Allianz Q4 Net Profit Rises 19% to $1.92 Billion

Article 0 Comments Allianz may slow its share buyback program after the one announced this week to allow the German insurer to make small acquisitions, the group’s finance chief said on Friday after reporting a 19 percent rise in fourth quarter profit. Allianz this week announced it would buy back […]

Once Known as the ‘Bond King,’ Gross Retires After 40-Year Career

Article 0 Comments Bill Gross, who transformed bond investing over a storied four-decade career, is leaving the stage after a tough final chapter. Gross, who announced his retirement Monday, struggled in the last four years as head of the Janus Henderson Global Unconstrained Bond Fund. His performance failed to match […]

Allianz Has Reinsurance Exposure to Vale Dam Disaster: Sources

Article 0 Comments German insurer Allianz may have to cover some of the costs of the dam collapse at Vale’s Corrego do Feijao mine in Brazil, two people familiar with the matter told Reuters. Allianz’s Global Corporate & Specialty division (AGCS) leads a consortium of reinsurers that assumed some risks […]

Brazil Weighs Management Overhaul at Vale After Mine Disaster; Death Toll Rises

Article 0 Comments Brazil’s government weighed pushing for a management overhaul at iron ore miner Vale SA on Monday as grief over the hundreds feared killed by a dam burst turned into anger, with prosecutors, politicians and victims’ families calling for punishment. By Monday night, firefighters in the state of […]

Allianz Enters Formal Negotiations to Buy Malaysia Car Insurer: Sources

Article 0 Comments Allianz Malaysia Bhd. has been chosen to progress in talks to acquire Malaysia’s second-biggest car insurer after edging out Japanese rival Mitsui Sumitomo Insurance Co., people with knowledge of the matter said. AmGeneral Insurance Bhd.’s owners have decided to enter detailed discussions with Allianz on a potential […]

PIMCO and Allianz Partner to Launch Insurance Linked Securities Business

Article 0 Comments PIMCO, the Newport Beach, Calif.-based fixed income investment manager, has hired Rick Pagnani from Mt. Logan Re as executive vice president, to lead the launch of the firm’s property and casualty insurance linked securities (ILS) business. The ILS market, which offers low correlation to other asset classes […]

Allianz to Enter Vietnam Insurance Market via Joint Venture with IT Firm FPT Group

Article 0 Comments Allianz announces its intention to enter the general insurance sector in Vietnam through a digital joint venture (JV) to be set up with the FPT Group – driving long-term success in the market and expanding Allianz’s footprint in Asia. FPT Group, as the strategic technology partner, will […]

Cyber Joins Business Interruption as Top Global Business Risks: Allianz Survey

Article 0 Comments Cyber incidents join business interruption as the top risks facing global businesses, according to a survey conducted by Allianz Global Corporate & Specialty (AGCS). The impact of business interruption (which includes supply chain disruption) is the major risk for companies for the seventh year in a row, […]

Allianz-Backed Fintech Startup N26 Raises New Funds for Push into U.S.

Article 0 Comments N26 GmbH, the German banking app that’s backed by billionaires Peter Thiel and Li Ka-shing, has raised new funds at a valuation of $2.7 billion, making the company one of Europe’s most valuable non-listed fintech startups. N26 received $300 million from Insight Venture Partners, Singapore’s sovereign wealth […]

Cryptocurrency Industry Struggles to Buy Insurance, Hindering Growth Goals

Article 0 Comments Cryptocurrency exchanges and traders in Asia are struggling to insure themselves against the risk of hacks and theft, a factor they claim is deterring large fund managers from investing in a nascent market yet to be embraced by regulators. Getting the buy-in from insurers would mark an […]