Allianz

The carrier is scrutinising and amending group-wide policy language to clarify coverage for cyber risk across all lines of business.

The insurer currently employs 2,000 staff and affiliates in China.

Regional head of energy Tracey Hunt becomes deputy CEO.

The executive’s term will end in September 2024.

The P&C combined ratio falls to 93.1 percent, though AGCS remains loss-making at an underwriting level.

Former Marsh broker Richard Green becomes regional head.

When reinsurers are too big it is their cedants that can suffer, but when the buyers are too big it is the reinsurers that are squeezed by the asymmetrical relationship.

She worked at Liberty Mutual, BP and Siemens before joining AGCS.

The Allianz unit carves out a specialist ILS business to be led by Richard Boyd, who is now CUO of the alternative risk transfer business.

Agostino Galvagni will step down at year end, and be replaced in April by Andreas Berger.

He leaves AGCS after almost 10 years at the insurer.

Liability cover and a separate D&O policy held by the bridge operator’s parent could also come into play.