- Sinéad Browne for HR, Catastrophe Management and Discontinued Business
- William Scaldaferri for Allianz Risk Transfer and Reinsurance
PRESS RELEASE - Munich/Zurich. November 26, 2011
Allianz Global Corporate & Specialty AG (AGCS), the Allianz center for corporate insurance, has announced two new appointments to its Board of Management with effect from January 1, 2012: Sinéad Browne joins AGCS from Allianz Re to oversee HR as well as Discontinued Business and Catastrophe Management, and will be based in Munich. She will also take over Claims Management from Hermann Jörissen upon his retirement in January 2013. William Scaldaferri, CEO of AGCS’s wholly-owned subsidiary Allianz Risk Transfer (ART), also joins the Board, with responsibility for Reinsurance and for ART (for which he remains CEO), and will remain based in New York.
“I am delighted to welcome Sinéad and William to our Board of Management,” explained Axel Theis, AGCS CEO. “With their profound expertise, a proven track record of various assignments, and an international mindset, they personify the new generation of insurance leaders. Along with the other AGCS Board members they will help us to meet future challenges and capitalize on opportunities for our clients.”
Ms. Browne’s appointment signals the continuing development of two key parts of AGCS’s business: Claims Management which, for AGCS, involves supporting clients in over 150 countries worldwide with over €1.1 billion paid to clients during the first nine months of 2011. Her Board responsibility for Human Resources reflects the growth of AGCS since its foundation in 2006: staff numbers have increased by more than 75% since then to over 3,000 employees in 27 countries and the company has established 17 new AGCS offices during the period globally.
Ms. Browne (39), an Irish citizen, started her career in underwriting and broker management with Allianz Ireland in 1993 before moving in 2004 to Allianz SE in Munich, managing strategic projects within the Global Strategy Department. She became Head of Operations at Allianz Re in 2007 and was appointed Chief Operating Officer two years later. Allianz Re provides reinsurance solutions to Allianz Group companies and external clients.
Mr. Scaldaferri’s appointment reflects the growing importance of ART as a core part of the overall AGCS portfolio. Founded in 1997 in a single office in Zurich, ART now has locations in New York, Bermuda, The Netherlands, London, Zurich and Dubai. Its team of around 65 specialists offers highly customized services for corporate clients seeking non-traditional solutions to risk management challenges. These include (re)insurance and ‘insurance linked markets’ products (where ART helps investors gain access to insurance risks) as well innovative solutions such as bespoke weather risk insurance. AGCS and ART jointly serve many international clients offering complementary insurance solutions.
Mr. Scaldaferri (44), a US national, has over 20 years’ experience in management and underwriting of traditional and structured reinsurance products. He joined Allianz Risk Transfer in Zurich in 1999, becoming Chief Underwriting Officer of ART Group in 2001 and then Chief Executive Officer of ART globally in 2009.