Allianz’s newest senior underwriter for terrorism is looking to bring his London training and expertise to North America.
A UK native, Adam Posner joined Allianz Global Corporate & Specialty earlier this month from
XL Catlin, where he was a terrorism underwriter managing broker relations and serving as the point of contact for global terrorism inquiries. Now, he will serve in a similar role as senior underwriter for terrorism and political violence insurance for Allianz’s North American markets.
Though always keen on politics and global news, working in the space was not Posner’s initial career ambition when he graduated from the University of Birmingham. Like many industry professionals, he was studying for a degree in general business management when he was introduced to insurance.
A family friend helped Posner secure an internship with what was then Catlin Group Limited, where he worked for a year, making industry contacts and learning the business. Upon graduating, he was offered a permanent position in catastrophe modeling for terrorism and political violence.
“It really fit my interest. [Terrorism insurance] wasn’t something I knew too much about, so it was an opportunity to learn something new and develop skills in an area I was interested in,” Posner told
Insurance Business America. “Accepting the offer was a no-brainer, really.”
He worked as a modeling analyst for nearly two years, assessing exposure in hotspot areas like New York and Chicago, before a position opened in the underwriting department. Posner – always looking to challenge himself with a new opportunity – made the switch.
“I’d wanted to do that for a while, and it really came at the perfect time,” he said. “Developing in a niche area has come to be a real string to my bow.”
Posner continued on in his work when XL Group completed its acquisition of Catlin in 2015. After a total of five years as an underwriter with the company, a colleague made him aware of a position with Allianz in New York. Again attracted by the new opportunity, Posner made his move.
He’s now been living in the city for about a month, and describes the transatlantic relocation as a real career highlight.
“Moving to New York was something I was driving to do a year before it happened,” he said. “I’m very ambitious and wanted an international experience. It’s an exciting opportunity very few people get, and it’s going to help me see the market from a different perspective.”
Posner will also bring his own perspective to the North American market, where the competitiveness of London will help him inject some energy into the department.
“London is a very time-sensitive area, so if you’re not turning around quotes and responding to needs quickly, you get left behind,” he said. “I’ll be able to bring a lot of skills to this role and make sure I’m engaging, but also working under time pressure.”
Posner joins Allianz at what is certainly a transformative time in the terrorism insurance space. Attacks in San Bernardino; Orlando; Nice, France; and now Ansbach, Germany have moved the needle toward mass casualty, low property damage attacks that may not be best served by existing insurance products.
Posner feels the market has been responding to this phenomenon with new and evolving coverage, and looks forward to meeting growing demand for solutions in his role at Allianz.
“Risk is certainly evolving as we move from conventional attacks, such as those we saw in 9/11, toward a ‘lone wolf’ type of scenario,” he said. “For me, building relationships with brokers is going to be key as Allianz positions itself to become a larger presence in the standalone terror market.”
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