September 30, 2016 12:35 PM ET

Insurance

Company Overview of Allianz Global Corporate & Specialty SE

Company Overview

Allianz Global Corporate & Specialty SE provides corporate and specialty insurance services. It offers specialist risk solutions to specialist challenges; insurance coverage for general aviation, airlines, airports, and manufacturing risks; captive insurance solutions; claims services; offshore and onshore coverage for the oil and gas industry; engineering insurance coverage for various aspects of engineering and construction risks; film and entertainment insurance; and financial lines insurance addressing the challenges of management and professional liabilities. The company also provides liability insurance solutions for pharmaceuticals and clinical trials; a range of corporate liability i...

Fritz-Schäffer-Straße 9

Munich,  81737

Germany

Founded in 1885

Phone:

49 89 20305 1000

Fax:

49 89 3800 6631

Key Executives for Allianz Global Corporate & Specialty SE

Chairman of Management Board and Chief Executive Officer
Age: 54
Chief Financial Officer and Member of Management Board
Age: 47
Chief Operating Officer and Member of Management Board
Age: 44
Chief Regions & Markets Officer - Regional Group 3, Member of the Board of Management and Regional Chief Executive Officer of United Kingdom
Age: 59
Chief Executive Officer of AGCS UK
Compensation as of Fiscal Year 2016.

Allianz Global Corporate & Specialty SE Key Developments

Allianz Global Corporate & Specialty Announces Executive Changes

Allianz Global Corporate & Specialty announced that it is expanding its global Environmental Impairment Liability (EIL) team with new senior hires in the North American and Mediterranean regions. In North America, Ken Baker joins as a dedicated claims specialist working in New York. Baker brings nearly a decade of technical claims experience while at AIG and before this he was with the Excess Casualty Global Broking unit at Marsh USA. Additionally, Nicole Baker and Steve Tagert join as executive underwriters; Baker will be based in Houston and Tagert in Philadelphia. In the Mediterranean, Dámaso Alvarez Peña joins as Head of EIL, Mediterranean region, and will be based in Madrid. Alvarez comes to AGCS from Chubb, where he was the regional environmental risk manager with responsibility over Iberia and Eastern Europe. Prior to this,Alvarez held positions in the private sector with a focus on business development and the environment.

Allianz Global Corporate & Specialty Launches Innovative Cyber and Professional Liability Coverage in North America

Allianz Global Corporate & Specialty® (AGCS) is introducing its next generation cyber and professional liability coverage product called ACCEPT Protect®designed exclusively for the North American market. Featuring a streamlined form structure with flexible terms, ACCEPT Protect is the first of its kind, offering individual or blended solutions for emerging threats across the Cyber, Media, Technology and Miscellaneous Errors & Omissions (E&O) markets. Specifically, ACCEPT Protect incorporates the strength of the existing Allianz product, Cyber Protect Premium, and adds the option of offering broad coverage for various professional indemnity (PI) exposures as part of the same policy if needed - a critical capability for the maturing North American market. The cyber risk is complex and ever-changing, with attacks and incidents increasing at exponential rates and costs climbing into the multimillions. According to the latest AGCS Cyber Risk Guide, the annual cost of cyber crime to the global economy is at $445 billion, and the projected annual cost to the world's large four economies - the U.S., China, Japan and Germany - is at over $200 billion.

Allianz Global Corporate & Specialty SE Announces Executive Changes

Allianz Global Corporate & Specialty SE (AGCS) announced that Paul O’Neill will become Chief Underwriting Officer Specialty, with effect from October 1, 2016, subject to regulatory approval. As a new Board of Management member for AGCS and based in London, he will oversee AGCS’ business in the Energy, Marine, Aviation and Entertainment lines of business. Currently AGCS’ Global Head of Marine and Energy, Mr. O’Neill succeeds Bill Scaldaferri who, as previously announced, takes over as AGCS Board responsibility for North America from Art Moossmann as of July 1. This move will allow Mr. Scaldaferri to focus on AGCS’s North American business specifically, which reflects the growing strategic importance of that region within AGCS, post the integration of Fireman’s Fund Insurance Company. Simon Buxton, currently AGCS Global Head of Reinsurance, will succeed Mr. O’Neill as Global Head of Marine and Energy on October 1, 2016. He will remain based in the London office of AGCS, and a successor for his current Reinsurance responsibilities will be announced in due course. With his core focus on the North American market, Mr. Scaldaferri will also hand over his current Board responsibility for Allianz Risk Transfer (ART) to Hartmut Mai, who is Chief Underwriting Officer Corporate for AGCS. This move reflects the increasingly close interactions between the traditional Corporate lines of business of AGCS and ART’s Corporate Solutions division, which offers specialized alternative risk transfer and multi-line insurance solutions for companies. Paul O’Neill has been Global Head of Marine and Energy since 2014 as well as Global Head of Energy, a role which he has held since 2005. A chemical engineer by training, he initially worked in the energy industry prior to moving into the insurance sector where he performed risk engineering reviews for the London insurance market. While working at Lloyd’s, he transitioned into underwriting and later joined Allianz as the Regional Manager for Energy in Singapore in 2003. Simon Buxton has over 20 years of experience in the reinsurance industry and took over the position of AGCS Global Head of Reinsurance at the start of 2013. Prior to joining AGCS, he was Head of Reinsurance Solutions for Allianz Risk Transfer for five years. Before joining Allianz Risk Transfer, he qualified as an actuary and worked in the insurance industry in a range of consulting and underwriting positions in Bermuda, Argentina and the UK.

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Bloomberg L.P. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Allianz Global Corporate & Specialty SE, please visit www.agcs.allianz.com. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.