- Increased focus on regional strategy and development of client and broker services
- Art Moossmann and Andreas Berger to be joint Chief Regions & Markets Officers
- Bill Scaldaferri to lead Global Specialty division as Chief Underwriting Officer
PRESS RELEASE - Munich, September 24, 2013
Allianz Global Corporate & Specialty AG (AGCS) has announced new responsibilities on its management board from January 1st 2014 which will increase its focus on the delivery of client and broker services through its international office network. Global responsibility for these activities will now be shared between two ‘Chief Regions & Markets Officers’ (‘CRMOs’): Munich-based Andreas Berger, who takes responsibility for continental Europe, Africa and Asia, and New York-based Art Moossmann who takes responsibility for North and South America, the United Kingdom and Ireland, the Middle East, the Nordic region and Russia, and for the Pacific region. AGCS Board Member Bill Scaldaferri expands his role to become Chief Underwriting Officer (‘CUO’) for Global Specialty lines, in addition to his existing role as CEO of AGCS subsidiary, Allianz Risk Transfer AG, and will remain based in New York.
The moves respond to AGCS’s growth in recent years. Since its formation in 2006, AGCS has nearly doubled its revenues from €2.8 billion to €5.3 billion (gross written premium 2012). In parallel it has expanded its market-facing teams significantly and now has more than 3,500 dedicated staff in 28 countries worldwide, as part of a wider network of Allianz companies and network partners which provides cover for clients in over 160 countries.
The two CRMOs will work together to lead AGCS’s regional strategy, with a specific focus on the delivery of services for clients and brokers, such as global insurance programs. Brokers are a key distribution channel for AGCS, which focuses on underwriting larger corporate or specialty risks, especially those with multi-national exposures. In addition to his AGCS responsibilities Mr. Berger will be driving Allianz Group-wide initiatives, with particular focus on the strengthening of broker management as one of the fastest growing distribution channels for Allianz.
Mr. Scaldaferri takes over as CUO Global Specialty from Mr. Moossmann, who has held this position since 2009. The Global Specialty division consists of Marine, Aviation and Energy product lines which, when combined with Allianz Risk Transfer’s revenue, totaled more than 50% of AGCS’s gross written premiums in 2012.
Axel Theis, AGCS CEO, explains: “This is the right move at the right time to drive the next phase of AGCS’s strategy. By having two highly experienced CRMOs working in partnership, the important and fast-increasing responsibility for our regional strategy and market-facing activities will be shared between Andreas Berger and Art Moossmann at Board level. In addition, Bill Scaldaferri’s previous experience makes him an ideal candidate for the CUO Global Specialty role as we continue to develop these important business lines in the future.”
Photos available here.