The strength of Typhoon Mangkhut in Asia has shocked even veteran Allianz assessors as they work through the damages. Debris and broken, uprooted trees lay outside. With gale force winds of 173 kilometers (107 miles) per hour and gusts of up to 223 kph (138 mph), Mangkhut was stronger than Hurricane Florence that hit North Carolina recently.
The International Olympic Committee (IOC) and Allianz announced that the insurer will join the “Worldwide Olympic Partner” (TOP) Programme in 2021. Through this sponsorship agreement, Allianz will work with the IOC to provide innovative and integrated insurance solutions to support the Olympic Movement, including the Organising Committees of the Olympic Games, with the ambition of providing those insurance solutions to the National Olympic Committees around the world and their Olympic teams and athletes.
Allianz Group achieved the top position as sector leader among all rated insurance companies in the Dow Jones Sustainability Index (DJSI). This is the second time in a row since 2017. In the results of the world’s most relevant sustainability index, published today, Allianz ranks with 85 points well above the average sector scoring of 47 points...
Mr. Studzinski will take a leading role in PIMCO’s expanding global strategy. He will serve as a key advisor to the firm’s top clients globally alongside the client management teams and senior leadership. He brings to PIMCO more than 30 years of experience as a deeply trusted financial advisor to leaders in business, finance, government and NGOs around the world.
Allianz today announced that it has named Bart Schlatmann as CEO of its European direct business. Bart, who has vast experience in leading large corporate transformation, will assume his responsibilities starting September 1, 2018. Bart Schlatmann joins Allianz from Russia’s Sberbank, where he served as Chief Transformation Officer, responsible for the digital overhaul of client services. Before that, he worked at the ING Group for 22 years, spending his last 10 years there as Chief Operating Officer of ING Netherlands.
Leveraging its knowledge and expertise in assistance, automotive, health and travel protection, Allianz Partners further embraces technological disruption and redefines insurance by establishing three new innovation centers focusing on travel, health and assistance, following the success of its pioneering Automotive Innovation Center, launched in 2014.
After a successful start into 2018, Allianz Group continued to achieve good performance in the second quarter. Indicators remained close to or exceeded the second-quarter 2017 levels, despite burdens from geopolitical instabilities and currency fluctuations.
Pull up your socks and dust off those shoes. The Allianz World Run 2018 has begun and you’re invited to be a part of the fun run to good health.Over the past two years of the Allianz World Run, more than 22,000 Allianz employees from 55 countries ran 2.75 million kilometers, each year smashing the record for the “longest cumulative distance run by one team in 90 days”. This time around, the event has been opened to everyone as Allianz aims to inspire more people to get moving.
Allianz invites runners worldwide to join one of the largest global running events ever – and be part of smashing yet another world record. Seeking to inspire people to undertake recreational physical activity, Allianz has opened its annual employee event “Allianz World Run” to all walkers and runners outside of the company. It is taking place until October 24.
With rapid developments in the fields of artificial intelligence, cognitive computing and the like, we’re now racing towards the “third digital decade”, which promises to be a lot more frantic, disruptive and unpredictable than those before. Allianz has taken the lead in giving its employees tools to stay ahead of the learning curve...
Allianz Partners has agreed to acquire 100 percent of the share capital of Servicios Compartidos Multiasistencia, S.L. (Multiasistencia group) from private equity funds managed by Portobello Capital, and minority shareholders. Multiasistencia is a leading multinational services company for repair-in-kind solutions for homes and businesses on behalf of insurance companies and other intermediaries.
Allianz and StreetScooter now enable business customers to start into electric mobility with greater ease. Allianz is offering third-party liability and comprehensive insurance for vehicles from StreetScooter GmbH, a subsidiary of the world's leading logistics provider Deutsche Post DHL Group.
Fridays are the days to look forward to, but not if you’re a sailor. Freaky Fridays, the new Bermuda Triangle, the unluckiest ship and a lot more is on the radar in the Safety & Shipping Review 2018 by Allianz Global Corporate & Specialty (AGCS)...
Allianz Group has announced the completion of the acquisition of 99.03 percent of the shares in Nigerian insurer Ensure Insurance plc from its core shareholder Greenoaks Global Holdings Ltd. (GGH). Ensure Insurance plc offers life and non-life insurance services and generated 18.2 million euros in gross premiums written in 2017.
Thanks to the generous support of Allianz Germany in Munich and Allianz agencies in and around the Gaertnerplatz, an area dear to the city’s LGBT community, this year Allianz will sport its own float at Munich’s Christopher Street Day parade.
As the Formula E Racing season draws to a close, Allianz, global Insurer also known for its asset management companies PIMCO and AllianzGI, chose the occasion of the double header race finale in NYC as a celebration of its Global Explorer Program. Building on the company´s long term partnerships with The Museum of Modern Art (MoMA) and the global ABB FIA Formula E Championship, Allianz creates an immersive virtual reality experience for museum visitors and race fans alike. Topping off the race season, the company invites New Yorkers to join the Explorer micro-conference – NYC edition at MoMA PS1 to discuss collaboration and co-creation between disciplines as science fact and science fiction begin to merge.
The holiday season means Germany's airports are becoming much busier. Consequently accidents on the tarmac, in the airport building or in the parking garages are not uncommon, as an analysis by Allianz Global Corporate & Specialty (AGCS) reveals. As one of the largest airport insurers in Germany, AGCS surveyed loss events at the country's airports in 2017. The result – it is vehicles like baggage trolleys, not aircraft, which are at particular risk on the tarmac. However, passengers should also be wary.
Allianz Real Estate has partnered with Bright, a producer and distributor of digital art for brands and spaces, to encourage the occupants of its buildings to behave in an eco-responsible manner and reduce their electricity bills.
Allianz SE has resolved on a new share buy-back program. The volume of such new program will amount to up to 1 billion euros. The program shall start on July 4, 2018 and be finalized by September 30, 2018.
Euler Hermes, the world’s largest trade credit insurance company, is revolutionizing the market with a brand new concept: offering individual invoice insurance to SMEs. Sweden’s exporting SMEs can now assess the credit worthiness of potential business partners in 24 European countries and protect their payments online in less than two minutes.
On May 22, 2018, the Pan-European Insurance Forum (PEIF) appointed Thomas Buberl, Chief Executive Officer (CEO) of the AXA Group, Chair of PEIF, succeeding Oliver Bäte, Chairman of the Board of Management of Allianz SE. The PEIF is an active platform where the CEOs of major European headquartered (re)insurance groups discuss policy and regulatory matters affecting the European insurance industry, including with external stakeholders, such as regulators and policymakers.
Oil price strength in the second quarter of 2018 has been driven by geopolitics, in particular heightened tension in Syria and in the Middle East, and subsequently the U.S. withdrawal from the Iran nuclear deal. Hence, the EH model confirms that the market is now being driven by concerns over geopolitically induced supply shortages that may or may not materialize.
Natural resources such as clean air and fresh water are vital for businesses – and at the same time massively at risk across many industry sectors today. Failure to manage the earth’s natural resources or “natural capital” has consequences that extend beyond direct effects on the environment. For businesses, it can also bring new interruption and liability scenarios which can wipe out profits and impact business models, as resource scarcity, regulatory action and pressure from communities and wider society grows, warns AGCS in a new report.
Before the 2018 FIFA World Cup kicks off in Russia, one essential item needs to be in position – and it’s not the ball. Big or small, international or local, sporting events have an even bigger supporter - insurance. In fact, you can call it the ‘enabler’. “Without insurance there would be no World Cup, no Olympics or little organized competitive sport at all,” says Michael Furtschegger, Head of Entertainment International at Allianz Global Corporate & Specialty (AGCS). “For, few would take on the risk required to stage an event, particularly one the size of the World Cup.”
Allianz Group and UniCredit have signed a long-term cooperation agreement in the Central and Eastern Europe (CEE) region. With this agreement, which will gradually start in the second half of 2018, UniCredit will exclusively partner with Allianz in providing its customers access to life, property and casualty insurance in Bulgaria, Croatia, Czech Republic, Hungary, Romania, Slovenia and Slovakia.
Allianz Group has signed an agreement to acquire 8 percent in Africa’s leading reinsurer Africa Re. Under the terms of the agreement, the total cash consideration payable at closing would amount to $81 million (or 69 million euros).
Allianz Group announced that it is deepening its exposure to digital wealth management through a further investment in Moneyfarm amid rising demand from digitally-native savers and investors. Building on an initial investment from September 2016, the Group’s asset management unit, Allianz Asset Management, will become Moneyfarm’s lead investor and the largest minority shareholder.
Allianz, one of the world’s largest insurers, and PIMCO, one of the world’s premier fixed income managers owned by Allianz, have announced the launch of a new business in Australia, Allianz Retire+ Powered by PIMCO, to deliver the next generation of retirement income solutions.
Allianz Group had a good start into 2018, posting a 6.8 percent rise in net income attributable to shareholders. Internal revenue growth, which adjusts for currency and consolidation effects, was 4.9 percent with positive contributions from all business segments. Total revenues increased 0.7 percent to 36.5 billion euros.
Euler Hermes's latest analysis on protectionism: “Trade Games, Trade Feud or Trade War?” evaluates the impact of higher U.S. tariffs on global trade in 2018 and 2019. It defines three scenarios based on the rise of the average U.S. import tariff and different levels of retaliation among major trade partners.
According to projections by Allianz Research, the global premium volume last year rose to a new record sum of 3.66 trillion euros (excluding health insurance). Compared to 2016, the nominal increase adjusted for exchange rate effects is 3.7 percent.
Allianz’s Global Explorer Program is a series of global and local partnerships, digital and physical activations and crowd-generated content platforms that call out to curious minds around the globe to explore, connect and share how disruptive technologies can drive a more sustainable way of life.
Following the appointment of Virginie Fauvel as Euler Hermes Chief Transformation Officer on January 15, 2018, a new digital and transformation team has been set up in order to activate the Group’s transformation and materialize its ambition of becoming the most innovative B2B insurance company.
Allianz X, the digital investment unit of the Allianz Group, has announced a $35 million investment in GO-JEK, the leading Indonesian ridehailing platform that also offers various consumer on-demand and payment services. This is Allianz X’s first investment in a Southeast Asian-headquartered company and fourth transaction in 2018. Allianz becomes GO-JEK’s sole international insurance shareholder.
Allianz is providing financing of 75 million euros and $25 million, both over 12 years, as EAIF’s first insurance-investor. The EAIF debt financing is the second Emerging Markets (EM) blended finance transaction within 12 months, run by Allianz Global Investors (AllianzGI) on behalf of Allianz Group investing for their insurance portfolios. This brings the total commitment of Allianz Group to EM blended finance through AllianzGI infrastructure debt platform to over $600 million.
Allianz Group recently received approval of its Binding Corporate Rules from the EU-mandated Bavarian Data Protection Authority, BayLDA. Binding Corporate Rules or "BCRs" were developed by the European Union to allow multinational corporations to make intra-organizational transfers of personal data across borders in compliance with EU Data Protection Law.
Euler Hermes, the worldwide leader in credit insurance, publishes its Q1 2018 country and sector risks ratings. Euler Hermes monitors 242 countries and territories using about 40 short-term and medium-term indicators to measure the risk of payment disruptions in a given country that are outside the control of companies. Overall, Ghana, Côte d’Ivoire, Egypt and Russia’s ratings were upgraded, while Romania, Algeria and Tunisia’s ratings were downgraded.
Football has the ability to unite people. It also has the ability to change young lives, shows social entrepreneur Florian Zech’s Amandla EduFootball, which is one of the 10 shortlisted social ventures for the Investment Ready Program, to which Allianz is lending its expertise under a partnership with Impact Hub.
Insurers as well as those who buy insurance know one thing – things don’t always go as you expect them to. Worse still, the causes of big changes can sometimes be really small. Here are seven major changes that happened to the world, all because of small, insignificant causes...
The Blockchain Insurance Industry Initiative (B3i) is pleased to announce the incorporation of B3i Services AG in Zurich, Switzerland. The company was formed by the founders of B3i. Up until now B3i has been a collaborative initiative of 15 global insurers and reinsurers who came together in late 2016 to explore and test the potential of blockchain in the industry.
In a new report, insurer Allianz Global Corporate & Specialty (AGCS) identifies both the benefits and emerging risk concerns around the growing implementation of AI in society and industry, including in the insurance sector. AI, also referred to as machine learning, is essentially software that is able to think and learn like a human.
From May 25, 2018, the long awaited General Data Protection Regulation (GDPR) will apply across the EU, representing the biggest shake up of data protection laws in the digital age. In the latest edition of the Global Risk Dialogue, Allianz Global Corporate & Specialty (AGCS) cyber experts Christopher Rau, Jens Krickhahn and Marek Stanislawski offer their insights on what businesses can expect...
From an economic point of view, the eurozone could hardly be in better shape than it is today. The upswing seems likely to continue, the peak has just begun. This development is reflected in the results of this year's Euro Monitor, with which we measure the state of the euro economies on the basis of 20 indicators every year.
Market research company Potentialpark awarded Allianz the first place in a global ranking for the best digital recruiting communication. Allianz was also able to hold on to its number one position in Europe and Asia for the fifth time.
Allianz X, the digital investment unit of the Allianz Group, announced that it co-led N26’s $160 million Series C funding round and joins its Board of Directors alongside a list of notable investors. The funding round includes contributions from additional investors, including existing shareholders. “N26 is a clear frontrunner in mobile banking,” said Solmaz Altin, Chief Digital Officer of the Allianz Group.
Allianz Global Corporate & Specialty SE (AGCS) is rolling out the red carpet for its Entertainment insurance division in Asia with a launch in Singapore. With nearly half of the world’s movie production taking place in Asia and large-scale live events and music tours on the rise, Entertainment is an important growth sector in Asia as more organizers look for insurance solutions to protect their events and productions.
What’s common to small and large companies? Both need fresh ideas and sustainable practices. Allianz and its customer Infarm, an urban produce and herb startup, find they are not that different when it comes to their belief in innovation and sustainability...
Euler Hermes presents its Enabling Digitalization Index (EDI) 2018, which illustrates each country’s ability to provide the necessary environment for business to succeed in an increasingly digitalized global economy. The United States, Germany and the Netherlands make the top three of the 2018 EDI ranking.
Even as the world celebrates Women’s Day, millions of female professionals struggle to find mentors and networks to build careers they love. Why is this key career step stone so elusive to women and what can be done about it?
In discussing his new role as Chief Business Transformation Officer on the Allianz board of management, Iván de la Sota has a refined, reserved and cautious manner, whether speaking in fluent German, English or Spanish. However, the importance of this role in the development of the group is very clear in his mind.
The Supervisory Board of Allianz SE has appointed Iván de la Sota (53) to the Board of Management of Allianz SE to assume the role of Chief Business Transformation Officer, effective April 1, 2018. The new Board of Management division will support Allianz entities in exploiting business opportunities that arise from a growing demand for digital insurance and investment solutions among all customer groups.
The next time you contact your insurer, there is a good chance that you will be dealing with Artificial Intelligence (AI). Insurers are starting to use intelligent computers to give advice and speed up the process of buying insurance and paying claims. But with the benefits also come new risks. The latest edition of the Global Risk Dialogue by Allianz Global Corporate & Specialty explores the developments..
Solmaz Altin (44), currently the Chief Digital Officer of Allianz, will join the Allianz Asia Executive Board from June 1, 2018 and will succeed George Sartorel (60) as Regional CEO effective May 1, 2019. After almost 40 years with Allianz, George Sartorel has decided to retire in 2019. Solmaz Altin will work closely with him over the course of 2018 to ensure a smooth transition.
Visa and Allianz Partners are bringing an innovative new payment solution to consumers: “Allianz Prime”. The mobile payment and loyalty app is the first of its kind in the insurance industry and enables customers to make fast, safe and easy payments with their mobile device online and in stores.
Allianz X, the digital investment unit of the Allianz Group, announced a $30 million investment in C2FO, a fintech business that connects buyers and suppliers of goods and services with working capital funding needs.
Allianz Group reported strong results for the full year 2017 due largely to higher performance in Asset Management and Life and Health. Total revenues for the Group rose 3.0 percent to 126.1 billion euros for the year, driven by improvements in all business segments. Operating profit edged 0.4 percent higher to 11.1 billion euros in 2017, squarely in the upper half of the Group’s announced target range of 10.3 to 11.3 billion euros.
Under our 'Encouraging Future Generations' program, 10 social startups have been shortlisted to receive mentoring as well as an opportunity to win a grant to scale up their business. Who are they and how are they making a difference to society?
When it comes to road safety, in-car technology is proving to be more dangerous than alcohol in many countries as it distracts drivers from keeping a careful eye on the road, finds a study by Allianz Center for Technology (AZT)...
Cisco, Apple, Aon and Allianz announced a new cyber risk management solution for businesses, comprised of cyber resilience evaluation services from Aon, the most secure technology from Cisco and Apple, and options for enhanced cyber insurance coverage from Allianz. The new solution is designed to help a wider range of organizations better manage and protect themselves from cyber risk associated with ransomware and other malware-related threats, which are the most common threats faced by organizations today.
Allianz, the global financial services leader, announced that it has entered into an agreement with Janashakthi Insurance PLC (“JINS”) to acquire 100 percent of its subsidiary Janashakthi General Insurance Limited (“JGIL”) for 16.4 billion Sri Lankan rupees (85.9 million euros). The transaction is subject to regulatory approval and is expected to complete in the first quarter of 2018.
Euler Hermes’ “2018 Collection Complexity Score and Rating” aims at measuring the level of complexity relating to international debt collection procedures within each of the 50 countries taken into consideration. Three main factors were analyzed: local payment practices, local court proceedings and local insolvency proceedings. It therefore provides a simple assessment of debt collection proceedings in each country, helping to support decisions and manage expectations when trading internationally.
Everybody’s familiar with Allianz as an insurance company and financial services provider. Now, 128 years after it was founded, it’s also offering software. An Open Source Edition of parts of the Allianz Business System (ABS) is going to be made available at no charge. Christof Mascher, Chief Operating Officer at Allianz SE, and Andreas Nolte, Chief Information Officer at Allianz Deutschland AG, share more about their plans for ABS.
They take aim at the backbone of the connected economy and, when they strike, can jeopardize the success, or even the existence, of companies of every size and sector. Business interruption (#1 with 42 percent of responses / #1 in 2017) and Cyber incidents (#2 with 40 percent of responses, up from #3 in 2017) are this year’s top business risks globally, according to the Allianz Risk Barometer 2018.
Allianz Group has agreed to acquire the legal protection insurance subsidiary DAS Switzerland and assets of DAS Luxembourg and Slovakia from German insurance group ERGO Group AG. The acquisition will strengthen the competitive position of Allianz Suisse, making it one of the top three firms offering legal protection coverage in Switzerland.
Allianz has agreed to a $59.2 million investment and strategic partnership with leading telehealth platform American Well to develop digital solutions that will widen access, lower cost and improve quality of healthcare for millions of patients worldwide. Allianz X, the digital investment unit of Allianz, led the investment and will join American Well’s Board of Directors.
Allianz Group and Liverpool Victoria Friendly Society (LV=) have completed the first stage in the creation of their joint venture and strategic partnership through the planned sale of 49 percent stake in LV=’s UK General Insurance businesses (LV=GI) to Allianz Group.
With its creative design and easygoing mood, the office of the future blurs the line between work and play. Creative designs, vibrant colors, open and closed spaces, there's a lot changing in our workspaces...
Allianz X, the digital investment unit of the Allianz Group, has announced a $96.6 million investment in BIMA, a leading digital microinsurer utilizing mobile technology to serve low-income customers in Africa, Asia and Latin America. Allianz becomes BIMA’s sole insurance shareholder and the largest strategic shareholder overall.
Allianz Group’s specialist corporate insurer Allianz Global Corporate & Specialty SE (AGCS) announced changes to its Board of Management, which take effect in 2018. From July 1, 2018, Chief Operating Officer Sinéad Browne moves to a new Board-level role at AGCS, taking over from Chief Regions and Markets Officer, Carsten Scheffel, who retires from his role at the end of June.
Allianz Global Investors (AllianzGI) and Allianz Capital Partners (ACP) announced today that they will join forces in order to extend the range of investment expertise available to AllianzGI’s broad global client base, strengthening further its offering in Alternatives. From January 1, 2018, ACP will become a discrete entity under the umbrella of AllianzGI.
A consortium comprising Allianz Capital Partners (ACP) on behalf of the Allianz Group, Macquarie Infrastructure and Real Assets (MIRA) and Valtion Eläkerahasto (VER), the State Pension Fund of Finland, has signed an agreement to acquire Elenia Oy, Finland’s second largest distribution system operator and Elenia Lämpö Oy, Finland’s ninth largest district heating network (together ‘Elenia’).