Ace Ltd. agreed to buy Allianz SE’s Fireman’s Fund unit serving wealthy clients to expand insurance of luxury homes, yachts and art collections as the seller narrows its focus in the U.S. Ace will pay $365 million in the deal, …
The Fireman’s Fund commercial property/casualty business will be integrated into Allianz Global Corporate & Specialty (AGCS), the global corporate insurance company of Allianz. The integration further strengthens the Allianz brand in its US commercial P&C business. This move follows the …
German insurance company Allianz says it has made initial payments in connection with the missing Malaysian Airlines plane. Allianz’s global head of communication Hugo Kidston confirmed Wednesday that the Munich-based insurer and “other co-reinsurers of Malaysia Airlines aviation hull and …
Insurance company Allianz says it is increasing its dividend to 5.30 euros ($7.27) from 4.50 euros a share after profits rose 15 percent last year. The Munich-based company said Thursday its net income attributable to shareholders reached 6 billion euros …
Business interruption (BI) and supply chain, natural catastrophes and fire/explosion top the list of company risks in 2014, according to the third annual Allianz Risk Barometer, which surveyed over 400 corporate insurance experts from 33 countries. The survey conducted by …
Germany’s Allianz and Australian group QBE bear the bulk of the insurance liability from this week’s fatal train crash in northwest Spain, according to sources at the companies. While Allianz’s Spanish subsidiary covers a compulsory personal accident policy for Spain’s …
Allianz SE, Europe’s biggest insurer, said preliminary estimates show its net losses from the flood claims in Germany, Austria and part of Central Europe are 350 million euros ($467 million). The gross impact, before reinsurance, is “probably” above 500 million …
Brian Behl pled guilty to filing false insurance claims to divert more than $400,000 for his personal expenses. Sentencing has been set for May 16, 2013. According to court documents, Brian Michael Behl worked for Allianz as a claims adjuster …
The soaring cost of energy bills is being blamed for the 1.6 million homes at greater risk of winter flooding caused by a burst pipe as people choose not to heat their homes while they are away at Christmas. A …
An upcoming cycle of stormy solar activity risks causing damage to electrical transformers and threatening vulnerable energy infrastructure around the globe, a report by an insurance group says. The sun follows a predictable 11 year activity cycle, with the next …