AGCS sets targets on multinational insurance

Revamped team will capture the 'sophisticated' market, says chief executive

AGCS sets targets on multinational insurance

Insurance News

By Mary Or

Allianz is looking to expand its reach from customers in the global insurance sector and deeper into multinational insurance. Its international corporate insurance carrier, Allianz Global Corporate & Specialty (AGCS), will meet the increasing demand for cross-border coverage from large and medium-sized companies, adjusting to the complexities of the new market with substantial changes to its structure and strategy.

The AGCS multinational set-up will feature a new market-facing team, dedicated investments in data and technology, and expanded customer services. It will also integrate the well-established AGCS captive solutions team led by Brian McNamara to serve customers with a broad range of services from traditional, multi-line global programs to captive fronting and reinsurance and hybrid combinations of traditional and alternative risk transfer.

The multinational business will be steered by an enhanced leadership team and clear-defined regional responsibilities. Current global head of product at AGCS Guy Money has been appointed global head of multinational business. Jayesh Patel will lead the multinational market practice team, working closely with regional representatives and global and regional distribution teams to drive business development in target markets.

Karol Dobias will continue to be responsible for global standards, performance tracking, and steering in the business excellence unit. Melanie Windirch will oversee the delivery of local services across all network countries as head of network management, while Nigel Leppitt will oversee the multinational transformation program.

AGCS has also moved management board responsibility to the regions and markets field led by Henning Haagen, who oversees market-facing activities, including distribution.

“With our new strategy and set-up, integrated with the network strength of Allianz Group, we are well-positioned to capture new business in this sophisticated segment of corporate insurance. This ambition is very much in line with our overall market leadership aspirations,” said AGCS CEO Joachim Mueller.

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