AGCS reveals new global head of property
New exec will relocate for role
Headquarters address: Dieselstraße 8, 85774 Unterföhring, Germany
Year established: 2006
Size (employees): Around 4,250
Global locations: Argentina, Australia, Austria, Belgium, Bermuda, Brazil, Canada, China, Colombia, Denmark, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Italy, Japan, Liechtenstein, Mexico, Myanmar, Netherlands, Norway, Portugal, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, United Kingdom, United States
Gross written premiums: €9.5 billion (2021)
Underwriting expertise: Property & casualty insurance
Key people: Joachim Müller (CEO), Shanil Williams (chief underwriting officer, corporate), Claire-Marie Coste-Lepoutre (chief financial officer), Bettina Dietsche (chief operating officer), Henning Haagen (chief regions & markets officer, Regional Group 1), William Scaldaferri (chief regions & markets officer, Regional Group 2), Thomas Sepp (chief claims officer), Renate Strasser (chief underwriting officer, specialty)
Allianz Global Corporate & Specialty (AGCS) SE is a global corporate insurance carrier and a key business unit of financial services giant Allianz Group. Apart from property and casualty (P&C) insurance, the company offers risk consultancy and alternative risk transfer services through nine dedicated lines of business and six regional hubs – Asia Pacific, Central & Eastern Europe, Ibero/LatAm, London & Nordics, Mediterranean & Africa, and North America.
The firm’s client base ranges from small enterprises to Fortune Global 500 companies, including the world’s largest consumer brands, financial institutions, and tech firms. AGCS operates in more than 30 countries through the Allianz Group Network and has partners in more than 200 nations and territories across the globe. It is also one of the biggest P&C units of the Allianz Group.
Products and services
AGCS offers a comprehensive range of corporate and specialty business insurance products and services tailored to risks and opportunities in different industries through its nine dedicated lines. These are:
Leadership at AGCS
Joachim Müller – chief executive officer and chairman
Müller was appointed group CEO and chairman of the board of management in December 2019. Prior to this, he was a member of the board of management of property & casualty in April 2016 and sales in April 2014 for Allianz Deutschland AG.
Müller joined Allianz in July 2010 as a member of the board of management of strategy and sales management for Allianz Beratungs- und Vertriebs-AG (ABV). He was appointed the unit’s chairman of the board of management in April 2014 and led the turnaround of ABV “with a transformation that delivered significant productivity increases leading to growth above market rates.” From September 2014 to December 2016, he also served as the unit’s director of labour relations.
Culture at AGCS
Inclusion, diversity, and belonging is a core element of AGCS’s corporate culture. The firm values the importance of different perspectives and experiences and lives by the belief that inclusion is the essential ingredient to nurturing a diverse workforce. Because of this, the company has shifted its focus from awareness to allyship and advocacy. It implements a zero-tolerance policy towards discrimination and harassment. The company also encourages its staff to engage in employee resource groups, which cover many dimensions of diversity.
AGCS boasts net-zero business operations as well. This means “less paper consumption, less business travel, more green energy.” In line with this, the firm has established a dedicated ESG operations team to ensure that the company effectively contributes to the sustainability targets set out by Allianz Group. The team is tasked to create impact in key areas such as mobility, energy, offices, and IT. It is also responsible for building a strong connection among all contributing functions and the entire staff of AGCS for unified and industry-leading ESG activities. With regular “Green Weeks” across the company, AGCS plans to raise awareness and encourage all employees to engage and actively support its sustainability agenda.
New exec will relocate for role
Rich Soja, global head of inland marine at AGCS, talks driver shortages, claims changes, opera and more
Coronavirus along with other risks will fuel further unrest, insurer says
Every exposure can interrupt the interactions and operations of companies
The move supports the company's ongoing transformation
It's time to take a closer look at coverages and make sure they're working for insureds
The highly volatile business environment is leading to a surge in D&O risks
Changes are part of the company's objective to "regain market leadership"
However, another type of cyber risk leads to more frequent claims
New report notes the impact of the COVID-19 pandemic on commercial and specialty lines