Michael Diekmann says after Solvency II Allianz will buy

Allianz chief executive Michael Diekmann says the German insurer puts aside €1bn ($1.4bn) a year for acquisitions and will buy general insurers when new regulations are brought in, the FT reports.

Diekmann said that out of annual earnings of more than €5bn, a net €1bn would be available for buying property and casualty (P&C) insurers, probably in Aisa. Purchases won’t happen for 12 months until the impact of Solvency II has been measured.

“What I would like to do is find cash-producing entities from the P&C side to fund growth on the life side,” Diekmann said. “Life needs a lot of capital to fund growth and you need to have a balancing mechanism within the portfolio.”

Websites

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

Topics