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’).
Euler Hermes, the world’s leading trade credit insurer, has appointed Virginie Fauvel as Chief Transformation Officer as of January 15, 2018, and Head of the Americas region as of April 1, 2018. Once her nomination is approved by the Supervisory Board on February 9, 2018, she will also join the Board of Management of Euler Hermes as of April 1, 2018.
The new European identification, registration and data platform Verimi welcomes further support: Giesecke+Devrient (G+D), world market leader for the validation of payment transactions, identification, connectivity and data becomes a new shareholder.
For people decidedly glum about the fortunes of their generation, millennials remain incredibly upbeat about their personal prospects, finds an Allianz study on millennials and their work attitudes and expectations
Euler Hermes, the world’s leading trade credit insurer, today announced the French launch of TRIBRating, a new rating service specifically designed for SMEs and MidCaps, offered by Euler Hermes Rating.
Allianz Partners (with its commercial brand Allianz Automotive) and Scania CV AB Financial Services have concluded a global cooperation agreement in June 2017. The cooperation comprises Scania branded motor insurance solutions for Scania customers.
The average cost of a major recall is $12 million – and the number of incidents is set to rise as new technologies add more complex layers to products, says a new report by Allianz Global Corporate & Specialty...
How can we better understand the way climate change is shaping extreme weather events? And how do we foster resilience around the world against these risks by applying modern technological solutions? These questions were at the core of the first edition of the Allianz Climate Risk Research Award.
Product-related risk is one of the biggest perils facing businesses today, with recall exposures having increased significantly over the past decade, bringing the potential for larger and more complex losses than ever before, warns insurer Allianz Global Corporate & Specialty in a new report.
Allianz today launched its Global Explorer Program: a series of global and local partnerships, digital and physical activations and crowd-generated content platforms that calls out to curious minds around the globe to explore, connect and share how disruptive technologies can drive a more sustainable way of life for humans.
Allianz announces having entered into share purchase agreements with shareholders representing 11.34% of Euler Hermes share capital on November 24, 2017 for a price of 122 euros per share in cash, as a result of which Allianz will own 74.34% of Euler Hermes share capital and voting rights.
Ugandan human rights lawyer Nicholas Opiyo was last night awarded the 2017 German African Prize by the President of Germany, Frank-Walter Steinmeier, during a ceremony at the Allianz Forum in Berlin...
After years in the doldrums, global trade has finally caught a decent tailwind. After an increase of 4.3 percent this year global trade could expand by 3.9 percent in volume next year. This would represent an increase in value of 6.3 percent and 7.5 percent, projects Allianz.
Millennials believe the world is more difficult and complex than their parents faced at the same age and are gloomy about the career prospects of their generation. They expect artificial intelligence and robotics to disrupt the workplace, and that employment insecurity and pressure in the workplace to perform will increase.
Allianz Group reported good results for the third quarter of 2017 after a series of hurricanes, storms and other natural catastrophes drove claims higher. Total revenues rose 2.1 percent compared to the third quarter of 2016 to 28.3 (third quarter of 2016: 27.7) billion euros, mostly due to another strong performance in the Life and Health business segment. Operating profit declined to 2.5 (3.0) billion euros, largely due to 529 million euros losses from natural catastrophes.
Allianz SE has resolved on a further share buy-back program as the current share buy-back program of up to 3 billion euros decided on February 16, 2017 is drawing to a close. The volume of such further program will amount to up to 2 billion euros. The program shall start beginning of 2018 and be executed in the first six months of 2018.
Allianz has announced the official opening of its Beijing branch office, strengthening its presence across China and enhancing its ability to serve more customers in the world’s fastest-growing insurance market.
Russian gross domestic product (GDP) is set to grow by 1.9 percent, the oil price will move to $56 per barrel, Russian exports are set to increase by $26 billion, and both insolvencies and the negative impact of international sanctions on investment will decline in 2018, forecasts Euler Hermes, the world’s leading trade credit insurer. With this background demand for trade credit insurance is set to grow.
The new General Data Protection Regulation (GDPR) data privacy rules to be introduced in the European Union in May next year will dramatically change the relationship between insurers and their customers...
Allianz Taiwan Life Insurance Co. Ltd announces that it has reached an agreement to sell a part of its traditional life insurance portfolio to China Life Insurance Co., headquartered in Taipei, Taiwan.
A series of devastating wildfires in Portugal have killed 64 people since June. In August, Canada had its worst fires since 1958, and the deadliest wildfires in the history of California raced across the forests and the vineyards of the Napa Valley in October. More than 5,700 buildings have been destroyed, 213,000 acres of land scorched and 41 people have died so far. Why are they so devastating?
When Harry met Allie, a career took off. Meet our sweet, affable chatbot, who loves to talk to job seekers about the opportunities Allianz has to offer. You can find her on the Facebook page of Allianz Careers, where she helps people navigate through the multitude of job offerings.
Solunion, experts in credit insurance, will offer its clients the full range of Transactional Cover Unit (TCU) products from Euler Hermes, its joint shareholder with MAPFRE. The tailor-made policies are designed to safeguard against default and political risks, including those arising from short, medium and long-term contract interruptions and issues with credit and bank financing.
From I, Robot to Transformers, Hollywood has shown us the best and worst of robots. In the future, will machines leave us jobless or allow us to tap a higher potential? It’s up to societies and employers to develop tools to support workers as the workplace evolves...
Carsten Quitter will become Allianz Group Chief Investment Officer (Group CIO) and, as Managing Director, will take over as Co-Lead of Allianz Investment Management SE (AIM) on January 1, 2018. He will replace Andreas Gruber, who is leaving at his own request after 29 years at the Allianz Group to retire.
In the latest Thomson Reuters Diversity & Inclusion Index published today, Allianz ranks 18th out of 6,000 publicly traded companies, making it one of the most diverse and inclusive workplaces worldwide.
Still wary of the stock markets after the global financial crisis, private investors are parking their funds in banks. But inflation and low interest rates are eroding their savings, warns the Allianz Global Wealth Report…
From blockchain to Global Digital Factory, there's much happening around Allianz in term of digitalization. Our efforts are also making news. Here's a quick roundup at some of the recent media coverage the topic has received...
Internet of Things, artificial intelligence, bots, Big Data – digitalization has given the world a number of buzzwords. But what does digitalization really mean for a global company like Allianz and its customers? In an interview with Digitale Welt in June, Allianz Chief Operating Officer Christof Mascher dives deeper into the topic.
Digitalization provides a lot of new opportunities. Unfortunately, the danger of the IT systems being attacked by hackers also increases with it. Ralf Schneider, Group CIO of Allianz, sees protecting these systems with robust defense mechanisms as one of his most important challenges. In a recent interview to German magazine Digitale Welt, he discusses the cyber threat landscape that global corporations face and the foundation for a solid cybersecurity strategy…
Allianz Global Investors, one of the world’s leading active investment managers, announced today that George McKay, its Co-Head, Global Head of Distribution and Global Chief Operating Officer (COO) will step down from executive responsibilities in April next year.
Social, cultural and especially technological developments are dramatically altering our notion of work. In the next few weeks, we will examine how the concept of ‘work’ is changing in the world around us – and in our company. But before that, let's trace what has already changed...
The Blockchain Insurance Industry Initiative B3i announces the expansion of the group, with 23 new entrants joining its Market Testing program. This follows the successful launch of a working market testing prototype at the Monte Carlo RVS conference on September 10, 2017.
For the seventh consecutive year, Allianz has climbed the Interbrand ranking of the 100 most valuable brands in the world. The Allianz brand came 49th in this year's “Best Global Brands Ranking”. Increasing the brand value by 6 percent, Allianz can now post a brand value of $10.059 billion for 2017.
Allianz unveiled the eighth edition of its "Global Wealth Report", which puts the asset and debt situation of households in more than 50 countries under the microscope. 2016 was politically a very turbulent year, but private wealth shrugged it off:
Allianz Global Corporate & Specialty SE (AGCS), Allianz Group’s specialist carrier for corporate insurance business, has teamed up with Silicon Valley-based cyber risk analytics and modeling firm Cyence to boost its global cyber risk analysis capabilities.
Allianz SE, the international financial services company headquartered in Munich, and its asset management subsidiary, Allianz Global Investors, have announced the successful completion of the sale of Allianz Global Investors Korea to Anbang Group Holdings.
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…
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.
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.
China and India are in pole position as the race intensifies for global vehicle sales in a rapidly shifting industry set to exceed 100 million annual sales in 2019, according to Euler Hermes, the world’s leading trade credit insurer.
Who says work and play can’t mix? In fact, they can mix even before you start work. At Allianz, we have developed a new way for job seekers to find out to what extent they have the values we seek in potential employees. The ‘play’ part? A fun, interactive tool introduces job seekers to these values through one of Allianz’s fastest developing new business areas – drone insurance.
Euler Hermes delivered a winning presentation on the potential of artificial intelligence (AI) to revolutionize the trade sector at the recent ‘TXF 2017’ conference in New York. Competing in an “X-Factor” style competition against IBM and Microsoft presenters, Christophe Spoerry, co-founder of the Euler Hermes Digital Agency, successfully pitched to a panel of judges and audience voters about why AI will have the greatest impact on the trade sector.
B3i, the Blockchain Insurance Industry Initiative, announces launch of market beta-testing of its reinsurance blockchain prototype. The group of fifteen global insurers and reinsurers participating in the B3i initiative has been working on a joint distributed ledger for reinsurance transactions driven by blockchain technology.
Oliver Bäte, CEO of Allianz SE, opened the 44th annual Insurance Conference in Sun City, South Africa, with a keynote address on the conference theme "Disrupt, Debate, Deliver". In his speech, Bäte addressed the profound transformation of the insurance industry wrought by digitalization.
Euler Hermes, the world’s leading trade credit insurer, has announced an innovative partnership with fintech credit risk analysis company, CRiskCo. With a focus on revolutionizing factoring, trade and supply chain finance, CRiskCo uses state-of-the art artificial intelligence (AI) credit analysis and fraud detection processes.
Hurricane Harvey was not a surprise. But as it slammed into the coast of Texas, it dumped 9 trillion gallons of water on the greater Houston area. Allianz Re’s natural catastrophe (NatCat) risk experts Katherine Wenigmann and Jonathan Meagher explain why this is an unusual extreme.
Allianz Group announced a binding agreement to acquire 98 percent of 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 11 million euros in gross premiums written in 2016.
With the Houston metro area in Texas still experiencing the fury of Hurricane Harvey, Steve Kennedy, Regional Head of Property, Energy and Engineering Claims for North America at Allianz Global Corporate & Specialty, explains how Allianz helps its commercial clients both prepare for and recover from such storms
The cross-industry registration, identification and data platform partnered by leading German and European companies is taking shape. The platform now has a name: verimi, a combination of the words “verify” and “me”. The platform venture is well on schedule and will go live with an online digital “master key” (Single-Sign-On) at the turn of the year 2017-18.
The Supervisory Board of Allianz Austria has appointed Rémi Vrignaud as the new Chairman of the Board of Management with effect from August 25, 2017. He will take over from Wolfram Littich, who has been successfully heading up the Allianz companies in Austria since 2001.
While global gross domestic product (GDP) growth accelerated to its highest level in two years in the first half of 2017, some of the world’s economic engines are out of sync, according Euler Hermes, the world’s leading trade credit insurer.
With human error behind 75 percent of marine liability losses, there are hopes that autonomous vessels can improve shipping safety. What are some of the potential implications of a crewless life on the open waves?
Allianz has entered into a co-investment agreement with the Keppel Group to acquire a 100 percent stake in Hongkou SOHO, located in Shanghai’s Hongkou District. Keppel Group’s AAMTF III will hold a 40 percent stake and the remaining 60 percent will be equally split between Allianz and Keppel Land China.
Allianz clients are already benefiting from the recent strategic partnership signed between Allianz and Brokerslink, a company of brokers and risk consultant firms. Small and mid-sized enterprise clients of Brokerslink in 95 countries now have better access to Allianz solutions. Allianz provides worldwide expertise and market access.
FC Bayern has inaugurated its new campus, which will offer training grounds for both the youth and women’s teams of FC Bayern Munich and also for the Allianz FC Bayern Academy, a joint initiative of FC Bayern and Allianz.