For Hannover Re, the world’s third-biggest reinsurer, it’s time to take profits in the stock market. The German company said on Wednesday that it sold its entire stock portfolio, worth about 953 million euros ($1.1 billion), to help pay for …
Insurers jumped in markets from Europe to Florida amid signs that predictions about Hurricane Irma’s damage were excessively dire. Giant reinsurers like Swiss Re and Munich Re, which shoulder risks for local insurers around the world, posted their biggest gains …
When Micah Carr-Hill wanted to insure Chief, the Labrador that helps with his son’s autism therapy, he found an ally in Munich Re, the world’s biggest reinsurer. The German company had just teamed up with a U.K. internet startup to …
Allianz SE three years ago bet the future of its then $2 trillion bond firm on Dan Ivascyn, a little-known money manager at the time who had been picked to succeed Pacific Investment Management Co. founder Bill Gross. It was …
Bob Mackenzie, the AA Plc executive chairman dismissed Tuesday for “gross misconduct,” is suffering from a mental-health issue, his son said in a statement. “My father tendered his resignation this morning and resigned his directorships due to acute ill health, …
As Allianz SE Chief Executive Officer Oliver Baete slims down the insurer to cut costs, rising second-quarter profit helped by lower natural disaster claims rewarded his strategy. Operating profit jumped 23 percent to 2.9 billion euros ($3.4 billion), Europe’s largest …
Insurance against terror attacks must adapt to face up to the threats posed by so-called lone-wolf militants and the rise of cyber crime. That’s the view of Julian Enoizi of Pool Reinsurance Co., the U.K. government-linked body that backstops insurers …
Cyber crime insurers largely avoided costly claims from the recent attacks that hit business around the globe. The next global virus could change that. “It’s exceptionally likely that we will see an event over the next months that will seriously …
Allianz SE, the German insurer that stemmed outflows at U.S. asset manager PIMCO, is now trying to bulk up on the other side of the world. “Asia is still a relatively small part of the overall global portfolio but it …
Allianz SE is exploring a plan to take Euler Hermes Group private, buying the shares it doesn’t already own in the French trade-credit insurer, according to people familiar with the matter. Euler Hermes stock gained the most in more than …
