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Subscriber only, premium content. Thursday, November 26

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Allianz shakes up business to boost profitability

By: Thomson Reuters

Published November 24, 2015 - 10:28am CST

Times are tough for insurers, but Allianz is fighting the good fight by reinvesting savings, pursuing opportunities in Asia and honing in on new customers.

Allianz launches North America transportation, logistics unit

By: Joyce Famakinwa

Published November 09, 2015 - 11:39am CST

Allianz Global Corporate & Specialty has launched a transportation and logistics unit in North America.

Allianz earnings down ahead of strategy review

By: Thomson Reuters

Published November 06, 2015 - 8:12am CST

(Reuters) — Allianz S.E.'s earnings fell more than expected in the third quarter as market turbulence hit asset management and insurance results, raising pressure on Europe's biggest insurer ahead of this month's strategy review.

List of global systemically important insurers updated

By: Sarah Veysey

Published November 03, 2015 - 10:38am CST

The Financial Stability Board on Tuesday said it has added Aegon N.V. to its list of global systemically important insurers and removed Assicurazioni Generali.

Moscow insurer leads hull and liability cover for crashed Russian jet

By: Sarah Veysey

Published November 02, 2015 - 9:23am CST

Ingosstrak leads coverage for the Russian Metrojet Airbus that crashed in Egypt, killing all 224 people aboard.

Ace Group announces $5.3 billion bond to fund Chubb buy

By: Thomson Reuters

Published October 27, 2015 - 9:49am CST

(Reuters) — Swiss insurer Ace Group Ltd. on Tuesday announced a $5.3 billion four-part bond to help finance its $28.3 billion acquisition of Chubb Corp., and is expected to price the trade later in the day.

Wrongful death lawsuit filed in cargo ship sinking

By: Sarah Veysey

Published October 20, 2015 - 9:33am CST

El Faro, which the suit charges was not seaworthy, went down off the Bahamas during Hurricane Joaquin with 33 people aboard.

European insurers centralizing reinsurance purchases

By: Sarah Veysey

Published October 19, 2015 - 9:13am CST

Many large European insurers have continued to centralize their reinsurance buying and are purchasing less reinsurance, according to a report published Monday by Standard & Poor’s Corp.

China insurers seek Western mentors for health, property products

By: Thomson Reuters

Published October 13, 2015 - 9:12am CST

(Reuters) — Chinese insurers are pursuing strategic tie-ups and outright M&A to tap Western expertise, keen for knowledge on products, pricing and technology as a nascent market for health and property insurance takes off, industry executives say.

'Bond king' sues Pimco for $200 million over forced ouster

By: Thomson Reuters

Published October 08, 2015 - 2:28pm CST

Famed bond investor Bill Gross says his $250 million bonus drove jealous managing directors at Pimco, a unit of Allianz S.E., to plot his ouster.

QBE snags senior vice president from Allianz

By: Joyce Famakinwa

Published October 05, 2015 - 1:26pm CST

Walter Grote to have responsibility for commercial property/casualty insurance business.

Global regulators finalize new capital rules for big insurers

By: Thomson Reuters

Published October 05, 2015 - 11:27am CST

After G20-requested review, AIG, Allianz, Aviva, Ping An and Axa are among the world's insurers that will need deeper pockets.

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.

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