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Doug Pennycuick Heads Broker Distribution Initiative

  • Doug Pennycuick assumes new role as head of Allianz SE Broker Distribution Initiative
  • Steps down from Allianz Global Corporate & Specialty Board
  • Leads development of broker distribution channel across Allianz

AGCS NEWS - Munich. January 4, 2012

Doug Pennycuick has taken over a new role leading Allianz’s Broker Distribution Initiative (a project sponsored by Allianz SE Board Member Clement Booth) from January 1, 2012, and has stepped down from the Allianz Global Corporate & Specialty AG Board. Mr. Pennycuick will lead this team, reporting to Axel Theis (CEO of AGCS) and hosted within AGCS, which is in charge of steering the strategic development and growth of the broker distribution channel across Allianz worldwide. It also oversees coordination of broker initiatives at Group level and acts as a liaison function for central Allianz teams and broker channel experts at local and global Allianz operating entities.

Mr. Pennycuick resigned from his role as Chief Regions & Markets Officer of AGCS to focus on the development of this strategy exclusively. The initiative was established in 2009 by Allianz SE Board member Clement Booth and will take advantage of AGCS’s global business model with its links to local operating entities and Global Business Lines to drive best practice exchange and growth through the broker channel. Andreas Berger was appointed as CRMO of AGCS in July 2011 alongside Mr. Pennycuick and, as previously announced, will continue in this role as a Board Member of AGCS AG.

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