Allianz Global Corporate & Specialty (AGCS) has hire Peter Kiernan, formerly the CUO and a President in Bermuda at AXIS Re, to the role of Head of Reinsurance North America for the Allianz Alternative Risk Transfer (ART) division.
Allianz Risk Transfer AG is the unit of the insurance and reinsurance firm that manages the ART line of business, part of which involved helping ceding companies and clients to access the capital markets through insurance-linked securities (ILS) and third-party reinsurance capital related business, such as fronting.
Kiernan had worked at Bermuda based reinsurance firm AXIS Re for roughly 13 years, departing in the second-half of 2019.
He was most recently the Chief Underwriting Officer and President of the reinsurer. His exit from AXIS Re coincided with a raft of management changes at the company.
Now, Kiernan has landed at Allianz Risk Transfer as the lead for the companies U.S. and North America reinsurance underwriting operations, a key role given ART’s work in fronting for ILS capacity providers is largely U.S. focused.
Kiernan joined Allianz ART this month and we understand will remain working out of Bermuda.
Allianz has been on a hiring spree in recent months for its reinsurance focused areas of the AGCS business and ART.
The company promoted Hyeji Kang as its new Global Head of Reinsurance and Catastrophe Risk Management and named Christof Bentele as Head of Global Client Management for the Alternative Risk Transfer (ART) line of business