AGCS makes major board changes

The realignment focuses on responsibilities for regions and markets as well as underwriting and claims

AGCS makes major board changes

Insurance News

By Ryan Smith

Allianz Global Corporate & Specialty SE (AGCS SE), the industrial insurer for Allianz Group, has announced a realignment of its board of management focusing on responsibilities for regions and markets as well as underwriting and claims functions.

Effective July 01, the number of chief regions & markets officers (CRMO) on the AGCS SE board of management will be reduced from three to two. Henning Haagen, current chief underwriting specialty officer, will take responsibility for all AGCS regional units outside North America as CRMO for Regional Group 1, which includes Africa, Asia-Pacific, Central and Eastern Europe, the Mediterranean region, Regional Unit London, and South America. William Scaldaferri will be CRMO for Regional Group 2, and will continue to head the North America Regional Group. Each will be responsible for approximately half of AGCS’s business in terms of gross premium income, the company said.

The two current CRMOs, Sinéad Browne and Hartmut Mai, will resign from the board of management effective June 30. Their responsibilities will be merged into Regional Group 1 under Haagen. He will also oversee global broker management, AGCS said.

There will be additional board appointments for underwriting and claims. Dr. Renate Strasser has been appointed to succeed Haagen as chief underwriting officer for specialty. She joins AGCS from Zurich-based New Reinsurance Company, a subsidiary of Munich Re, where she currently serves as CEO. Haagen will retain his existing responsibility for specialty lines until Strasser starts at AGCS on a date to be announced.

The current chief underwriting officer for corporate, Dr. Thomas Sepp, will step into a reestablished board role as chief claims officer. He will be succeeded as CUO for corporate by Tony Buckle, who will join AGCS from AXA XL effective July 01.

“With the consolidation of regional leadership at a board level, we aim to strengthen our global approach at AGCS and to simplify our organization,” said Joachim Mueller, CEO of AGCS. “I look forward to working with both Henning and William to act as one team at AGCS globally to service clients and brokers effectively in all our key markets.”

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