- Andreas Berger and Hartmut Mai to join Allianz Global Corporate & Specialty AG Board of Management.
- Doug Pennycuick and Dr. Hermann Jörissen to leave AGCS Board in phased handover during second half of 2012.
Allianz Global Corporate & Specialty AG (AGCS) has announced two new appointments to its Board of Management: on July 1st 2011, Andreas Berger, currently Regional CEO of AGCS’s London branch, joins the company’s Board, followed on January 1st 2012 by Hartmut Mai, currently AGCS’s Global Head of Financial Lines.
Doug Pennycuick (59), AGCS’s Chief Regions & Markets Officer, will continue as an AGCS Board Member until June 30th 2012, taking shared responsibility with Berger during this 12 month period for the company’s regional network of offices and for sales (totaling €4.0 billion in gross premiums in 2010) as well as for client and broker relationship management. Dr Hermann Joerissen (60) will also leave the AGCS Board on December 31st 2012, sharing his responsibilities as Chief Underwriting Officer for AGCS’s Global Corporate division with Mai during that year. In his new role, Mai will take over the management of AGCS’s worldwide portfolio of Property, Liability, Engineering and Financial Lines (including Directors & Officers) underwriting, which in 2010 totaled €2.4 billion in gross premium (59% of the overall AGCS underwriting portfolio).
Berger (45) became Regional CEO of AGCS’s London branch in 2009 (with overall responsibility for the operations of AGCS in the UK, Ireland, Belgium, The Netherlands and South Africa), having joined the company to establish its Global Market Management function in 2007.
Mai (45) is a lawyer by training and joined AGCS in 2007, when he was tasked with developing a global Financial Lines underwriting team. Since then AGCS has expanded its portfolio of Financial Lines offerings beyond Directors & Officers Liability to include Employment Practices Liability, Pension Trust Liability and Professional Indemnity, among others.
“I am delighted to be able to welcome Andreas and Hartmut to our Board of Management,” explained Axel Theis, AGCS CEO. “Both have played leading roles in building AGCS since its formation in 2006, and this 12 month handover period will allow them to transition into their new roles effectively.”