AGCS reshuffles management to support ‘pivot to growth’

Joachim Mueller, CEO of Allianz Global Corporate & Specialty (AGCS), has taken another significant step in the overhaul of the business that he has been carrying out since taking over in December 2019, with a major senior management reshuffle. Mr Mueller said the new appointments and departures are part of the ongoing “portfolio turnaround” and wider business transformation programme in force since his appointment. The Munich-based group is now ready to “pivot to growth again” and the reshuffle is part of this process, he said. Alfredo Alonso, who currently leads AGCS’s regional unit London and Nordics, will become global head of liability with immediate effect. Contributing 20% to AGCS’s global premium volume in 2020, the liability line of business is the largest underwriting unit at the firm. Alonso will be succeeded in May 2022 by Nadia Côté, who will join AGCS from her current role as head of major accounts Europe and international broking distribution for Chubb. Alonso will remain based in London and, in the interim, will retain his regional responsibility for London and the Nordics, in addition to his liability leadership role. Gianluca Piscopo will be appointed regional managing director for the Ibero/LatAm region, also effective from May 2022. Piscopo is currently CEO for W.R. Berkley Spain and Portugal. He will continue to be based in Madrid. Piscopo will succeed Nuno Antunes, who continues to oversee the Ibero/LatAm region until the handover next year. He will then move to a new role that AGCS said “will be confirmed in due course”. The insurer has also appointed a new global head of energy and construction, Max Benz. He will join in February 2022. Benz was previously AXA XL’s global chief underwriting officer (CUO) for construction, as well as regional product CUO Construction for Asia-Pacific and Europe. “He will drive further growth opportunities for the energy and construction line of business, which generated about 13% of AGCS’s gross written premium in 2020,” said the group. Michele Williams will take over as global head of Allianz Risk Consulting (ARC) in Munich with immediate effect. She replaces Thierry Portevin, who leaves AGCS to pursue interests outside Allianz. Williams started at AGCS in 2004, working in various risk consulting and underwriting roles, and most recently led the CEO office for Mueller in Munich. With more than 280 staff spread across 24 locations worldwide, ARC’s risk engineers and industry experts provide a range of risk consulting services to AGCS customers, as well as advising underwriters on technical risk issues. “This setup presents a unique opportunity to create customer value and support the company’s plans to grow in its target segments and markets,” said AGCS. As regional managing directors, Côté and Piscopo will report to Henning Haagen, AGCS’s chief regions and markets officer. Benz and Williams will report to Tony Buckle, AGCS’s chief underwriting officer for corporate. “As our portfolio turnaround and wider business transformation programme advance as planned and we pivot to growth again, we are pleased to attract top talents for these core positions, all of which are directly connected to our customer-facing activities,” said Mueller. “It’s a good balance of talented members of our internal team and high-profile external hires. I look forward to working with these energetic managers – both familiar and new colleagues – to drive our ambitious transformation and growth agenda during the coming years,” he added.

AGCS reshuffles management to support ‘pivot to growth’

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