Allianz Global Corporate & Specialty merges regional units

Allianz Global Corporate & Specialty SE on Friday said board members Sinéad Browne and Hartmut Mai will resign and leave the company, effective June 30, as it consolidates its two regional units outside North America into one.

Henning Haagen, current chief underwriting officer specialty, has been named to lead the two groups previously led by Ms. Browne and Mr. Mai, the corporate insurance unit of Allianz SE said in a statement.

William Scaldaferri will continue to head AGCS’ North America regional group, the insurer said.

As of July 1, the number of chief regions and markets officers on the AGCS SE Board of Management will be reduced from three to two, according to the statement.

In his new role as chief regions & markets officer, Mr. Haagen will be responsible for all regional units outside North America, including Africa, Asia Pacific, Central and Eastern Europe, Mediterranean, London and South America, the insurer said.

Mr. Haagen will also lead global broker management.

Mr. Haagen and Mr. Scaldaferri will each be responsible for about half of Allianz Global Corporate & Specialty’s business, which totaled gross premium income of €9.1 billion ($10.2 billion) in 2019.

Allianz Global Corporate & Specialty also announced further board appointments for underwriting and claims.

Renate Strasser, current CEO of Zurich-based New Reinsurance Co. Ltd., part of Munich Reinsurance Co., will succeed Mr. Haagen as chief underwriting officer specialty and join the board, subject to regulatory approval, the insurer said.

Thomas Sepp, current chief underwriting officer corporate, will take up a re-established board role as chief claims officer, the insurer said.

Tony Buckle, previously chief underwriting officer international P&C at Axa XL, succeeds Mr. Sepp as chief underwriting officer corporate and will join the board, subject to regulatory approval, the insurer said.

“With the consolidation of regional leadership at board level, we aim to strengthen our global approach at Allianz Global Corporate & Specialty and to simplify our organization,” Joachim Mueller, AGCS CEO, said in the statement.