Shake up at Allianz continues as another key executive exits
Insurer Allianz Holdings has revealed yet another significant departure, adding to the recent exit of two high-ranking executives amidst wider restructuring at the company.
Simon McGinn (pictured), CEO of Allianz Commercial, is stepping down effective July 1. The move follows the recent departure of CFO of Allianz Insurance Fernley Dyson and Allianz Personal CEO Steve Treloar.
McGinn joined Allianz in 2004 as a trading director before moving into the role of director, commercial broker markets. In 2013 he was appointed to the UK management board as general manager for Commercial and led the business through a revision of its strategy driving modernisation, profitability and a growth culture. In May 2016, he was appointed to the role of general manager for commercial and personal businesses with responsibility for all of Allianz UK’s market strategy and trading business operations. Following a restructure in 2021 he was appointed CEO of Allianz Commercial.
Colm Holmes, Allianz Holdings CEO commented: “Not only has Simon a long history of driving success in our business he’s also been at the helm for milestones including Brexit, our joint venture with LV= and of course Covid-19. He leaves a substantial legacy and I’d like to thank him for his enormous contribution to Allianz UK.”
McGinn added: “We have built a great business across both Commercial and Personal lines and I’m hugely proud of all we’ve achieved. It’s been wonderful to work with such fantastic people and I wish Colm, Nadia and all the team the very best as Allianz continues its transformation journey.”
The appointment of Nadia Côté as commercial managing director UK, was announced in March as part of a new Globally integrated approach bringing together Allianz Global Corporate & Specialty (AGCS) UK, which focuses on large clients, and Allianz Holding’s UK commercial business under one strategy and approach.
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