Allianz PNB Life Insurance has appointed Alexander Grenz (pictured) as its new president and CEO, effective June 01.

After more than three years as COO of Allianz’s Philippine joint venture, Grenz will succeed Olaf Kliesow, who will be taking on a new role as global head of rewards and performance at Allianz SE, but will remain to support the transition process throughout the third quarter of 2019.

Kliesow has been with Allianz since 2010, including the last three years as president and CEO of Allianz PNB Life. Since 2018, he served as president of the Philippines Life Insurance Association (PLIA).

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In his new role, Grenz will be responsible for steering the growth of Allianz PNB Life, and will continue to develop the German insurance giant’s partnership with Philippine National Bank (PNB). He will report into the regional CEO, life and health, Asia-Pacific, and join the Allianz Asia board as well as the Board of Directors of Allianz PNB Life.

Grenz’s successor as COO will be announced in due course, the insurer said in a statement.

“We congratulate Alexander on this appointment. He’s a dynamic leader with a strong track record of delivering quality performance, and we’re confident he will take the company towards its next phase of growth,” said George Sartorel, regional CEO, Allianz Asia-Pacific. “We also thank Olaf for his outstanding leadership in the last three years. During his tenure, he has consistently delivered top and bottom line growth ahead of its market, as well as strengthened our distribution channels and solutions for our Filipino customers. We wish Olaf the very best as he continues to drive success for the group in his new role.”