Allianz Global Corporate & Specialty (AGCS) has announced that previous Head of Global Crisis Management, Christof Bentele, has taken on a newly created position as Head of Global Client Management for the Alternative Risk Transfer (ART) line of business.
Bentele assumes his new position effective immediately, and will oversee the management of existing and the development of new client and broker relationships across the firm’s global ART portfolio. He will be tasked with driving the expansion of ART’s solutions and services.
Last year, Allianz restructured its ART business line, which included its specialist insurance-linked securities (ILS) team becoming a stand-alone business line called Capital Solutions.
The rest of the Allianz ART business offers corporate solutions, reinsurance, and climate solutions, including weather risk transfer, parametric insurance, other services to help ceding companies and clients access the capital markets through insurance-linked securities (ILS) and third-party reinsurance capital related business, such as fronting.
Based in New York, Bentele will report to Michael Hohmann, Global Head of ART.
He joined the firm in 2014 to launch the AGCS Crisis Management Practice. During this time, he built a global team of experts and grew the business in the areas of product recall and contamination, terrorism and political violence.
“Christof has always put the customer at the center of what he does and I am extremely pleased that he has joined ART and is now helping us further develop our client solutions and services. Alternative risk transfer typically involves designing complex deals and programs which are tailored to the needs of a specific company and, with Christof’s support, we aim to make this process as smooth as possible for our customers,” said Hohmann.
Effective immediately, Bentele’s previous role as Head of Global Crisis Management will be split into two positions. Bjorn Reusswig has been named Head of Global Political Violence and Hostile Environment Solutions, and Stewart Eaton has been appointed Head of Global Crisis Management Recall. Both will report to Global Head of Liability at AGCS, Ciara Brady.
Reusswig joined the firm in 2015 as an Executive Underwriter for terrorism and political violence solutions, and in his new role will oversee AGCS’ international product offering for coverages such as terrorism and sabotage, terrorism liability, political violence and also special contingency and other hostile environment solutions.
Eaton joined AGCS in 2016 as Head of Product Recall for Regional Unit London, and has previously held positions with AIG and Lloyd’s of London syndicates.
“AGCS entered the crisis management business in 2015 and has had tremendous success building our footprint as a market leader. With the move of Christof to ART, I wanted dedicated leaders for these highly specialized and unique product suites. Both Björn and Stewart have the underwriting expertise and global insight to help AGCS be the insurance partner our clients need. I welcome them to my leadership team, and look forward to working with them in future” said Brady.
Allianz has put a considerable focus on growing the ART business lines recently, seeking to expand its underwriting of business through its alternative risk transfer (ART) unit in the Pacific region, including Australia and New Zealand and making recent senior promotions.