Switzerland’s biggest insurer, Zurich Insurance, has unveiled a shareholder-friendly shift to a simpler management structure under new chief Mario Greco. That’s a positive step. Too bad it’s into a brewing storm. There’s certainly a lot to like about Zurich’s decision …
Allianz Insurance plc, the U.K. subsidiary of Allianz SE, has partnered with global cyber security consultancy, IT Governance Ltd., to offer commercial customers a free online cyber risk assessment. The Allianz Cyber Risk Assessment tool is designed to help businesses …
Global, diversified insurers are best positioned to withstand the industry’s top economic and competitive challenges, according to a report published by Standard & Poor’s Global Ratings. Geographic and product diversification help global multiline insurers (GMIs) cope with challenges such as …
Allianz Asset Management reported a 17 percent decline in first-quarter earnings as investors continued to withdraw money from its Pacific Investment Management Co. unit 19 months after the ouster of Chief Investment Officer Bill Gross. Operating profit at Allianz Asset …
Intact Financial Corp. may post insured losses of as much as C$1.1 billion ($850 million) from the wildfires in Alberta, which could dent the Canadian economy harder than Hurricane Katrina hit the U.S. Intact, Canada’s biggest property and casualty insurer, …
Allianz SE said first-quarter profit surged 21 percent, beating analysts’ estimates, as Europe’s biggest insurer was helped by gains from selling investments. The shares rose. Net income climbed to 2.2 billion euros ($2.5 billion) from 1.8 billion euros [$2.1 billion] …
Drivy, a French startup that lets people hire out their cars in much the same way Airbnb runs a market for houses, said Thursday it raised 31 million euros ($35 million) to fund its continued expansion across Europe. Already operating …
The chorus of global financial leaders warning about the fallout from negative interest rates is getting bigger. Nobuyuki Hirano, president of Mitsubishi UFJ Financial Group Inc., lambasted the Bank of Japan’s negative rates last week for putting banking stability at …
Sompo Japan Nipponkoa Holdings Inc. is nearing an agreement with CIMB Group Holdings Bhd. to distribute general insurance products through the Malaysian lender’s branches across Asia, people with knowledge of the matter said. Japan’s third-largest general insurer could pay about …
Allianz Commercial* announced it has increased its capacity for excess of loss cover, which will now allow brokers to purchase excess liability cover up to £50 million ($70.5 million) per individual class of business. The move, which supports Allianz’s ambition …
