Allianz
-
The firm, one of three major reinsurance fronts, said it would manage run-off in an orderly way.
-
The firm’s group reinsurance officer Thorsten Fromhold said the insurer will consider using more cat bond coverage “if the market stays where it is”.
-
The deal will provide per-occurrence, Cresta-weighted industry insured loss cover for European windstorm.
-
The European insurer has not issued a cat bond for its own benefit since 2013.
-
The new issuance is offered with pricing guidance at 2.5x the expected loss.
-
Sang Hun Park previously spent nine years at Allianz before joining Munich Re as a senior origination manager in August 2021.
-
The German carrier will increase the attachment point on its US coverage by 50% to $300mn.
-
Allianz Global Corporate & Specialty (AGCS) is adding five new roles dedicated to ILS alongside an expansion of the ART team.
-
The unit will aim to grow captive solutions and structured solutions.
-
She succeeds William Mills, who left his role as group head of ceded re and third-party capital for Allianz.
-
William Mills was most recently group head of ceded reinsurance and third-party capital at Allianz.
-
Thorsten Fromhold has been appointed to the new role of chief group reinsurance buyer.
-
The third-party business brings in around EUR1.8bn ($2bn) of Allianz Re’s portfolio.
-
A case against Fireman’s Fund reversed an earlier decision that Covid-19 cannot cause physical damage.
-
The varying treatment of the flood losses raises questions over how the industry should define flood events.
-
The executive has worked for Beazley for almost 16 years.
-
M Best affirmed its rating of A on the Leadenhall-affiliated platform, which it said plans to increase open market business to take advantage of rising rates.
-
Profits slipped by 3% at the carrier in Q1, driven by floods in Australia, which added to the highest Q1 cat claims in over a decade.
-
The bond provides annual aggregate industry loss cover for named storm and earthquake.
-
The bond offers annual aggregate index cover against named storms and earthquakes.
-
Another pandemic outbreak came in fourth place, with 22% of respondents saying they were worried about further health and workforce issues and movement restrictions in 2022.
-
The insurer pegged its updated gross claims figure higher than the Elbe flood of 2002.
-
‘We are not shrinking to greatness,’ said Allianz Global Corporate & Speciality CEO Joachim Müller.
-
Hannover Re has estimated that the floods could end up costing the industry as much as EUR7.5bn.
Most Recent
-
ILS managers can differentiate on ESG factors: panel
26 April 2024 -
Cyber ILS market 'yet to be tested’: panel
26 April 2024