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Allianz S.E.'s specialist corporate insurer Allianz Global Corporate & Specialty said Tuesday that it has launched a U.S. aviation workers compensation department led by a group of former QBE North America comp specialists.
Allianz Global will serve as the underwriter for this broker-driven program and has entered into an agreement with the National Air Transportation Association, according to an Allianz Global statement.
Charles Couch will lead the department. Previously, Mr. Couch was vice president, underwriting and head of distribution for aviation at QBE North America.
Shane Maloney will serve as senior aviation workers compensation underwriter and Robin E. Couch as executive general aviation underwriter. Messrs. Maloney and Couch also join AGCS from QBE North America where they held senior underwriting positions. All of them are based in Atlanta, the statement said.
Allianz Global also offers workers compensation as part of an insurance solution through its entertainment and mid corporate lines of business, according to an AGCS spokeswoman.
“Launching into the workers compensation business brings new capabilities and rounds out our aviation product line, providing a more cost-effective solution for clients,” Jon Downey, head of aviation for the U.S said in the statement. “We are delighted to welcome Charles, the team, and are thrilled to be working with the NATA — the voice of the aviation business for 75 years — to bring this valuable program to the business community.”
Amer Ahmed, chief executive of Allianz Reinsurance, has said that reinsurers are running out of claims reserves that they can release to increase profitability in a softening market, reported Artemis.bm citing Bloomberg.