Allianz

The move underlines John Neal’s drive to embrace the wider London market.

The executive was the first woman to join the German carrier’s board, and was previously head of group M&A.

The German carrier unwinds an eight-year-old alliance originally forged with Banco Popular.

The senior management moves come as former aviation chief Mike Hansen prepares to leave for Convex

The move follows the carrier’s buyout deals last week for the general insurance operations of Liverpool Victoria and Legal & General.

It wasn’t the huge fund management acquisition that Allianz executives had been doing their level best to downplay in recent weeks.

Terzariol says big fund management purchases often “look good on PowerPoint presentations” only.

The broker will head up a structured solutions unit advising on bespoke cover for clients with complex needs.

The carrier has set an initial reserve of EUR50mn for the loss.

AGCS profit falls 23 percent after absorbing losses from the Boeing grounding and the Vale dam collapse.

Allianz, Swiss Re or, let’s be honest – Convex – would have been better for John Neal. But Samsung Fire & Marine’s decision to buy into Lloyd’s business Canopius represents a highly positive codicil to last week’s strategy announcement.

The acquisition of the general insurance arm would increase the German insurer’s presence in the UK.