AGCS boosts board; introduces new line
Allianz Global Corporate & Specialty (AGCS) has expanded its board of management with new regional responsibilities.
The AGCS chief regions and markets office (CRMO), a board function which oversees the ACGS network of 28 offices and orchestrates market-facing activities, is to be split into three divisions from its current set up of two.
As a new board member Carsten Scheffel, currently regional chief executive officer (CEO) for AGCS in London, will lead the AGCS business in UK, Ireland, the Nordic Region, Russia and Central & Eastern Europe, Middle East, Australia and New Zealand, and South America.
Art Moossmann, already a member of the AGCS board of management, leads the second region with a newly refined focus on North America, namely the US, Canada and Mexico including CEO responsibility for this region. The move is designed to support the integration of the commercial business of Fireman’s Fund Insurance Company (FFIC) into AGCS North America which will give AGCS significant further scale in this region.
The responsibility for the third region covering Germany, Austria and Switzerland, the Mediterranean Region, Asia and Africa remains unchanged: board member Andreas Berger continues to be in charge of business in these countries while remaining responsible for managing the broker distribution channel for the Allianz Group.
AGCS has also introduced a new line of business to serve mid-size companies under the ‘mid-corporate’ banner in selected countries.
Hugh Burgess, currently regional CEO of AGCS for North America, will become the global head of AGCS’s “mid-corporate” line of business. The business will focus on businesses with revenues that fall under the normal AGCS corporate client threshold of €500 million annual revenues.
It will provide property and liability insurance solutions for mid-sized businesses typically with revenues above €100 million in markets where other Allianz property & casualty companies are not active.
“The reorganisation of our regional set up and creation of a mid-corporate line of business reflects AGCS’s growth, especially in the important North American property & casualty market, as well as the company’s increasing diversification by product and by geography,” said Axel Theis, CEO of AGCS.
