Allianz Global Corporate & Specialty (AGCS) has recruited insurance linked markets head David Brown to lead its capital solutions unit, succeeding long-term colleague Richard Boyd in the role.
He’s expected to officially start on July 1, subject to local regulatory approval.
Boyd, meanwhile, is leaving Allianz and moving back to the United Kingdom from Bermuda for family reasons.
He joined what was then Allianz Risk Transfer (ART) in London in 2005, moving to ART Bermuda in 2008.
Boyd subsequently became head of insurance linked markets in 2010 before stepping up to Chief Underwriting Officer for ART globally in 2015, and then Global Head of Capital Solutions.
Brown joined Allianz Risk Transfer in London in 2007 and moved to Bermuda as an underwriter in 2010.
He became Head of Insurance Linked Markets in 2015 and was appointed President of AGCS’ subsidiary, Allianz Risk Transfer (Bermuda) Limited, in 2020.
Grant Maxwell, Global Head of Alternative Risk Transfer, commented, “Richard and David have worked together for many years, and so while we’re sorry to see Richard move on to take his next career steps outside Bermuda, David is ideally positioned to take over from him, and to continue to build this important part of our business.
“I want to thank Richard for his great contribution to AGCS and we all wish him well in the future.”