Allianz to shut 'untenable' Australia and New Zealand units as claims mount; Pacific CEO departs

04-07-2019

Allianz to shut 'untenable' Australia and New Zealand units as claims mount; Pacific CEO departs

iStock/ Lukassek

Allianz Global Corporate & Specialty (AGCS), Allianz group's specialist corporate insurer, will cease underwriting long tail risks in Australia and close its operations in New Zealand with effect from September 2019, following a "strategic review" of the business. The decision has led to the departure of its Pacific CEO Willem Van Wyk.


Allianz, AGCS, Long tail risks, Australia, New Zealand, Willem Van Wyk, Asia Pacific, Appointment, James Stack, Cease underwriting, Claims, Insurance

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