Allianz sponsors new catastrophe bond covering European windstorm risks

Allianz has successfully sponsored a new catastrophe bond (“cat bond”) which will provide the Group with multi-year risk transfer capacity of EUR 250 million to protect itself against European windstorms. 

This is the first cat bond protecting Allianz’ own account in over a decade. Allianz entered into a three-year reinsurance agreement with Blue Sky Re DAC, a special purpose vehicle incorporated in Ireland. The notes sold to capital market investors were well received and benefited from high investor demand. 

The transaction forms part of the overall catastrophe reinsurance purchased by Allianz. It supplements and diversifies Allianz’ sources of reinsurance protection against natural catastrophes and provides a multi-year period of protection running from January 2024 to December 2026. The cat bond will be triggered by an insurance industry loss index.

“Allianz is pleased to secure multi-year protection against our peak natural peril, windstorms in Europe, by returning to the insurance-linked securities market. Re-starting our cat bond journey with Blue Sky Re in 2023 broadens our risk mitigation toolbox,” says Thorsten Fromhold, Group Reinsurance Officer, Allianz Re, the entity responsible for structuring the transaction for the Allianz Group.

Holger Klotz
Allianz SE
The Allianz Group is one of the world's leading insurers and asset managers with around 125 million* private and corporate customers in nearly 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 737 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 1.7 trillion euros** of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2023, over 157,000 employees achieved total business volume of 161.7 billion euros and an operating profit of 14.7 billion euros for the group.
* Including non-consolidated entities with Allianz customers.
** As of December 31, 2023.
All the securities referred to herein having been sold, this announcement is a matter of record only. The notes referred to herein have not been and will not be registered under the securities laws of any jurisdiction, and any offer or sale thereof may only be made in a transaction exempt from registration.
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