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Germany's Allianz drops one place, despite modest increases in revenues and profits (its asset management business did particularly well). 2019 highlights for Europe's biggest insurer include the creation of China's first fully foreign-owned insurance holding company; a joint venture with BBVA in Spain; buying out the U.K.'s LV General Insurance Group; and the first significant acquisition by the company's digital investment unit, Allianz X, of the B2B online marketplace Meanwhile, Allianz continued the industry's green trend by moving to deny property and casualty insurance to companies inflexibly committed to a coal-centered business model.
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