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Allianz Global Corporate & Specialty Launches Financial Lines Insurance Coverage in the U.S.

PRESS RELEASE - New York. January 12, 2015

Allianz Group’s specialist corporate insurer Allianz Global Corporate & Specialty (AGCS) announced today that it is launching its suite of financial lines insurance products in the U.S. Paul Schiavone has been named to the new role of regional head of financial lines North America effective today.

Schiavone will develop AGCS’s Financial Lines business in the U.S., a strategically important market responsible for 60 percent of global financial lines premiums.  He will work alongside Hugh Burgess, regional head of corporate North America; Bernard Poncin, global head of financial lines; and Hartmut Mai, chief underwriting officer for corporate lines.

Based in New York City, Schiavone will lead the North American team of existing Professional Indemnity (PI), Directors and Officers (D&O) and Errors and Omissions (E&O) teams in Canada as well as the Professional Liability teams coming to AGCS as part of the Fireman’s Fund Commercial integration.

“We are truly excited to have someone of Paul’s proven abilities and outstanding reputation to help us establish a North American Financial Lines team. By joining the existing groups in Canada with our Fireman’s Fund team, we have the opportunity to introduce an exceptional AGCS solution to our clients and brokers throughout North America,” said Burgess.

Schiavone joins Allianz from Zurich US, where he was responsible for the Private Equity Practice. Previously, he worked in the London office of Zurich General Insurance as the Global Chief Underwriting Officer for Special Lines. Prior to Zurich, he worked at American Wholesale Insurance Group Brokerage, AIG Europe SA, American International Underwriters, and National Union Fire Insurance Company. Paul earned his Juris Doctorate from New York University and has a bachelor’s degree from Seton Hall University.

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