Allianz Global Corporate & Specialty (AGCS) has appointed Grant Maxwell as the new Global Head of Alternative Risk Transfer within the unit of the global insurance and reinsurance player.
At Allianz, the AGCS Alternative Risk Transfer (ART) line of business provides corporate solutions, reinsurance, and climate solutions, including weather risk transfer, parametric insurance and structured risk transfer.
It also provides other services to help ceding companies and clients make their coverage more efficient, and works alongside the Capital Solutions line of business which specialises in insurance-linked securities (ILS) and third-party reinsurance capital related business, such as fronting.
Maxwell has led the ART team at Allianz AGCS since February on an interim basis, but now takes on the role permanently, reporting directly to AGCS SE Board Member and Chief Underwriting Officer Corporate Tony Buckle.
Buckle commented on the announcement, “I look forward to working with Grant and his team to further evolve ART’s client offering and global model. AGCS focuses on serving large, multinational companies – and these are increasingly seeking innovative solutions to protect their earnings and cash flow risks or to cover unusual or complex risks, where traditional insurance products are inadequate. Therefore, ART solutions are an increasingly important differentiator for AGCS in the market.”
Maxwell had held the role of ART Head of Underwriting & Portfolio Management since May 2019. He joined AGCS in March 2008 and was Regional Head of ART for AGCS’ Regional Unit London and also Head of ART Deal Management since February 2010.
Prior to joining Allianz, Maxwell worked in senior underwriting roles at XL Capital, Gerling and St Paul Re, before which he was an actuarial consultant at Tillinghast, a unit of Willis Towers Watson
The Allianz AGCS ART business generated gross written premium of approximately 800 million Euro in 2019, including fronting premiums and is a growing piece of the overall Allianz business.