Both the human and the economic cost of the coronavirus pandemic have been huge. As countries and communities pick up the pieces, Allianz economists take stock of the effect of the Covid-19 crisis on the global economy, forecasting a contraction of 4.7 percent this year followed by a recovery in 2021...
Coronavirus will keep the insurance industry in weak health this year. But the pandemic could accelerate emerging trends in the industry. Digitalization, ESG and Asia are some keywords to watch, say Allianz economists in their latest Allianz Global Insurance Report...
The Covid-19 crisis will trigger a major acceleration in business insolvencies due to both the suddenness and historic size of the economic shock and its expected lasting effects, according to an Euler Hermes study. At a global level, Euler Hermes’ insolvency index is expected to hit a record high of +35 percent.
Large shipping losses are at a record low, having fallen by over 20 percent year-on-year, according to Allianz Global Corporate & Specialty SE’s Safety & Shipping Review 2020. However, the coronavirus crisis could endanger the long-term safety improvements in the shipping industry for 2020 and beyond.
Allianz completes acquisition of automobile and other Property-Casualty business from SulAmérica
Allianz has closed the acquisition of the automobile and other Property & Casualty business from SulAmérica. This follows the announcement of the deal on August 23, 2019. The transaction enlarges the service offering for customers and grows Allianz’s geographical footprint in Brazil.
AllianzGI and Virtus Investment Partners announce strategic partnership in U.S. retail market
AllianzGI, a leading global active asset manager, and Virtus Investment Partners Inc., which operates a multi-boutique asset management business, have agreed to a strategic partnership that will focus on enhancing both firms’ growth opportunities with Virtus representing AllianzGI’s compelling investment strategies in the U.S. retail market to existing and potentially new clients.
Allianz Global Corporate & Specialty SE embarks on global transformation program
Under its new leadership, Allianz Global Corporate & Specialty (AGCS), the industrial insurer of Allianz Group, announces a comprehensive transformation program, “New AGCS”, to regain profitability and market leadership in the corporate and specialty insurance segment.