Allianz Re (AZRe), the reinsurance arm of Allianz Group, provides property and casualty reinsurance solutions globally. In 2024, it reported €6.3 billion in gross written premiums and a combined ratio of 93 percent.
AZRe is the reinsurance business of Allianz Group, which began in Berlin in 1890. It started as a transport and accident insurer, created by Carl Thieme and Wilhelm Finck.
The business expanded early, setting up its first global office in London in 1893. Other major milestones include:
- 1923: Allianz Life launched as the group entered the life insurance market in Germany
- 1985: Allianz AG formed to lead international mergers and business expansion
- 2005: company changed its name to Allianz SE and adopted the new group structure
- 2006: completed conversion to a societas europaea after acquiring Italian unit Riunione Adriatica di Sicurtà
- 2008: sold Dresdner Bank to Commerzbank during the global financial crisis
- 2018: partnered to finance a major London office development at 80 Fenchurch Street
- 2022: agreed to a $6 billion settlement in a US case tied to investment fund losses
- 2023: launched a €250 million catastrophe bond to protect against European windstorms
The reinsurance arm continues to grow, focusing on capital relief, catastrophe cover, and specialty risks. Allianz Re remains key to the group’s long-term global risk strategy.
Backed by a strong capital base and global risk knowledge, Allianz Reinsurance offers the following services:
Third-party reinsurance
- property & casualty: helps insurers manage large loss events across core and specialty business lines
- global agriculture: protects farming risks including yield, revenue, and weather-linked crop failures
Nat cat management
- natural catastrophe: develops risk tools and pricing for flood, earthquake, storm, and other disaster risks
- Allianz risk award & grant: funds climate research and promotes disaster resilience in vulnerable communities
Pooling & volatility management
- risk pooling: shares and balances reinsurance risks across business lines and markets
- volatility smoothing: reduces swings in underwriting results caused by extreme losses
Legacy solutions
- run-off management: handles inactive portfolios to free capital and reduce administrative burden
- capital relief solutions: uses reinsurance to ease regulatory pressure and improve return on capital
Client relationship services
- regional client managers: supports clients in Asia Pacific, EMEA, the Americas and global agriculture
- portfolio analytics tools: gives data-driven insights to help clients understand and manage their risks
Allianz Re drives core reinsurance for the Allianz Group while building tools that improve risk insight. These solutions keep the business strong, adaptable, and ready to meet future client needs.
Allianz Re supports a future-focused culture where people feel confident, protected, and valued for who they are. Its team includes actuaries, advisors, underwriters, and tech specialists working across roles and regions.
Career growth and programs
The company values individuality and welcomes people with diverse backgrounds, abilities, and health conditions. It supports career growth and learning through these key programs and benefits:
- students: real-world experience through internships, mentoring, and on-the-job learning
- entry level: full-time roles and development paths to build careers from academic knowledge
- professionals: new challenges and leadership roles that grow with experience
- Allianz scholarship program: academic support through global university partnerships
- Power of 4 - gap year program: work experience with Allianz, Bain & Company, Deutsche Telekom, and FC Bayern Munich
These efforts show Allianz Re’s commitment to innovation, leadership, and a strong focus on the future.
Workplace environment
Allianz Re builds trust by valuing people and helping them do their best at work. This focus lifts motivation and strengthens how teams deliver care, expertise, and high-quality service:
- learning time: one hour of learning each week
- employee training: 50 hours of average learning in 2023
- investment in skills: €743 per employee spent on development
- AI training: 12-week GenAI and coding courses
- DEI targets: 52 percent women in workforce, 39 percent in leadership
- global inclusion council: 29 senior leaders guiding DEI strategy
- flexible work: 90 percent value hybrid and remote options
- career mobility: cross-border assignments and rotation programs
The company also supports well-being with quiet zones, fitness centers, and collaboration spaces for hybrid work. Offices offer access to childcare, mental health support, and healthy food choices.
AZRe launched Sconset Re to support long-term growth in reinsurance and asset management. The platform will manage billions in annuity risk and draw on strong capital partners. Looking ahead, Allianz aims to grow, boost efficiency, and build stronger capital through 2027.
A 50 percent quota share between Allianz Ireland and Allianz Re Dublin has drawn attention in recent coverage. This structure shifts risk and earnings to the group’s reinsurance center outside Ireland. It shows AZRe’s focus on stability, smart capital use, and strong group-wide support for local units.
