Allianz Global Corporate & Specialty is beefing up its entertainment division in North America with four new hires. A key executive with the division promises that the expansion will ultimately be a global one.
“Not only are we building on our well-established business model here in North America but in Germany, the U.K. and Australia, with additional countries and regions to follow,” Lauren Bailey, global head of entertainment for AGCS, said in prepared remarks.
AGCS’s entertainment division also has offices in Burbank and Toronto.
As far as AGCS’s North America hiring/expansion, Wanda Phillips will be team leader, based in New York, and will report to Sue McGuirl, North American head of Entertainment for AGCS. Phillips is a 25-year industry veteran and has broad entertainment underwriting and management expertise from stints at OneBeacon Entertainment, Entertainment Brokers International, Aon and Chubb.
The other three hires, also to be based in New York:
- Maryanne Aust, as executive underwriter. She has nearly 30 years of experience with touring performers and live events.
- Spyros Cuison, as executive underwriter. He brings with him a background in venues, production services and live events.
- Ryan McFadden, as a senior underwriter. He has a background in property and inland marine underwriting.
As AGCS expands in entertainment insurance, it faces at least one new specialized competitor with deep pockets: XL Catlin. In February, XL Catlin closed a deal to snatch up Allied International Holdings, a U.S.-based specialty insurer of amusement parks, fairs and festivals. The deal gives XL Catlin (formed by the $4 billion merger of XL and Catlin Group in 2015) access to the niche but robust market of outdoor entertainment specialty insurance.
Source: Allianz Global Corporate & Specialty