Allianz Global Corporate & Specialty (AGCS) has announced the promotion of Hyeji Kang as its new Global Head of Reinsurance and Catastrophe Risk Management as incumbent Bernhard Arbogast is set to retire.
Arbogast, who is also Chief Portfolio Officer of Allianz Risk Transfer AG, the unit of the insurance and reinsurance firm that manages the Alternative Risk Transfer (ART) line of business and assists ceding companies and clients to access the capital markets through insurance-linked securities (ILS) and third-party reinsurance capital related business, such as fronting, will retire in May 2020.
Kang moves into the role of reinsurance and catastrophe risk management lead for Allianz AGCS immediately, with a handover period to run until the end of the year at which point Arbogast will also step down from the Allianz Risk Transfer AG Executive Board.
Kang was most recently the Head of AGCS’ Actuarial Function based in Munich, prior to which she was Chief Actuary for the AGCS North American region. A successor for her actuarial role is expected to be announced in the coming weeks.
Chief Financial Officer and AGCS Board Member Claire-Marie Coste-Lepoutre commented on the news, “I’m very pleased to welcome Hyeji to my global leadership team, as she brings deep Actuarial knowledge through both her professional background and her leadership in one of the key AGCS regions for more than four years and in the Actuarial global team in Munich recently. I would also like to thank Bernhard for his expertise and professionalism and wish him the best for a very well deserved retirement after many years of dedication to Allianz.”
Kang joined AGCS in its Chicago office in 2015 as Chief Actuary for North America. In 2018 she moved to Munich as Head of the insurance and reinsurance firm’s Actuarial Function.
Before joining AGCS, Kang held various consulting and in-house positions at PwC, CNA Insurance and Willis Towers Watson.
Arbogast retires after over 25 years working for Allianz. He joined Allianz Group as a Reinsurance Underwriter at Allianz AG in 1987. After eight years working for Allianz he moved to Zurich Financial Services as Group Chief Actuary. In 2003 he returned to Allianz as Chief Financial Officer at Allianz Risk Transfer AG and from 2007 until now has held the position of Chief Portfolio Officer at Allianz Risk Transfer AG. Since 2016 he has also led the AGCS Global Reinsurance and Catastrophe Risk Management team.