Tag: Allianz SE

Singapore’s Bold Move: Blocking Allianz’s $1.7 Billion Insurance Deal

Logan B.
Singapore Blocks Allianz

Singapore Blocks Allianz’s Proposed Acquisition of Income Insurance In a decisive move, the Singapore government has blocked Allianz SE’s proposed acquisition of a majority stake in Income Insurance Ltd., a deal valued at S$2.2 billion ($1.7 billion US). The decision comes after a public backlash and concerns over Income’s ability to continue fulfilling its social mission as a co-operative post-acquisition. Government Concerns Minister of Culture, Community and Youth, Edwin Tong, addressed parliament, stating that the transaction as it stands is not “in the public interest.” The acquisition would shift Income’s…

Read More

Allianz SE joins forces with Microsoft for a strategic insurance partnership

Logan B.
Strategic insurance partnership - Microsoft building

The two giants will be working together to transform the way digital processes are conducted. Allianz SE and Microsoft Corp have jointly announced that they’ve entered into a strategic insurance partnership. The goal is to digitally transform the insurance industry for greater ease and improved customer experience. Many consumers feel their insurers have fallen behind the times in terms of digital experience. The companies are hoping to use this strategic insurance partnership to change the entire customer experience from what it is today into something much improved. The idea is…

Read More

Insurance news reports suggest $1-$1.5 billion in losses from Tianjin explosions

Julie Campbell
Tianjin explosion

These reports are based on the blasts that have rocked the Chinese port city and surrounding area. The two sets of explosions that devastated Tianjin, the Chinese port city, and that killed over 100 people, so far, are now making insurance news again as initial estimates are being released that indicated that covered losses will be anywhere from $1 to $1.5 billion. This initial estimate was released by Credit Suisse, based on early media reports from China. Tianjin is no small port. It is the third largest port on the…

Read More

Holocaust survivors may soon sue European insurers due to a new House bill’s approval

Julie Campbell

A House panel pushed legislation ahead on Wednesday to give thousands of Holocaust survivors the right to sue European insurers for insurance benefits that are estimated to total approximately $20 billion. The bill was approved by Foreign Affairs Committee voice vote, allowing the aging Holocaust survivors living in the United States the access they need to American courts in order to force certain insurance companies – such as Assicurazioni Generali in Italy, and Allianz SE in Germany – to have to disclose their pre-World War II policy lists for the…

Read More