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AGCS Asia Management Changes

Alexander Ankel to lead Allianz Global Corporate & Specialty's growth plans in Asia

  • After eight years in leadership positions for Allianz and AGCS in the Asia Pacific region, Lutz Fullgraf, the current Regional CEO of AGCS Asia, moves to a new role within Allianz Group.

  • Kevin Leong, the current CEO of AGCS AG's Singapore branch, will move to Toronto to assume the role of Chief Agent, AGCS Canada.

PRESS RELEASE - Singapore. May 10, 2013

Alexander Ankel, currently CEO of Allianz Turkey, has been named as the new Regional CEO of Asia for Allianz Global Corporate & Specialty (AGCS), Allianz SE’s dedicated brand for corporate and specialty insurance customers. He will be based in Singapore, and starts in this new position on July 1, 2013. He succeeds Lutz Fullgraf, who will take up a new role within Allianz Group after concluding a handover period working alongside Mr Ankel. In addition to his regional responsibilities for AGCS’s offices in Singapore, Japan and Hong Kong, Mr Ankel is also intended to be CEO of AGCS AG’s Singapore branch office, succeeding Kevin Leong, who now moves to Toronto where he will run AGCS’s Canadian operations as Chief Agent, AGCS Canada from August 2013. These appointments are subject to regulatory approval.

Targeting Growth in Asia

AGCS Asia is a fast-growing part of AGCS’s global business, and is now entering its next phase of growth in the region. With AGCS’s premium income from growth markets forecast to increase from the current level of €600 million to around €2 billion in the next five years, the Asia region is expected to be a major contributor to this expansion.

“Lutz has been a key part of the global leadership team since he moved to Singapore in 2005” explained Andreas Berger, AGCS’s Chief Regions & Markets Officer. “We owe him a great deal for the excellent job he has done in building and leading this important region for AGCS. Under his leadership, AGCS Asia Pacific premium income grew five-fold from Euros 50 million in 2005 to more than Euros 260 million in 2012. From a 15-member team in Singapore, the business has expanded to over 500 staff across operations in the Pacific, Japan and Hong Kong. This is an excellent foundation on which we can base our future regional

Mr Ankel has been in several senior management positions since joining the Allianz Group in 1997 and has considerable experience and knowledge of Allianz’s Asian business. This new move marks his return to Asia where, prior to his new appointment, he was CEO of Allianz Fire & Marine Insurance in Japan from 2000-2004 and then CEO of Allianz Malaysia from 2004-2010. Further details of Dr. Fullgraf’s new position will be announced in due course.

At the same time, Kevin Leong, CEO of AGCS AG’s Singapore branch will hand over his management responsibilities in Singapore to Mr. Ankel who will take on this role in addition to his responsibilities as Regional CEO for Asia. Mr. Leong, who has been in Singapore for the last six years, was in charge of driving regional growth into new Asian markets, as well as having regional responsibility for Underwriting, Claims, Market Management and Risk Consulting. He will now assume the role of Chief Agent, AGCS Canada, with responsibility for AGCS’s fastgrowing business across Canada, and will be based in Toronto as from August

Click here to read more about AGCS Canada Management changes.


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