43 List of Participations of the Allianz Group As of 31 December 2017 According to § 313 (2) HGB
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Competition Between Exchanges: Euronext Versus Xetra*
Competition Between Exchanges: Euronext versus Xetra* Maria Kasch-Haroutounian / Erik Theissen** January 2003 Abstract: Exchanges in Europe face increasing competition. Smaller exchanges may come under pressure to cooperate with one of the larger exchanges and adopt its trading system. It is, therefore, important to evaluate the attractiveness of the two dominating continental European trading sys- tems, Euronext and Xetra. Though both are anonymous electronic limit order books, there are im- portant differences in the trading protocols. In this paper we use a matched-sample approach to compare execution costs in Euronext Paris and Xetra. We find that both the effective spreads and its components, the realized spread and the adverse selection component, are lower in Xetra. Differ- ences in market organization - we consider differences in the number of liquidity provision agree- ments, and differences in the minimum tick size - do not explain the spread differences. JEL classification: G10, G15 Keywords: Competition between exchanges, bid-ask spread * We thank participants of the 9th Symposium on Finance Banking and Insurance in Karlsruhe for helpful comments. ** University of Bonn, BWL I, Adenauerallee 24-42, 53113 Bonn, Germany, Phone +49 228 739208, Fax +49 228 735924, Email: [email protected] and [email protected], respectively. 1 Introduction European exchanges are in a process of consolidation. Banks and institutional investors are putting pressure on exchange officials to decrease transaction costs. The fragmentation of European exchanges has been identified as one source of high transaction costs. Mergers be- tween exchanges and the joint use of trading systems are considered to be part of the solution. -
View Annual Report
Annual Report With this Annual Report, we have published our financial results for the first time according to Gross premium income International Accounting rose 19.6 percent to Standards (IAS). Net DM 90.4 billion in the profit increased by 31.5 Earnings per share 1998 business year. percent to DM 3.6 billion. totalled DM 14.67 – 26.8 percent higher than in the previous year. 1998 A T A GLANCE 1998 1998 Change from 1997 More on Allianz Group previous year page D DM in % DM Gross premium income bn 46.2 90.4 19.6 75.6 12 Benefits paid to customers bn 40.0 78.2 21.5 64.4 132 Pretax result mn 4,085 7,990 25.3 6,375 37 Tax mn 1,528 2,988 6.1 2,815 134 Minority interests in earnings mn 739 1,445 69.3 853 Net earnings mn 1,819 3,558 31.5 2,706 37 Assets Under Management bn 343.2 671.2 41.0 476.2 74 Stockholders’ equity bn 22.2 43.5 30.4 33.4 122 Insurance reserves bn 216.8 424.1 38.5 306.1 125 Employees 105,676 37.3 76,951 86 1998 1998 Change from 1997 More on Allianz Share previous year page D DM in % DM Earnings per share 7.50 14.67 26.8 11.57 136 Dividend per share 1.12 2.20 15.80 1.90 41 Dividend payout mn 276 539 23.1 438 Allianz share price on 12/31/1998 317 620 33.1 466 18 Market capitalization of Allianz on 12/31/1998 bn 77.6 151.8 41.6 107.2 18 Standard & Poor’s awarded the Allianz Group its highest possible rating, “AAA”. -
As of April 28, 1999
As of September 22, 2014 MARAD APPROVED FOREIGN UNDERWRITERS Country Company Bermuda Axis Specialty Limited Bermuda Gard Marine and Energy Limited Denmark Codan Forsikring A/S France Allianz Global Corporate & Specialty UK AXA Corporate Solutions Assurance France Generali France Assurances France Groupama Transport Company Germany Allianz Global Corporate & Specialty Italy Assicurazioni Generali SpA Norway The Norwegian Hull Club UK Aspen Insurance U.K. Limited Co. UK Swiss Re (SR International) UK Great Lakes Reinsurance UK International Insurance Company of Hannover Limited UK Marine Insurance Company (Royal Insurance Holdings, PLC) AS OF APRIL 28, 1999 MARAD APPROVED FOREIGN UNDERWRITERS Country Company Australia HIH Casualty and General Insurance Limited Australia QBE Insurance Group Ltd. Canada Commonwealth Insurance Company France Assurances Generales de France France AGF Marine Aviation Transport (MAT) France Groupe des Assurances Nationales Incendie Accidents (GAN Incendie) France La Reunion Francaise S.A. France Uni Europe Assurance (AXA) Norway Bergen Hull Club Norway Gjensidige Marine & Energy AS (Gjensidige General Insurance Company) Norway Protector Forsikring As Norway Skdeforsikringsselskapet Vesta A/S (Vesta General Insurance Group) Norway UNI - Storebrand Skadeforsikring As of 07/25/96 MARAD APPROVED FOREIGN UNDERWRITERS Country Company France Assurances Generales de France (AGF I.A.R.T.) France Groupe des Assurances Nationales Incendie Accidents (GAN Incendie) France La Reunion Francaise S.A. France Preservatrice Fonciere -
Credit Insurance Market Survey
CREDIT INSURANCE MARKET SURVEY 2 01 9 CREDIT INSURANCE MARKET 2019 INSURERS & SHARES MARKET SHARE The trade credit insurance market remains very 2018 (source: www.icisa.org). Euler Hermes remains the oligopolistic and the Top 3 «global» insurers represent leading credit insurance carrier with 34.1% of market more than 75% of the total premium. ICISA estimates share followed by Atradius 24.6%, and Coface with a total market size around €6.7 billion in premium in 17.1% as of December 31st 2018. 17,3% 34,1% • Euler Hermes 24,3% • Atradius 24,6% • Others • Coface This calculation is an estimate by AU Group, excluding China Export insurance company which achieved a turnover of approximatively & Credit Insurance Corporation (“Sinosure”), the public Chinese €1.4 bn (2016 figures, total short term premium). TYPES OF INSURERS The International Credit Insurer & Surety Association “Niche” insurers, characterised by expertise in: (ICISA) comprises more than 50 members that provide ➤ particular products: Excess of loss, shared excess Trade Credit Insurance535 402 across the world. However, two cover, top-up, single risk (e.g.: AIG, Chubb, Garant, Nexus, main categories of insurers can be distinguished: “Global” 600000 466 379 Liberty Mutual, Lloyd’s, Markel, QBE, Tokio Marine, XL and “Niche” insurers. Catlin, Zurich etc.) 500000 335 270 ➤ certain geographical areas (e.g.: ATI, Cesce, Credendo, “Global” insurers, characterised by: FCIA, ICIC, QBE, Sace etc.) 400000 ➤ a strong international presence ➤ different types of risk: political risk, non-transfer 300000➤ detailed information on a very large number of buyers (e.g.: Garant, Beazley, Liberty Mutual, Lloyd’s, Zurich...) in their global databases • Atradius 200000➤ global capabilities in providing credit• Coface management services • Euler Hermes 100000 Leading insurers in this category are: Atradius, Coface, Euler 0Hermes. -
Shaping the World of Tomorrow Together
Active is: Shaping the world of tomorrow together AllianzGI Sustainability Capabilities March 2021 Value. Shared. For Institutional Use Only 1296786 Why sustainable investing is important to us As an active manager we understand that capital allocation and company engagement are the key drivers of positive change. By integrating ESG considerations in our active investment decisions, our clients partner with us to strike a new path towards a more sustainable economy and society. Active is: Shaping the world of tomorrow together 2 Since 1999, AllianzGI has been driving sustainable solutions forward For the fourth year in a row, AllianzGI has received an “A+” from the PRI for its overarching approach to ESG Strategy and Governance1 We commit to continuous innovation to support a socially responsible transition to a low carbon economy 1999 2007 2015 2019 2020 2021 Inception year of AllianzGI amongst We were among the First mover with As of Dec 31, we Launching in Global the first 50 asset first 3 asset AfricaGrow: first manage 251 bn 2021, our Sustainability, a managers to sign managers globally German blended USD in Climate sustainable and the UN Principles for offering a Green finance vehicle to sustainable Engagement with responsible (SRI) Responsible Investing Bond strategy - invest in the Private investment Outcome investing equity (UN PRI)¹, which now ahead of the Paris Equity and Venture strategies strategy strategy has close to 2000 Climate Agreement Capital sector in Africa signatories in 2015 1 https://www.unpri.org/signatories/signatory-directory The PRI assessment report is based on information reported directly by signatories. Moreover, the underlying information has not been audited by the PRI or any other party acting on its behalf. -
EH Re AG) in Its Financial Statements (For 2018 Results: 1 EUR= 1.1269 CHF, for 2017 Results: 1 EUR = 1.17015177 CHF)
Euler Hermes Reinsurance AG Financial Condition Report Based on 31/12/2018 figures Financial Condition Report of Euler Hermes Re AG 2018 Contents Contents ........................................................................................................................... 1 Executive Summary .......................................................................................................... 1 Business activities (A) ............................................................................................................... 1 Company success (B) ................................................................................................................ 2 Governance and risk management (C) ...................................................................................... 2 Risk profile (D) ......................................................................................................................... 3 Valuation (E) ............................................................................................................................ 3 Capital management & Solvency requirements (F&G) ............................................................... 3 A. Business activities ...................................................................................................... 4 A.1. Business overview ......................................................................................................... 4 A.1.1. Business overview ....................................................................................................................... -
INVESTMENT VENDORS the Following Is a Listing of the Investment Managers, Custodians, and Consultants That Serve the Massachusetts Public Pension Systems
INVESTMENT VENDORS The following is a listing of the investment managers, custodians, and consultants that serve the Massachusetts public pension systems. The listing is based on information supplied by the retirement boards. RETIREMENT BOARD INVESTMENT VENDORS ADAMS • Capital Research and Management • Granite Investment Advisors Custodian: State Street Bank & Trust AMESBURY • PRIT ANDOVER • PRIT ARLINGTON • PRIT • Wilshire Associates Inc. Custodian: State Street Bank & Trust ATTLEBORO • Boston Advisors, LLC • Herndon Capital Management, LLC • PRIT Custodian: People’s United Bank • Daruma Capital Management, LLC • Invesco Core Real Estate USA, LP • Regions Timberland Consultant: Dahab Associates Inc. • Fidelity Institutional Asset Management • Invesco National Trust Company • State Street Global Advisors • Frontier Capital Management Co., LLC • Orleans Capital Management Corp. • Wells Capital Management Inc. • Hancock Natural Resource Group, Inc. BARNSTABLE COUNTY • Intercontinental Capital Management, LLC • PRIT • UBS Realty Investors, LLC BELMONT • AEW Capital Management, LP • Loomis Sayles & Company • RhumbLine Advisers Custodian: State Street Bank & Trust • Atlanta Capital • Pacific Investment Management Company, LLC • Rothschild Asset Management Inc. Consultant: New England Pension • Harbourvest Partners, LLC • PRIT • Scout Capital Management, LLC Consultants BERKSHIRE COUNTY • PRIT BEVERLY • PRIT BLUE HILLS REGIONAL • PRIT BOSTON (CITY) • 57 Stars, LLC • EnTrust Partners, LLC • Permal Asset Management, Inc. Custodian: State -
About EFAMA Publications Research and Statistics
Reset Password Sign In Search this site EFAMA Home About EFAMA Publications Research and Statistics About EFAMA EFAMA Corporate Members EFAMA Secretariat Board of Directors AllianceBernstein (Luxembourg) S.à.r.l. Allianz Global Investors Annual Reports Amundi Asset Management Applying for Membership Aviva Investors AXA Investment Managers EFAMA Members Baillie Gifford & Co National Member Associations Banque Cantonale Vaudoise BCV Asset Management Banque Privée Edmond de Rothschild SA (Genève) Corporate Members BBVA Asset Management Associate Members Blackrock BNP Paribas Investment Partners Disclaimer BNY Mellon Candriam Capital International Sàrl Contact Carmignac Gestion EFAMA Columbia Threadneedle Investments 47 Rue Montoyer Credit Suisse AG 1000 Brussels DEKABank Deutsche Girozentrale + 32 (0)2 513 39 69 DWS Group GmbH + 32 (0)2 513 26 43 Eurizon Capital SGR S.p.A. Contact Us Federated Investors, Inc. Fidelity International Franklin Templeton Investments Route & Details Generali Investments (new!) Goldman Sachs Asset Management International Click for Groupama Asset Management details HSBC Global Asset Management Invesco ETF Invesco Insight Investment Investec Asset Management Janus Henderson Global Investors JP Morgan Asset Management Jupiter Asset Management Limited KBC Asset Management N.V. La Française AM Legg Mason Lombard Odier Funds (Europe) SA Lyxor Asset Management (Société Générale Group) M&G Investments MFS Investment Management Mirabaud & Cie Natixis Investment Managers NN Investment Partners Nordea Investment Funds Ostrum Asset Management Pictet & Cie Pimco Europe Ltd. Raiffeisen Capital Management Robeco Santander Asset Management Schroders SEB Investment Management AB SKAGEN Funds / Skagen AS SKAGEN Funds / Skagen AS Standard Life Investments Limited State Street Global Advisors Limited T. Rowe Price International Ltd UBS Asset Management Union Asset Management Holding AG Vanguard Asset Management, Limited About EFAMA Sitemap Disclaimer Privacy policy. -
Pimco Investments Llc Crd# 154957
BrokerCheck Report PIMCO INVESTMENTS LLC CRD# 154957 Section Title Page(s) Report Summary 1 Firm Profile 2 - 12 Firm History 13 Firm Operations 14 - 38 i Please be aware that fraudsters may link to BrokerCheck from phishing and similar scam websites, trying to steal your personal information or your money. Make sure you know who you’re dealing with when investing, and contact FINRA with any concerns. For more information read our investor alert on imposters. About BrokerCheck® BrokerCheck offers information on all current, and many former, registered securities brokers, and all current and former registered securities firms. FINRA strongly encourages investors to use BrokerCheck to check the background of securities brokers and brokerage firms before deciding to conduct, or continue to conduct, business with them. · What is included in a BrokerCheck report? · BrokerCheck reports for individual brokers include information such as employment history, professional qualifications, disciplinary actions, criminal convictions, civil judgments and arbitration awards. BrokerCheck reports for brokerage firms include information on a firm’s profile, history, and operations, as well as many of the Using this site/information means same disclosure events mentioned above. that you accept the FINRA · Please note that the information contained in a BrokerCheck report may include pending actions or BrokerCheck Terms and allegations that may be contested, unresolved or unproven. In the end, these actions or allegations may be Conditions. A complete list -
These Comments Are Submitted by Allianz of America,1 Munich
a ALLIANZ OF AMERICA CORPORATION MUNICH REINSURANCE AMERICA CORPORATION SWISS RE AMERICA HOLDING CORPORATION These comments are submitted by Allianz of America,1 Munich Reinsurance America,2 and Swiss Re America.3 For the past three years, the Administration’s Budget has included a proposal to deny the deduction for property-casualty reinsurance premiums placed with a foreign affiliate by a U.S. insurer.4 The Administration proposal was introduced in the 112th Congress by Rep. Richard Neal (H.R. 3157) and by Sen. Robert Menendez (S. 1693). These comments demonstrate that the Administration proposal would disrupt essential risk distribution practices followed by domestic and foreign insurers, alike; increase premiums and reduce coverage available to U.S. consumers, particularly in catastrophe prone areas along the coastlines; and violate U.S tax treaty obligations and commitments to the World Trade Organization. In addition, the Administration errs in characterizing routine affiliate transactions with treaty partners with significant corporate tax regimes as erosion of the U.S. tax base. BACKGROUND Under current law, a U.S. insurer may deduct the premium for reinsurance placed with another company, whether affiliated, unaffiliated, domestic or foreign. A current deduction for this crucial expense ensures that there is a proper matching of income and expense. The U.S. insurer will include in income any ceding commission received from the reinsurer, and, when it 1 Allianz S.E., a German company, owns Fireman’s Fund Insurance Company, Allianz Global Corporate and Specialty Insurance, Euler Hermes-USA, and Allianz Global Assistance –USA. Together, Allianz’s property- casualty insurance subsidiaries in the U.S. -
Euler Hermes Group Announces CEO Leadership Change
Euler Hermes Group announces CEO leadership change ● Wilfried Verstraete to step down as CEO on December 31st, 2020 ● Clarisse Kopff is appointed CEO of Euler Hermes Group starting January 1st, 2021 ● Wilfried Verstraete remains as advisor to the new CEO though 2021 PARIS, 1 October 2020 – Euler Hermes Group, the worldwide leader in trade credit insurance, announces today that Wilfried Verstraete, CEO and Chairman of the Board of Management has decided to step down from his operational duties after twelve successful years in the role. Clarisse Kopff will succeed him as CEO and Chairperson of the Board of Management as of January 1st, 2021. The change is subject to regulatory approval. Wilfried Verstraete joined Euler Hermes in 2009 where he steered the group through the global financial crisis. Under his leadership, he transformed the traditional, century-old credit insurer into a data-driven, customer-centric Fintech leader with market leading, real-time digital solutions for its clients. He will continue to serve Euler Hermes Group as an advisor to the new CEO through 2021. He will also retain board positions in Euler Hermes SA, Euler Hermes North America, Solunion and Euler Hermes Reinsurance AG. Clarisse Kopff (47) is a graduate of ESCP Business School and holds a postgraduate degree from Université Paris Dauphine and the German Diplom Kaufmann. She is currently Chief Financial Officer of Allianz France. She began her career in debt origination at Lehman Brothers in London, then as an auditor with PricewaterhouseCoopers in Paris before joining Euler Hermes in 2001 as controller for the company’s French entity in Paris. -
IIGCC’S Membership Includes a Broad Range of Asset Owners and Asset Managers
toggle menu Skip to content About us Our members Our board Our team Annual reports Vacancies Our work Policy programme Corporate programme Investor Practices programme Property programme Initiatives & collaborations Become a member Resources Events News Contact us Members login Our members Our board Our team Annual reports Vacancies Our members About Us Menu Our members Our board Our team Annual reports Vacancies 200+ Members 15 Countries represented €30tn in assets IIGCC’s membership includes a broad range of asset owners and asset managers. This includes many of the largest global and European institutional investors and asset managers. Reflecting the significance of climate change as an issue for the investor community and the impact of our work, our membership continues to grow. Click on the link below to find out more on the benefits of joining the IIGCC. Become a member Many of our members are based in Europe Investor members a. s. r. Asset Management Aberdeen Standard Investments ACTIAM NV Aegon NL Aeon Investments Limited AEW Allianz Global Investors Allianz Investment Management Amundi Asset Management AP Moller Capital AP Pension AP1 – Första AP-fonden AP2 – Andra AP-fonden AP3 – Tredje AP-fonden AP4 – Fjarde AP-fonden AP7 – Sjunde AP-fonden APG Asset Management Arisaig Partners (Asia) PTE Ltd Asper Investment Management Atlas Infrastructure ATP AustralianSuper Aviva Investors AXA Investment Managers Baillie Gifford & Co BBC Pension Trust Bedfordshire Pension Fund BlackRock BMO Global Asset Management (EMEA) BNP Paribas Asset