25th July 2021

Allianz establishes new Global Commercial Insurance divison

A new division for Global Commercial insurance has beens established under Chris Townsend, Member of the Allianz SE Board of Management responsible for Global Insurance Lines & Anglo Markets, Reinsurance, Middle East and Africa. The Global Commercial Group Center will enable a dedicated focus on the P&C commercial sector, which represents a significant, organic growth opportunity for the Group.
Global Commercial brings together and builds on the substantial resources and expertise within the Allianz Group, to drive benefits to our customers and distribution partners.
“We are excited about the opportunities this division represents for customers and our businesses,” said Oliver Bäte, ceo of Allianz SE. “Current market conditions make the timing perfect to bring a dedicated focus to our commercial P&C business."
“These changes will improve our underwriting capabilities and customer propositions right across the commercial sector, but with a particular focus on the mid-market business outcomes, and enable profitable growth, while driving enhancements in our client service,” added Townsend.
Global Commercial is structured into three business units: Chief Underwriting Office, Business Transformation and Global MidCorp.
The Chief Underwriting Office will be led by Rasmus Nygård, who joins from AIG on 1st September 2021. In his future role, he will be responsible for developing an overall underwriting strategy for the business in order to drive a consistent and transparent offering to our clients and distribution partners on a global basis.
Business Transformation is led by Jörg Hipp, previously member of the Board of Management of Allianz Versicherungs-AG for the Automotive division. He has responsibility for further driving a data-driven business model while improving the underwriting process to enhance accuracy, efficiency and speed.
Global MidCorp is led by Ole Ohlmeyer, previously already responsible for the regional MidCorp hubs. The Global MidCorp unit will operationalize the Global Commercial strategy jointly with the regions and support them with specific capabilities for underwriting operations and portfolio management.

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