Allianz
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Lara Martiner joined Allianz in 2011 as group legal compliance officer and legal counsel. -
The firm, one of three major reinsurance fronts, said it would manage run-off in an orderly way.
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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”.
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The deal will provide per-occurrence, Cresta-weighted industry insured loss cover for European windstorm.
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The European insurer has not issued a cat bond for its own benefit since 2013.
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The new issuance is offered with pricing guidance at 2.5x the expected loss.
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Sang Hun Park previously spent nine years at Allianz before joining Munich Re as a senior origination manager in August 2021.
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The German carrier will increase the attachment point on its US coverage by 50% to $300mn.
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Allianz Global Corporate & Specialty (AGCS) is adding five new roles dedicated to ILS alongside an expansion of the ART team.
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The unit will aim to grow captive solutions and structured solutions.
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She succeeds William Mills, who left his role as group head of ceded re and third-party capital for Allianz.
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William Mills was most recently group head of ceded reinsurance and third-party capital at Allianz.
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Thorsten Fromhold has been appointed to the new role of chief group reinsurance buyer.
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The third-party business brings in around EUR1.8bn ($2bn) of Allianz Re’s portfolio.
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A case against Fireman’s Fund reversed an earlier decision that Covid-19 cannot cause physical damage.
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The varying treatment of the flood losses raises questions over how the industry should define flood events.
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The executive has worked for Beazley for almost 16 years.
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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.
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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.
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The bond provides annual aggregate industry loss cover for named storm and earthquake.
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The bond offers annual aggregate index cover against named storms and earthquakes.
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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.
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The insurer pegged its updated gross claims figure higher than the Elbe flood of 2002.
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‘We are not shrinking to greatness,’ said Allianz Global Corporate & Speciality CEO Joachim Müller.
