Global Industry Solution
Financial Services Insurance
The financial services industry is confronted with risks associated with cybercrime, alternative risk financing and changing customer expectations. Now, we must add COVID-19 and geopolitical tensions to the mix.
At Allianz Global Corporate & Specialty (AGCS) we are committed to engaging with financial institutions to help them mitigate their exposures and develop adequate risk transfer solutions within a sector that is embarking on a major transformation, driven by fast-paced technology adoption, growing ESG issues and geopolitical tensions.
Meet our experts
Understanding the financial services industry
Learn more about Financial Services Insurance with Paul Schiavone, Global Industry Solutions Director for Financial Services
The world of finance has undergone fundamental changes and constantly needs to adapt to this fast evolving risk landscape. Financial services insurance has to evolve in parallel, with increasing demand for customized solutions that are specifically designed for this industry.
We can help navigate this increasingly complex and uncertain landscape and are uniquely positioned to resolve these challenges in partnership with our clients and their advisors.
The world’s largest retail and universal banks, (re)insurance companies, asset managers, venture capital/private equity funds, as well as financial advisors and intermediaries, trust our expertise to manage some of the most complex global risks in the financial services industry.
This expertise is backed by major underwriting capacity to cover the largest exposures and an extensive global network, underpinned by the strongest S&P rating of any global property and casualty insurer.
Financial Services Insurance
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Product description
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Risks covered
We tailor coverage and integrate our service to combine experience, products and global reach. From a standalone cover for a single risk to the largest multilocation international programs, AGCS is unequaled in service and insight.
- Holistic approach: From Liability, to D&O and Cyber Insurance - Our experts work together as one team to deliver, execute and service globally synced offerings tailored specifically to client needs worldwide.
- Risk Consulting: Our Risk Consulting specialists are engaged at the earliest stages to ensure that all aspects of risk are considered and addressed preemptively.
- Alternative Risk Transfer (ART): Tailor-made solutions that are particularly useful when unique challenges arise, because they can be customized to the smallest detail to help your business respond to specific and unusual situations.
- Thorough expertise: in financial services industry to identify, assess and underwrite complex risks and execute efficient claims handling
- Strong client relationships: through our client-centric deal and servicing teams
- One global contact: Clients have ONE global contact. With just one representative, our trusted clients enjoy quick and efficient results.
- Financial strength: Significant underwriting capacity to cover the largest exposures; underpinned by the strongest S&P rating of any global property and casualty insurer
- Cyber
- D&O
- Professional Indemnity
- Reputational Risk
- Property
- General (Public/Products) Liability
- Management Liability
- Professional Liability
- Alternative Risk Transfer
What are the biggest concerns for the Financial Services Insurance industry?
Top 5 risks in Financial Services
1. Cyber incidents
2. Pandemic outbreak
3. Business interruption
4. Changes in legislation and regulation
5. Macro-economic develop-ments
The top five risks for the financial services sector as voted for by 931 sector respondents in the Allianz Risk Barometer 2022.
Related information
Financial Lines
Insurance
From Professional Indemnity to Cyber - we offer a suite of Financial Lines Insurance solutions to address the liabilities of companies, managers and professionals.
Alternative Risk
Transfer
If your company or business is looking to transfer risk without using traditional business insurance, our Alternative Risk Transfer (ART) solutions may be right for you.
Directors and Officers (D&O) Insurance
Company managers can be held legally responsible for mistakes made in the performance of their work. Our D&O Insurance provides cover for company managers.
AGCS is here to partner with you
What you can expect from us
Financial Services Insurance insights
Podcast
Financial Services risk trends
What are latest risk trends in the Financial Services industry?
The talk will address the Environmental, Social & Governance (ESG) factor, cryptocurrencies, ransomware and the changing market and features our experts Paul Schiavone, Global Industry Solutions Director for Financial Services, and Peter Lefkin, Senior VP of Government and External Affairs.
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More news, reports and hot topics
Annual survey identifying business risks
Allianz Risk Barometer
Top 3 business risks in Financial Services in 2022
- Cyber incidents (51%) - 2021 rank: 1 (47%)
- Business interruption (30%) - 2021 rank: 3 (31%)
- Changes in legislation and regulation (26%) - 2021 rank: 4 (26%)
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For users in North America
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Allianz Group companies
The Allianz Group offers a wide range of products, services, and solutions in insurance and asset management and operates as an international insurer on almost every continent.
AGCS offices
With our worldwide network, Allianz Global Corporate & Specialty (AGCS) is one of the very few global insurers with an exclusive focus on the needs of global corporate and specialty clients.