Allianz Says Cyber Risks Boosting Industrial Insurance
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Allianz SE, Europe’s biggest insurer, said markets such as Asia, Brazil and eastern Europe as well as products that protect against cyber risks will increase revenue at its industrial insurance unit.
“New products such as cyber-risk protection and coverage for renewable-energy plants will boost premiums in the mid-term,” Axel Theis, chief executive officer of the Munich-based insurer’s Allianz Global Corporate & Specialty industrial insurance unit, said in an interview. “We will also continue to build our presence in growth markets in Asia, South America, Africa, the Nordic countries and Russia.”