AGCS pulls out of ‘untenable’ Australian and NZ long-tail business

James Stack has been appointed CEO of AGCS Pacific

Allianz Global Corporate & Specialty (AGCS) is pulling out of liability and financial lines in Australia and New Zealand, closing its New Zealand operations from 1 September 2019. The company said “extraordinary claims levels” in the sectors have made it “untenable” for AGCS to continue writing such business in the region. Remaining lines of business for AGCS New Zealand –…

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