David Brown, AGCS
David Brown has been appointed as head of Allianz Global Corporate & Specialty’s (AGCS) capital solutions unit in Bermuda, with Richard Boyd, who currently holds the role, stepping down and returning to the UK for family reasons.
Brown, who is currently AGCS’ head of insurance linked markets, will take on the new role from July 1, 2021, subject to local regulatory approval, overseeing the business that is responsible for structuring insurance linked securities (ILS).
Brown joined Allianz Risk Transfer in London in 2007 and moved to Bermuda as an underwriter in 2010, becoming head of insurance linked markets in 2015. He was appointed president of AGCS’ subsidiary, Allianz Risk Transfer (ART) in Bermuda in 2020. He spent his early career at Marsh, focusing on structuring alternative risk transfer and captive solutions.
Boyd joined ART in London in 2005, before moving to Bermuda in 2008 and becoming head of insurance linked markets in 2010. In 2015 he was named chief underwriting officer for ART globally, before becoming global head of capital solutions.
Grant Maxwell, global head of ART, noted that Brown and Boyd have worked together for many years, making Brown “ideally positioned to take over” and “continue to build this important part of our business.”
ART is based in London and has teams in Bermuda, New York, Lichtenstein, Zurich and Singapore. On a gross premium basis, including fronting and reinsurance, it generated over 20 percent of AGCS’ total revenues of €9.3 billion in 2020.
Allianz, David Brown, Richard Boyd, Grant Maxwell, Insurance linked securities