Allianz
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The former deputy CFO for the region replaces Renate Wagner.
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The formation of the $470mn P&C and life reinsurer was announced last week. -
Air crashes and faulty workmanship were the next most expensive sources of losses, according to an AGCS analysis spanning five years.
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Bermuda-based Enhanzed Re will assume both non-life and life risk.
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The European carriers’ Chinese expansion coincides with a relaxation of financial sector ownership rules.
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Demand for larger limits is also increasing, with a race among brokers to place $1bn in limit.
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Shares in the Munich-based carrier close down on concern the group is gearing up for large-scale M&A.
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The carrier is scrutinising and amending group-wide policy language to clarify coverage for cyber risk across all lines of business.
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The insurer currently employs 2,000 staff and affiliates in China.
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The executive’s term will end in September 2024.
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The P&C combined ratio falls to 93.1 percent, though AGCS remains loss-making at an underwriting level.
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