PressNewsBusinessInsurance: After the storm

Hurricane Season

After the storm

Service & Contacts

Allianz Group Communications
Koeniginstr. 28
80802 Munich
Germany

Contact overview

Receive the latest Allianz news.

Newsletter

Follow Allianz in the social networks:

Facebook
Twitter
Google+
LinkedIn

  • Contact

  • Newsletter

  • Social Media

“Our job is to help customers get their lives and businesses back to normal as quickly as possible,” says Allianz SE CFO Dieter Wemmer.

Allianz SE
Munich, Sep 08, 2017

Allianz-Dieter Wemmer

Dr. Dieter Wemmer, Allianz Chief Financial Officer

Q: How will hurricane Harvey affect Allianz?


A: Hurricane Harvey is a human tragedy, first and foremost, as with all natural catastrophes. Of course, large scale events like these have a financial impact on the insurance sector. But our immediate concern is human. Our job is to help customers get their lives and businesses back to normal as quickly as possible. This is what insurers do.


Q: Can you already say what the financial impact will be for Allianz?


A: For Harvey, Allianz Group has a net exposure limited to 220 million euros but it is too early to accurately estimate the final figure. That is the likely ceiling and the claims to the group may also fall below that number. Insured damages were caused partly by winds and flooding, but interruption to business will also be costly. Many companies are insured in case they cannot deliver or produce or in case their supply chains are disrupted.


Q: And Irma?


A: Irma has already hit the Caribbean and is expected to reach Florida this weekend. It is already one of the strongest storms ever recorded in the Atlantic. Before the storm has passed, any estimate would be a shot in the dark. You will see, however, that Allianz has prepared well with reinsurance protection that helps cap the group’s overall exposure and sets us up well precisely for these types of events.

Allianz-street flooded by hurricanes

  Forward Looking Statement disclaimer

As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer:

 

  Press contact

Thomas Atkins
Allianz SE
Phone: +49 89 3800 2960

Send email

Sandra Matl
Allianz SE
Phone: +49 89 3800 69144

Send email



  More at allianz.com

Poll Position

Allianz-Poll Position
Sep 21, 2017 | Allianz SE

Few can deny that Chancellor Angela Merkel has benefited from Germany’s recent economic prosperity. But as elections near, it’s important to remember that measures are still required to enhance the country’s growth potential…

More...

New Leadership at Allianz Deutschland and Allianz Italia

Allianz-New Leadership at Allianz Deutschland. Klaus-Peter Röhler named CEO
Sep 19, 2017 | Allianz SE

The Supervisory Board of Allianz Deutschland AG today named Dr. Klaus-Peter Röhler as Chairman of the Management Board (CEO) and successor to Dr. Manfred Knof, effective January 1, 2018. The Allianz Italia Board of Directors  decided to appoint Giacomo Campora, 50, as CEO of Allianz Italia as of January 1, 2018.

More...

'Allianz Multinational' bundles expertise for international Property & Casualty insurance solutions

Allianz-'Allianz Multinational' bundles expertise for international Property & Casualty insurance solutions
Sep 19, 2017 | Allianz SE

Under the name “Allianz Multinational,” Allianz is bundling its expertise for international insurance solutions from the property and casualty insurance sectors across the Group. Companies operating on a cross border basis – regardless of size – can access international insurance products tailored to their unique market and risk profiles through a central source. 

More...
More...