Allianz has formed a new division called the Global Commercial Group Center to focus on the P&C commercial sector, which it says represents a growing segment for the group.
The new division is headed by Chris Townsend, member of the Allianz SE board of management responsible for global insurance lines and Anglo markets, reinsurance, Middle East and Africa.
“We are excited about the opportunities this division represents for customers and our businesses,” said Oliver Bäte, CEO of Allianz SE. “Current market conditions make the timing perfect to bring a dedicated focus to our commercial P&C business.”
Global Commercial is structured into three business units: chief underwriting office, business transformation and global midcorp.
The chief underwriting office will be led by Rasmus Nygård, who joins from AIG on 1 September 2021, and who will be responsible for developing an overall underwriting strategy for the business. Business transformation is led by Jörg Hipp, previously member of the board of management of Allianz Versicherungs-AG for the automotive division. Global midcorp is led by Ole Ohlmeyer, previously responsible for the regional midcorp hubs.
“These changes will improve our underwriting capabilities and customer propositions right across the commercial sector, but with a particular focus on the mid-market business outcomes, and enable profitable growth, while driving enhancements in our client service,” said Mr Townsend.