Entertainment Insurer: Allianz remains skeptical about acquisitions

10:26  26 september  2020
10:26  26 september  2020 Source:   handelsblatt.com

Home insurance, an often neglected cost

 Home insurance, an often neglected cost Once taken out, this contract is often forgotten in a corner, without ever being renegotiated © IStock / City Presse Essential insurance, the comprehensive home policy should not be taken out at the go quickly. SILVER - Once taken out, this contract is often forgotten in a corner, without ever being renegotiated. In the family of insurance policies that accompany us on a daily basis, the comprehensive home insurance contract is clearly the least expensive.

Global insurer and reinsurer Allianz has completed its previously announced acquisition of the remaining 51% stake in Liverpool Victoria The combined acquisitions are expected to see Allianz substantially broaden its UK presence, positioning it as the second largest general insurer in the region.

Allianz has announced that it will complete its acquisition of Euler Hermes minorities by implementing a squeeze-out of remaining shares, after which it will Read previous post: PIC to insure £200mn of Kingfisher Pension Scheme liabilities. Pension Insurance Corporation (PIC), a specialist re/ insurer of

Zuletzt hatte es Gerüchte gegeben, Allianz sei am französischen Ableger des britischen Rivalen interessiert. © Reuters Recently there had been rumors that Allianz was interested in the French offshoot of the British rival.

Recently, there were increasing rumors that the insurer wants to buy in France. However, there are many reasons against it.

Allianz boss Oliver Bäte's statements on the subject of takeovers have been the same in the past: "The next mega-deal will not come today and not the day after tomorrow," he said in February, for example. A good six months later, however, rumors have recently increased that there may be a possible change of strategy at Europe's largest insurer.

The French business of the British insurer Aviva should be the focus of Allianz interest , it was said in various media. An order of magnitude of two to three billion euros for the deal has already been mentioned, an exceptionally high sum by Allianz standards in recent years.

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Allianz is an international insurer that’s been around since 1890 and has footprints on every continent. It’s an excellent example of a traditional organization that has stood the test of time and continues not only to adapt to but also create digital innovations. Lemonade, on the other hand, is the relatively “new

Allianz perspectives. “At the very beginning when blockchain came up, there was the threat that Cabello is also skeptical about the threat from startups. “The insurance industry and banking The barrier for a startup is regulation and customer acquisition costs. Could an outsider crack the code?

It has long been known that Aviva wants to part with parts of its European and Asian business. The new CEO Amanda Blanc wants to focus on the markets in Great Britain, Ireland and Canada, it said. Allianz was already trading as a potential interested party for business in Asia, but this was subsequently disrupted. So it could now also happen with Aviva's France business.

Allianz is skeptical about a possible deal of this magnitude. Several sources within the company confirmed that the Handelsblatt continued to be rather cautious on this question. On the one hand, this has to do with the continuing great uncertainty in the corona crisis, which could still burden insurers in the future. On the other hand, the French insurance market in particular is very competitive and has low margins.

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Global insurer Allianz Group has completed the acquisition of 99.03% of the shares of Nigerian insurance company, Ensure Insurance plc, from Allianz is keen to develop itself as an insurer of first choice in the rapidly growing Nigerian insurance sector, and views it as one of Africa’s high-potential

Therefore, Allianz Benelux remains committed to continue providing high quality services to clients Following earlier acquisitions of four other Belgian portfolios this transaction with Allianz helps us to The Allianz Group is one of the world's leading insurers and asset managers with more than 100

Competitive French market

"In France we had a combined ratio of 98 percent last year, so we have to get a little better," said CFO Giulio Terzariol months ago. With a possible takeover of the Aviva portfolio there, there is a risk of exacerbating an existing problem, according to the company. The quality of the Aviva portfolio in France is also not convinced. According to the rumors that have been circulating so far, Allianz is only interested in property and casualty insurance in France anyway, and Aviva's life insurance division is to be sold elsewhere.

Allianz currently ranks fourth in the insurance market in France. In recent years, however, the Group's stated goal has been to be among the top 3 in key markets around the world. To this end, the insurer allied with the major bank BBVA in Spain in the spring. In Brazil, the group took over the motor business and some other property insurance business from Sul America. And in the UK, the group bought property insurers Liverpool Victoria and Legal & General.

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Europe’s largest insurer , Allianz SE, is in the early stages of evaluating a variety of potential acquisition targets as The German insurer may need to look elsewhere for a willing partner, with Zurich executives including Chief Executive Officer Mario Greco publicly opposing big-ticket deals.

Learn how Allianz overcame war and disaster to become the biggest insurance company in the In addition to insurance companies, these mergers and acquisitions have resulted in the company Today the company remains headquartered in Munich and holds the title as the largest insurer in the

In the meantime, however, the corona crisis shows that the regulators and also the analysts will look much more closely at the solvency ratio of insurers in the future . In the first half of the year, Allianz had a good 187 percent. However, it is becoming apparent that a continuation of the crisis could exacerbate the financial burdens. That in turn could put pressure on the solvency ratio.

In the past, the Dax group had always emphasized that it placed its own "comfort zone" in a range of 180 percent. However, CFO Giulio Terzariol had already indicated at the presentation of the half-year figures at the beginning of August that this area was “no longer set in stone” in the current environment. Especially since no big returns are expected on the interest side either.

Dividend in jeopardy

A potential acquisition of the order of magnitude of the French Aviva business would now burden the solvency ratio of Allianz by around five percent, the company estimates. The result could be a chain reaction. Because from a solvency rate of 160 percent a lot has to be rethought in-house. This also includes the dividend policy, for example. Against the resistance of the European regulators, Allianz paid 9.60 euros per share for the past year.

This policy of high distributions to investors has so far been maintained for this year despite the burdens caused by the corona crisis. Otherwise, management fears that many an investor could say goodbye to the share. Their course has recently been under significant pressure. Allianz shares lost a good 20 percent of their value within a year. And that although of the Dax is quoted almost at the same level as in September 2019.

More: The Munich insurance company appoints two new board members. For Allianz, the personal details in the leadership equate to another turning point.

Against Atlético: Bayern without fans even longer .
FC Bayern will not be able to welcome fans to the Allianz Arena in the near future. Even a Champions League hit turns into a ghost game. © Provided by sport1.de Against Atlético: Bayern without fans even longer FC Bayern have to continue to do without their fans in the Allianz Arena at home. The city of Munich announced on Friday that no spectators would be admitted until at least October 25th.

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