giulio-terzariol-cfo-allianz-1
18 February 2022Insurance

Allianz admits to crawling nat cat loss budget, now at 3.5% and counting

Allianz is watching climate for signs it could once again need to increase its estimates of nat cat and weather losses, group chief financial officer Giulio Terzariol (pictured) has said.

Allianz has gone step by step from an estimated load for nat cat and weather-related events at 3% several years ago, past an interim 3.2% guess "and now we think more like 3.5%", Terzariol said.

"And now we see how this situation develops in 2022 and if this is enough or we go even higher," he said.

The group does carry protection from excessive negative surprises, Terzariol noted. Aggregate reinsurance "starts protecting us once we get a deviation of 100 bps," Terzariol said.

P&C operations at Allianz suffered a 3.1% loss rate from nat cat in 2021 after 1.7% in 2020, a presentation of 2021 earnings showed.

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
18 February 2022   Recent deals in the UK, Poland and Greece offer a good blueprint.
Insurance
18 February 2022   Combined ratio fell 2.5 pps in 2021 as Allianz whipped global corporate & specialty unit back into shape.
Insurance
14 February 2022   The deal positions it to become the top property/casualty insurer in Greece.