Allianz promoted an executive to the new role of chief business transformation officer. Great American Insurance Group has a new head of its annuity group. Validus Specialty added a senior underwriter to help handle its growing commercial directors and officers coverage.
Iván de la Sota has been appointed to the board of management of Allianz SE as the insurer’s new chief business transformation officer.
He’ll be head of what is a new division, effective April 1, and tasked with supporting Allianz entities in exploiting increased client demands for digital insurance and new investment products. Among other things, this division will enhance existing business models, introduce new ones, and offer a flexible combination of personal advice and digital products and services.
De la Sota, a 27-year Allianz veteran, became CEO of the Iberian and Latin American region in November 2015. Previously, he was CEO of Allianz Spain.
In other moves, the supervisory board of Allianz SE extended the contracts of Sergio Balbinot and Axel Theis, both members of the insurer’s board of management, until Dec. 31, 2020. Also, beginning in April, Helga Jung, a member of the Allianz board of management, will take over responsibility for the groupwide human resources function, work and social welfare, in addition to her existing duties.
Great American Insurance Group named Mark Muething as president of its Annuity Group.
At the same time, Muething will continue as chief operating officer and general counsel for the division.
Muething joined American Annuity Group, a predecessor company to Great American’s Annuity Group, nearly 25 years ago as senior vice president and general counsel. He became an executive vice president in 1999 and chief operating officer in 2012.
Before Great American, Muething was an associate and partner at the Cincinnati law firm Keating, Muething & Klekamp.
Julianne McAdams is joining Validus Specialty Underwriting Services as senior underwriter of its commercial directors and officers liability cover. The unit is part of Validus Holdings, a global provider of reinsurance, insurance and asset management services.
She’ll take on the job at a time when Validus is expanding its product portfolio with an admitted, private company commercial D&O policy. McAdams will be based in Validus Specialty’s Atlanta offices and focus on complex risks across mid- to upper-middle-market clients, including public and nonprofit.
Validus Specialty’s growing team of commercial D&O underwriters includes Pat Barton and Sharon Fusco, who manage the private company and nonprofit sectors, respectively.
Sources: Allianz, Great American Insurance Group and Validus