Allianz Global Corporate & Specialty AG (AGCS) today announced new responsibilities on its management board starting Jan. 1, 2014, that will increase its focus on the delivery of client and broker services through its international office network.
Global responsibility for these activities will now be shared between two chief regions & markets officers (CRMOs):
Munich-based Andreas Berger will have responsibility for continental Europe, Africa and Asia.
New York-based Art Moossmann takes responsibility for North and South America, the United Kingdom and Ireland, the Middle East, the Nordic region and Russia, and for the Pacific region.
The two CRMOs will work together to lead AGCS’s regional strategy, with a specific focus on the delivery of services for clients and brokers, such as global insurance programs. Berger will also be driving groupwide initiatives for Allianz, with particular focus on the strengthening of broker management as one of the fastest-growing distribution channels.
AGCS Board Member Bill Scaldaferri will expand his role to become chief underwriting officer (CUO) for Global Specialty lines, in addition to his existing role as CEO of AGCS subsidiary Allianz Risk Transfer AG. He will remain based in New York. The Global Specialty division consists of marine, aviation and energy product lines which, when combined with Allianz Risk Transfer’s revenue, totaled more than 50 percent of AGCS’s gross written premiums in 2012.
The moves respond to AGCS’s growth in recent years. Since its formation in 2006, AGCS has nearly doubled its revenues from €2.8 billion to €5.3 billion (gross written premium 2012). In parallel it has expanded its market-facing teams significantly and now has more than 3,500 dedicated staff in 28 countries worldwide, as part of a wider network of Allianz companies and network partners that provides cover for clients in more than 160 countries.