...Business Risk Profile + The Allianz group's dedicated carrier for global corporate and specialty insurance, contributing 14% of the group's property/casualty (P/C) premiums and 4% of P/C operating profit (6% normalized over the past five years). + One of the largest global industrial lines insurers, based on gross premiums of 7.4 billion in 2017. + Well-established brand that has a global footprint and recently strengthened its presence in Asia. + High insurance capacity in the market and portfolio pruning measures in the U.S. constrain overall premium development. Financial Risk Profile + Stabilized capitalization, after capital upstream to its parent in 2016/2017. + Technical profitability depressed by performance of Fireman's Funds companies, although improving. + Elevated potential for volatility of capital and earnings compared with personal lines non-life insurers, due to exposure to natural catastrophes and other large loss events, partly offset by reinsurance protection....
