Allianz Group has announced that it will serve the global commercial insurance segment as one go-to-market business under the trading name Allianz Commercial.
The business will contain an integrated approach that encompasses its Allianz Global Corporate & Specialty (AGCS) business, serving large corporate clients and the insurance businesses of Allianz’s operating entities serving mid-sized country-based accounts.
Allianz noted that the move is fundamental towards its ongoing strategy to expand its leadership position within property & casualty, as well as to grow through scalable platforms and drive agility in execution.
Moreover, Allianz Commercial will feature one single commercial lead in each country or region to represent the Allianz Commercial businesses. Teams who are currently focused on trading, underwriting, and customer delivery will work closely together under the new integrated operating model. At the same time, Allianz confirmed that the legal entities conducting the insurance business and their leadership will remain the same.
Allianz has confirmed that Joachim Mueller will lead Allianz Commercial as part of his responsibilities as CEO of AGCS SE, where he will report to Chris Townsend, Member of the Allianz SE Board of Management.
In addition, Dirk Vogler, former Member of the Board of Management of Allianz Versicherungs-AG, has been appointed as Chief MidCorp Transformation Officer, where he will report to Mueller
Chris Townsend, Member of the Allianz SE Board of Management, commented: “Allianz Commercial allows us to deliver the full value of Allianz’s scale and full set of capabilities for the benefit of our customers, brokers and shareholders.
“The introduction of Allianz Commercial is a powerful and natural continuation of our existing multi-year strategy to scale and globalize the commercial segment.”
Mueller, added: “Allianz Commercial is the result of market feedback encouraging us to combine the best of AGCS with the best of local Allianz businesses to serve more clients around the world,”
“The result will be simplicity, clarity and consistency for our customers, where we serve them with a wider range of products – from Allianz Multinational to climate solutions – in a seamless approach that preserves the trusted relationships and local know-how they value.”
