September 2, 2022
Fire has always been a peril for shipping, but the advent of lithium-ion batteries has elevated the risk to the point that it now is the most expensive cause of loss for the industry, according to a new bulletin issued …
May 17, 2022
Germany’s Allianz agreed to pay more than $6 billion and its US asset management unit will plead guilty to criminal securities fraud over the collapse of its Structured Alpha funds early in the COVID-19 pandemic. Allianz’s settlements with the U.S. …
March 11, 2022
It’s every investor’s dream: Make money when markets go up, and when markets go down, and even when markets go practically nowhere. But inside Allianz SE, where a handful of hedge fund managers claimed they could do just that, few …
March 1, 2022
FRANKFURT, Germany –– A number of big investors on Monday filed to end their lawsuits against Allianz after a settlement was reached over their losses in a multibillion-dollar trading debacle at the German asset manager’s funds arm. The move marks …
November 19, 2021
FRANKFURT — Allianz Chief Executive Officer Oliver Baete said on Thursday that the financial world was getting more dangerous, not safer, setting an ominous tone for investors. Baete, who oversees one of the world’s largest insurers and asset managers, pointed …
June 11, 2021
Allianz Appoints Aviation Claims Head Allianz Global Corporate & Speciality promoted Cristina Schoen as global head of aviation claims in New York. Schoen previously was director of airline claims, a role she retains in her new position. She reports to …
March 26, 2021
Carriers that insured Freightliner Corp. before it was purchased by Daimler-Benz AG in 1981 — even those that entered into fronting agreements that transferred liability back to the insured — have to contribute to the defense of claims related to …
January 28, 2021
LONDON — Insurers are facing a $2-3 billion loss if the Tokyo Olympics are canceled this year, amounting to the largest ever claim in the global event cancellation market, brokers say. With less than six months until the Games are …
August 7, 2020
Insured losses from the Beirut port warehouse explosion are likely to total around $3 billion, similar to those from an explosion at the Chinese port of Tianjin in 2015, industry sources and analysts say. The blast on Tuesday, the biggest …
May 7, 2020
LONDON — Britain’s Financial Conduct Authority (FCA) aims to get business interruption insurance policies examined by a court as soon as July, a member of a policyholder action group said on Thursday. The Hiscox Action Group, which is seeking to …