Allianz

The pair will be present in 29 countries, and the chairmanship will rotate between the two firms every two years.

The insurer added that, from July 2023, it would no longer renew contracts for existing projects.

Alli MacLean will take on the expanded role following the exit of contingency chief Yael Mimran.

The carriers have placed a legally binding cat excess-of-loss reinsurance contract using B3i’s platform.

Vanessa Maxwell will succeed, and subsequently report to, Shanil Williams, who was promoted to the board in January.

Trade credit insurer Euler Hermes has become Allianz Trade in a company rebrand – a move Allianz described as “natural”, given that the former had been a full part of Allianz Group since 2018.

Linda Daly will join the company’s D&O division led by Michael Chu.

The trio join WTW, Aon, Marsh McLennan, Hannover Re and Generali in shunning Russia over the Ukraine invasion.

The appointment comes after underwriter Matthew Wells left AGCS to join Axa XL.

Allianz looks the most exposed to the conflict, with roughly EUR2bn of its EUR809bn of investment assets at risk, according to the analyst.

The program, specifically for SMEs, covers a range of products within management and professional liability.

The carrier has increased the capacity of its aggregate layer from EUR300mn to EUR500mn.