AGCS names Furtschegger as global head of entertainment

Allianz Global Corporate & Specialty (AGCS) has appointed Michael Furtschegger as global head of entertainment.

Furtschegger reports to Renate Strasser, an AGCS board member and chief underwriting officer for specialty. He is based in Munich.

Furtschegger has led the global entertainment team, which consists of around 60 people globally, since the end of 2020 on an interim basis, after his predecessor Lauren Bailey stepped down. The AGCS entertainment line of business provides specialised insurance solutions for film productions as well as live events in sports, music or culture.

Strasser noted the extreme challenges COVID-19 has presented to the entertainment industry and institutions responsible for insuring it. “Together with the global entertainment industry, we hope that the post-pandemic new normal will soon realise so that this sector can build on earlier growth and vibrancy,” she said.

Furtschegger was formerly head of entertainment international since 2016, steering the international expansion of this business segment. He originally joined AGCS in 2009 as a global customer relationship manager, and has served as executive assistant to Axel Theis, founding and long-term chief executive of AGCS.

He also worked in the New York office as quality and projects manager for global underwriting coordination, and as head of global strategy and development for the chief underwriting office specialty.

In 2020, entertainment contributed 3 percent to AGCS’s global gross written premium of €9.3 billion. COVID has caused a surge of claims, related to the cancellation of live events and the disruption of movie or film productions due to governmental lockdowns and social distancing measures.