Allianz Global announces board changes

Andreas Berger, pictured, currently regional chief executive of AGCS’s London branch will join the board on 1 July and on 1 January 2012, he will be joined by Hartmut Mai, AGCS global head of financial lines.

Doug Pennycuick, AGCS chief regions & markets officer, will continue as an AGCS board member until 30 June 2012, taking shared responsibility with Mr Berger during this 12-month period for the company’s regional network of offices and for sales (totaling €4.0 billion in gross premiums in 2010) as well as for client and broker relationship management.

Dr Hermann Joerissen will also leave the board on 31 December 2012, sharing his responsibilities as chief underwriting officer for AGCS’s Global Corporate division with Mr Mai during that year. In his new role, Mr Mai will take over the management of AGCS’s worldwide portfolio of property, liability, engineering and financial Lines (including directors’ & officers’) underwriting, which in 2010 totalled €2.4bn in gross premium (59% of the overall AGCS underwriting portfolio).

Mr Berger became regional CEO of AGCS’s London branch in 2009, with overall responsibility for the operations of AGCS in the UK, Ireland, Belgium, The Netherlands and South Africa, having joined the company to establish its global market management function in 2007.

Mr Mai joined AGCS in 2007, when he was tasked with developing a global financial lines underwriting team. Since then AGCS has expanded its portfolio of financial lines offerings beyond D&O liability to include employment practices liability, pension trust liability and professional indemnity, among others.

“I am delighted to be able to welcome Andreas and Hartmut to our board of management,” explained Axel Theis, AGCS CEO. “Both have played leading roles in building AGCS since its formation in 2006, and this 12 month handover period will allow them to transition into their new roles effectively.”