Allianz Global Corporate & Specialty (AGCS) has announced that current head of Alternative Risk Transfer (ART), Regional Unit London (RUL), Grant Maxwell, has moved to the newly created role of Head of Underwriting and Portfolio Management.
In his new role, which is effective immediately, Maxwell will report directly to Michael Hohmann, Global Head of ART.
At the same time, AGCS has announced that Dan Tomlinson, currently a senior ART underwriter in London, succeeds Maxwell as Head of ART for the RUL area, which includes the UK, Ireland, Dubai, Russia, and also the Nordic Region. Tomlinson will report to Tracey Hunt, Deputy Chief Executive Officer (CEO), AGCS UK.
The firm announced last year that it had restructured its ART business line, which included its specialist insurance-linked securities (ILS) team becoming a standalone business line called Capital Solutions, led by Richard Boyd. The remaining ART operations, which provide Corporate Solutions, Reinsurance and Claims Solutions, continue to operate under the Alternative Risk Transfer name, led by Michael Hohmann.
Within this sit areas such as weather risk transfer and the insurance-linked securities (ILS) and third-party reinsurance capital related businesses, such as fronting, at Allianz.
Maxwell now takes responsibility for overseeing AGCS’ global ART and Capital Solutions underwriting process, and also shared services and portfolio management for the ART business line.
Tomlinson and Maxwell are expected to work closely together in their new roles and also with the ART leadership team, which includes regional heads Karsten Berlage in North America, Richard Green in Asia Pacific, and Rob Makelaar in Europe, the Middle East and Africa.
“Grant has been a key member of the ART team since 2008, and has been involved in many of our significant initiatives since that time. I’m confident he’ll continue to help us deliver innovative and cutting-edge risk transfer solutions to help our clients manage their businesses in today’s environment.
“Dan’s expertise has enabled us to build our bespoke weather insurance solutions into a key part of the business. I’m excited to have both Grant and Dan as part of my global leadership team,” said Hohmann.
Hunt added: “An increasing number of our multinational customers demand more customized and sophisticated risk transfer solutions particularly around their more complex or ‘intangible’ risks. Grant’s new global role and Dan’s appointment as Regional Head of ART will position us well to strengthen our bespoke solutions beyond traditional risk transfer.”
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