14 July 2022Reinsurance

Allianz to fold AGCS captives team into multinational business

Allianz has announced a series of changes to its multinational business that includes the integration of its captives team into that part of its business setup.

The Allianz Global Corporate & Specialty (AGCS) Captive Solutions team, led by Brian McNamara, will be integrated into the multinational business to serve customers with a broad range of services from traditional, multi-line global programs to captive fronting and reinsurance as well as hybrid combinations of traditional and alternative risk transfer.

Allianz said it is aiming to substantially expand its business from customers in the global insurance program sector to serve the increasing demand from large and medium-size companies needing cross-border coverage. AGCS is strengthening its capabilities, including a new market-facing team as well as dedicated investments in data and technology, and will expand its customer services.

To support its multinational customers, AGCS has also moved the management board responsibility to the ‘regions and markets’ area led by Henning Haagen, who oversees market-facing activities including distribution. The new AGCS multinational set-up also includes a strengthened global leadership team and enhanced regional responsibilities. Guy Money, currently global head of product at AGCS, has been appointed global head of multinational business.

“With our new strategy and set-up, integrated with the network strength of Allianz Group, we are well positioned to capture new business in this sophisticated segment of corporate insurance. This ambition is very much in line with our overall market leadership aspiration”, said AGCS chief executive Joachim Mueller.