18 March 2013 Insurance

Allianz targets growth across Africa

Germany insurer Allianz has revealed an extensive investment programme to boost its presence across Africa. It has hired five new senior executives in the continent since the start of 2013 and the company is targeting Sub-Saharan Africa in particular, where it anticipates strong growth.

The company’s regional division, Allianz Global Corporate & Specialty Africa (AGCS Africa), will look to expand throughout the continent. The Sub-Saharan economic area is forecast to grow by more than 5 per cent this year and Allianz believes this growth will lead to requirements for infrastructure development, particularly given the area’s richness in natural resources

“South Africa and Sub-Saharan Africa are important markets. AGCS Africa is looking to grow significantly and being able to bring in further expertise will help us achieve this,” said

Delphine Maidou CEO of Allianz AGCS Africa.

“Our plan is to use our established team in Johannesburg as the hub for sub-Saharan Africa in general. We will continue to focus on working with local brokers and having an active team of people on the ground in countries where the business is generated. As we continue to grow I look forward to strengthening the team further.”

The new hires are as follows: Wolfram Schultz joined from Guy Carpenter as head of liability; Alexandra Grant was appointed head of financial lines, joining from AIG UK; Seelan Naidoo joined as head of engineering & property; Geoffrey Tanton, previously group underwriting manager of Omnicover, joined as head of package & multi-line; and Mark Govender was appointed head of marine, joining from Chartis Insurance SA.

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