of its subsidiaries last week, alleging that Allianz's actions led to the insolvency of now defunct Magnolia Insurance Company.

Allianz posts higher profit, premiums

By: Mark A. Hofmann

Published February 21, 2013 - 9:43am CST

Allianz S.E.’s 2012 net income rose 103.1% over that of 2011 to €5.2 billion ($6.95 billion), Munich-based Allianz said Thursday.

Allianz reinsurance unit receives license to operate in Brazil

By: Bill Kenealy

Published January 15, 2013 - 12:04pm CST

Allianz Global Corporate & Specialty A.G., a unit of Munich-based Allianz S.E., has established Allianz Global Corporate & Specialty Resseguros Brasil S.A. to enter the South American reinsurance market, Allianz announced Tuesday.

Allianz reports Superstorm Sandy losses of $607M

By: Sarah Veysey

Published January 15, 2013 - 9:17am CST

Allianz S.E. said Tuesday that its losses from Superstorm Sandy, which ravaged areas of the eastern seaboard of the United States and the Caribbean in October, are about €455 million ($607.1 million).

Shipping sees advances in safety, technology, training: Allianz

By: Sarah Veysey

Published January 08, 2013 - 9:44am CST

While the number of ships lost worldwide increased in 2012 compared with the previous year, improvements in safety, training and technology drove a 27% decrease on the 10-year average of losses, according to a report by Allianz S.E.

Various insurance options available to firms hit by port strikes

By: Judy Greenwald

Published December 07, 2012 - 2:32pm CST

Depending on policy language, trade disruption insurance, business interruption coverage or even traditional first-party property coverage could come into play for firms hit by the Los Angeles port strike and anticipated strikes on the U.S. East and Gulf coasts, observers say.

Allianz Global Corporate & Specialty names new global head of reinsurance

By: Anna Gaynor

Published December 06, 2012 - 12:16pm CST

Allianz Global Corporate & Specialty has announced a new global head of reinsurance.

Insurer Allianz's profits rise in first nine months of 2012

By: Bill Kenealy

Published November 09, 2012 - 11:22am CST

Citing strong underwriting results, Allianz S.E. reported net income of €4.20 billion ($5.39 billion) on Friday, an 87.3% increase over the same period in 2011.

New group focuses on serving private clients

Published November 06, 2012 - 12:15pm CST

Dallas-based electronic insurance exchange MarketScout announced this week the creation of the Council for Insuring Private Clients.

Big insurers face curbs on risky activities

Published May 31, 2012 - 10:48am CST

LONDON (Reuters)—Top insurers face curbs within five years on risky "non-traditional" activities, global regulators said on Thursday as they seek to avoid a repeat of American International Group Inc.'s huge taxpayer bailout in the financial crisis.

Top insurer pulls cover for exports to Greece

Published May 30, 2012 - 9:47am CST

FRANKFURT/LONDON (Reuters)—The world's biggest trade credit insurer, Euler Hermes, has stopped covering exporters shipping to Greece because of the mounting risk of them not getting paid in the event the debt-laden nation is forced out of the euro.

Allianz wary of euro zone shocks after strong quarter

Published May 15, 2012 - 9:46am CST

FRANKFURT (Reuters)—Allianz S.E. warned on Tuesday that fallout from the euro zone crisis could cause it to stumble even though Europe's biggest insurer reported a 40% jump in first quarter earnings.

Allianz's preliminary results show 60% rise in first-quarter net income

By: Bill Kenealy

Published May 09, 2012 - 1:11pm CST

MUNICH—Net income for Allianz S.E. in the first quarter of 2012 topped €1.4 billion ($1.83 billion), up nearly 60% from the €915 million ($1.20 billion) over the same period in 2011, according to preliminary figures released Wednesday.

S&P lowers ratings on several European insurers, subsidiaries

By: Mark A. Hofmann

Published January 17, 2012 - 3:05pm CST

LONDON—Standard & Poor's Corp. on Tuesday lowered its ratings on several European insurers and some of their subsidiaries.

Economic, business interruption, natural catastrophes top risk manager worries: Survey

By: Rodd Zolkos

Published January 16, 2012 - 2:04pm CST

Economic risks, business interruption and natural catastrophes top the list of major business risks worrying risk management professionals, according to a new report.

Best downgrades ratings of Allianz unit, cites eurozone exposures

By: Judy Greenwald

Published December 19, 2011 - 2:23pm CST

OLDWICK, N.J.—A.M. Best Co. Inc. on Monday downgraded the issuer credit rating of Allianz Global Corporate & Specialty North America, citing similar action last week concerning its parent company, because of its exposure to the European economy.

Contagion biggest threat to insurers in Greek crisis

Published June 30, 2011 - 11:44am CST

LONDON (Reuters)—Greece’s debt crisis has stirred fears of a wider euro zone sovereign credit meltdown that would be damaging for insurers, although the sector should be able to easily withstand any losses on its Greek debt, analysts said.

German insurers can digest Solvency II: Consultancy

Published June 29, 2011 - 12:48pm CST

FRANKFURT (Reuters)—Germany's insurers will face only a moderate additional capital burden when adjusting to new European risk rules due to come into force in 2013, management consultancy Zeb said on Wednesday.

Catastrophes cut Allianz profits

Published May 12, 2011 - 12:33pm CST

FRANKFURT (Reuters)—German insurer Allianz S.E.'s net profit fell 45% in the first quarter, hit by damage claims from the earthquake in Japan and other natural disasters.

Japan quake may affect 'thousands' of German firms: Marsh

Published March 24, 2011 - 10:53am CST

(Bloomberg)—Japan's worst earthquake on record may hurt the production of “thousands of companies” in Germany for several months, insurance broker Marsh & McLennan Cos. Inc. said.