HDI Global Specialty enters new German market with senior AXA hire

HDI Global Specialty SE has plans to enter the German fine art and high net worth insurance market with the hire of Alexander Wiebe from AXA.

Wiebe has over 20 years’ insurance experience and is the former chief financial officer (CFO) of AXA ART.

He will join the specialty lines insurer as head of fine art & lifestyle Continental Europe and managing director, HDI Global Specialty Underwriting Agency.

In his new role, Wiebe will be tasked with building a fine art and lifestyle underwriting team based in Cologne. The insurer expects to be trading in the German market with its first fine art risk solution within the first quarter of 2021.

HDI Global Specialty will initially launch an all-risks cover for art and collectors' items, targeting private customers, galleries and museums. The insurer will also be offering policies to high net worth private customers, for valuable household contents and residential buildings as part of an all-risk cover.

The new policies are being developed by HDI Global Specialty Underwriting Agency GmbH, (HGSU) leveraging resources throughout the HDI organisation.

In the medium term, the new fine art team is expected to supplement art and Lifestyle insurance with additional services and increase the product range for wealthy private customers and internationalise its business activities.

Ralph Beutter, chief executive of HDI Global Specialty, said: “Alexander has an enviable track record in the insurance industry in general and in Fine Art and high net worth insurance in particular. Having spent five years on the Board of AXA ART, his experience will no doubt prove invaluable as we establish ourselves as a significant player in the German market. The new team will complement the existing Fine Art underwriting operations in London, headed up by Nick Brett.”

Wiebe added: “I am looking forward to using my years of experience and market knowledge in building a new team here in Cologne. HDI Global Specialty has made significant progress since its launch at the start of 2019, and I look forward to playing my part in its continued growth and success.”