Allianz

Thorsten Fromhold has been appointed to the new role of chief group reinsurance buyer.

The third-party business brings in around EUR1.8bn ($2bn) of Allianz Re’s portfolio.

A case against Fireman’s Fund reversed an earlier decision that Covid-19 cannot cause physical damage.

The varying treatment of the flood losses raises questions over how the industry should define flood events.

The executive has worked for Beazley for almost 16 years.

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.

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.

The bond provides annual aggregate industry loss cover for named storm and earthquake.

The bond offers annual aggregate index cover against named storms and earthquakes.

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.

The insurer pegged its updated gross claims figure higher than the Elbe flood of 2002.

‘We are not shrinking to greatness,’ said Allianz Global Corporate & Speciality CEO Joachim Müller.