Allianz Legal Protection (ALP) has strengthened its finance department in a move aimed at providing additional commercial and financial support to its senior management team. A new accounts team has been established, headed by Chris Johnson, who has moved from his previous post of management information manager, Allianz Retail, to the newly-created role of Legal [...]
Allianz Retail has announced that its Clear Private Car product is now available via Adrian Flux, the specialist motor insurance broker. It is the second Clear product available through the specialist broker, and follows the success of the Clear Home product last year. The product is also available through Transactor Global Solutions Limited (TGSL), Adrian [...]
Allianz UK has reported its financial results for the first nine months of the year, including a rise in gross written premiums of 10.2% to £1374.7m. The operating profit in the 9M period rose by 3.8% to £123.6m, and the firm’s Combined Ratio was 95.8% at the end of Q3. The Commercial Division saw gross [...]
Allianz SE has confirmed that it wrote down its holdings in Greek sovereign bonds in the second quarter of 2011, to an average nominal amount of 54%. In the current situation, the group does not expect recent EU decisions to have any further impact in the fourth quarter, although this does depend on whether the [...]
Amer Ahmed is taking over as chief executive officer of Allianz Re effective 1st January 2012, succeeding Clemens von Weichs. The forty-four year old became a member of the reinsurer’s executive committee in 2007 when as chief risk officer, he was responsible for overall risk management including actuarial, the natural catastrophe team, and the firm’s [...]
Allianz Engineering has announced that it is bolstering its underwriting team with the promotion of Nigel Williams. Williams will now serve the firm as regional underwriter for the Midlands area, having previously held the position of business developer for Essex and Hertfordshire. In his new role with Allianz Williams will be tasked with the training [...]
Allianz Insurance has announced that it has formed a partnership with Fix Auto UK for its national accident repair services. The three year deal entails select Fix Auto UK’s fully-branded group of independent bodyshops being granted approval to carry out repairs on behalf of Allianz. At times of the highest demand, the complete Fix Auto [...]
Allianz UK has reported its interim financial results for the first six months of 2011, including a 6% rise in gross written premiums from £861.2m to £914m. Biannual IFRS pre-tax profits remained more or less flat, declining marginally from £78.4m to £77.5m, and the combined ratio rose slightly from 95.3% to 96.1%. The rise in [...]
Allianz says it has restructured its motor repair supplier network in a move that should reduce repair-cycle time. The insurer has consolidated its supplier network into nine regional repairer groups, backed by a national unit that will offer support as and when required. Allianz motor supply chain controller, Jane Riley, comments: “Having consulted with our [...]
Claims related to damage by water could increase home insurance premiums by up to £40, which is particularly concerning as the cost of claims for water damage have spiked by 44% in just one year. The surprisingly high surge in the cost of claims, published by Allianz, follows an announcement by the Association of British [...]
Allianz Re’s agriculture team is developing a new approach to crop insurance in cooperation with software company, Sarmap, which specialises in technology used for managing natural resources. The two are working on radar-based remote sensing software that can allow biomass growth to be monitored and the potential yield of agricultural areas to be measured. Compared [...]
Allianz has partnered with the Vizion repairer network in the UK for all its BMW customers’ motor claim repairs. Commenting on the deal, the insurer’s motor damage supplier controller, Jane Riley, says: “Having worked with BMW since June 2010, Vizion have a track record of delivering exceptional customer service at equitable and sustainable rates.” Vizion [...]
Allianz, following its recent deal with BMW Financial Services, has formed a partnership with Vizion repairer network to undertake direction of repairs for claims made by BMW motor customers. Vizion specialise in prestige vehicle accident repair and will take on responsibility for any repairs needed under the terms of the new BMW and MINI car [...]
Allianz SE today announced the placement of €500 million of 30-year convertible subordinated notes to be purchased by Nippon Life Insurance Company, with the transaction expected to close later this week. Within 10 years after issuance, and under certain conditions, the notes can automatically convert into Allianz common stock. In addition, Nippon Life has the [...]
BMW Financial Services and Allianz Insurance have announced a new partnership to provide BMW and MINI drivers in the UK with Car, Home and Travel Insurance products. BMW has an arrangement with Allianz that includes Shortfall, Income Protection and Tyre Insurance and other services. Under the terms of the new agreement Allianz will underwrite the [...]
Allianz China Life (AZCL) has won the award for the Top 50 Workplace in China, for the second consecutive year. China has seen rapid growth in its insurance sector in recent years and according to AZCL, the industry is short on high-calibre talents and has a high attrition ratio. The company therefore has a management [...]
Allianz Legal Protection (ALP) has formed a business partnership with specialist clinical negligence claims management company, 5R1 Claims. 5R1 provides a tailored advice and guidance service to patients who may have grounds for a complaint about their healthcare treatment. Under the arrangement, ALP becomes the preferred provider of after-the-event (ATE) insurance to the firm’s panel [...]
Allianz has reported its financial results for 2010, including an IFRS pre-tax operating profit of £158.5m, a decline of around a quarter from the £203.7m achieved in 2009. However, gross written premiums rose from £1,588.1m to £1,663.7m and the combined ratio rose from 92.9% to 95.9%. Chief Executive Officer Andrew Torrance has described 2010 as [...]
Allianz Retail has announced that it has signed a multi-year deal to provide pet insurance to The Co-operative Insurance. The Co-operative Insurance will be underwritten by Allianz for its provision of comprehensive cover with a range of optional extras to enable customers to enjoy a tailored insurance policy. The milestone agreement markes the Corporate Partner [...]
