Allianz Commercial makes two appointments
by Gill Montia
Story link: Allianz Commercial makes two appointments
Allianz Commercial has announced two new appointments to its Maidstone branch where Sarah Smith is taking up the post of branch manager and Kerry Myles development manager. Ms Smith has worked at Allianz for 17 years during which time she held in a number of senior technical leadership roles in its claims division, most recently [...]
Allianz mulls appeal over “cost of repair” ruling
by Gill Montia
Story link: Allianz mulls appeal over “cost of repair” ruling
Allianz says its legal team is considering a judgement made by Mr Justice Cooke last week regarding the practice of producing invoices to prove claims for cost of repair. According to the insurer, if the judgement stands, insurers tempted to seek recovery based upon diminution of value, rather than the traditional repair cost, will have [...]
Allianz Your Cover appoints head of direct
by Gill Montia
Story link: Allianz Your Cover appoints head of direct
Allianz Your Cover Insurance has appointed Jon Lott as head of direct, following the departure of Andy James. Mr Lott is moving to the UK business from his current role as head of direct at Allianz Australia where his responsibilities included profitability, sales, customer experience and product and proposition development. In his new role, he [...]
Allianz Commercial UK head to retire
by Gill Montia
Story link: Allianz Commercial UK head to retire
Allianz Insurance has announced that Chris Hanks, general manager of Allianz Commercial in the UK, is to retire in 2013 after 45 years in the business. Simon McGinn, who is currently director, commercial broker markets, will succeed Mr Hanks once he steps down. Allianz Insurance chief executive officer, Andrew Torrance, comments: “Chris has been an [...]
Allianz appoints innovation manager
by Gill Montia
Story link: Allianz appoints innovation manager
Allianz Insurance has promoted Robin Stagg to the post of innovation manager. In his new role, he will work as part of the group’s strategic innovation unit, developing and implement the insurer’s innovation strategy while at the same time ensuring that latest research is taken on board. Mr Stagg joined Allianz’s claims management graduate programme [...]
Allianz shines through in transparency ratings
by Gill Montia
Story link: Allianz shines through in transparency ratings
Allianz has taken tenth place in the transparency ratings just published by Transparency International, an organisation dedicated to the fight against corruption in business and in government. The group assessed the world’s 105 biggest companies, which together are worth more than $11 trillion, and awarded the German insurer a rating of 6.6 out of 10. [...]
Allianz acquires Groupama’s French brokerage subsidiary
by Gill Montia
Story link: Allianz acquires Groupama’s French brokerage subsidiary
Allianz and Groupama have reached an agreement for Allianz France to acquire the property and casualty brokerage-related activities of Groupama subsidiary, Gan Eurocourtage. Gan Eurocourtage is a leading property and casualty franchise in the French market and the transfer will create one of the largest brokerage franchises in the country, enhancing Allianz’s existing relationships with [...]
Allianz on track for 2012 targets
by Gill Montia
Story link: Allianz on track for 2012 targets
Based on preliminary figures, Allianz SE says it achieved total revenues of over €30 billion in the first quarter of 2012, compared to €29.9 billion in the same period of 2011. Operating profit exceeded €2.3 billion, approximately 40% above last year’s level of €1.7 billion, and net income in the first quarter of 2012 topped [...]
Allianz retains FTSE4Good status
by Gill Montia
Story link: Allianz retains FTSE4Good status
Allianz has been reconfirmed as a member company of the FTSE4Good Index. The insurer has been a member of the sustainability index for more than a decade and this year has been especially recognized in the areas of “countering bribery” and “environmental management”. The Index evaluates companies in five areas as follows: working towards environmental [...]
Allianz warns on global financial repression
by Gill Montia
Story link: Allianz warns on global financial repression
In its latest Global Strategic Outlook, Allianz Global Investors reports that LTROs (longer term refinancing operations) and notably the European Central Bank’s introduction of three-year long-term refinancing operations, have been the main catalysts for increased risk appetite and falling equity volatility. However, according to the insurer, global imbalances remain and the clash between debtor and [...]
Allianz partners Vizion for BMW repairs
by Gill Montia
Story link: Allianz partners Vizion for BMW repairs
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: 2010 revenues likely to exceed €100bn
by Gill Montia
Story link: Allianz: 2010 revenues likely to exceed €100bn
Allianz Group has reported strong results for the third quarter of 2010 and confirmed its operating profit outlook for the year. Revenues increased by 11.4% from Q3 2009, to €24.5 billion, and operating profit rose by 2.3% to €2.1 billion. Property-Casualty operating profit rose 8.8% as gross premiums written increased by 3.6%, compared with a [...]
Allianz potential bidder for Channel Tunnel Rail Link
by Gill Montia
Story link: Allianz potential bidder for Channel Tunnel Rail Link
Allianz is reported to be working on a £2 billion bid for the Channel Tunnel Rail Link. The link, which opened in 2003, was the first major new railway to be constructed in the UK for over a century, and the first high-speed railway. It stretches for 109km, from St. Pancras to the Channel Tunnel [...]
Allianz revamps Commercial Select offering
by Gill Montia
Story link: Allianz revamps Commercial Select offering
Allianz Commercial has revamped its Commercial Select product, which is designed to offer a wide range of covers across a variety of risks. According to the insurer, the scope of the product has been enhanced to give clients wider protection and greater peace of mind, with amendments being made to the following policy sections: Property [...]
Allianz launches Defaqto broker comparison service
by Gill Montia
Story link: Allianz launches Defaqto broker comparison service
Allianz Insurance has launched an online comparison service for brokers, on its eBroker website. The insurer is making use of the latest Defaqto Compare comparison tool which uses a traffic light system to allow brokers to compare the cover provided by Allianz’s “Clear” household range against a number of providers in the UK. The move [...]
Allianz launches online safe deposit for travellers
by Gill Montia
Story link: Allianz launches online safe deposit for travellers
Allianz has joined forces with Mondial Assistance to develop an online safe deposit and assistance solution for Air France travellers. Allianz Protect claims to be a first in this area of protection, combining as it does the secure storage of electronic documents with Mondial’s emergency services. The safe deposit system is accessible from www.airfrance.com and [...]
Towergate names Allianz top performing insurer
by Gill Montia
Story link: Towergate names Allianz top performing insurer
Towergate Risk Solutions has named Allianz and RBS-owned NIG as the top performing insurers servicing its broking operations. The research, conducted among the group’s 100 plus broking offices, rates insurer performance when dealing with: quotations; renewals; policy documentation; mid term adjustments; claims and general service. The key findings of the Q3 2009 survey revealed that: [...]
Allianz reports decline in H1 profits
by Richard Kilner
Story link: Allianz reports decline in H1 profits
Allianz UK has released its financial results for the first six months of the year. IFRS operating profit was 6.1% down on the corresponding period in the previous year, but remains ahead of the firm’s forecasts. Operating profit fell from £94m to £88.3m from 2008 to 2009. Last year was an excellent one for Allianz, [...]
Allianz to launch as UK consumer brand
by David Masters
Story link: Allianz to launch as UK consumer brand
Germany-based Allianz, the world’s second biggest insurance firm, is preparing to launch itself as a consumer brand in the UK. The company currently sells insurance products to British consumers through Cornhill, which it acquired in 1986, and pet insurer Petplan. David Keel, marketing and communications manager, said the company is registering a number of product [...]
Allianz Re targets growth despite ‘difficult’ year
by David Masters
Story link: Allianz Re targets growth despite ‘difficult’ year
Allianz Re has confessed that it will be “difficult” to perform as strongly this year as in 2008, but continues to target an average growth of 10% by 2011. The reinsurance unit of Germany-based Allianz said European windstorms at the start of 2009 will squeeze operating profits. “There will be difficulties to reach the result [...]
