Allianz

The appointment comes following the appointment of Ahad Khalid as head of power.

It emerged in November that the carrier’s construction head Daniel Abramson was leaving the business.

Political violence rose up the agenda, with conflict raging globally, and key elections due this year.

Directors and officers face an increased risk of litigation next year, according to a report.

The incoming AGCS CEO joined the carrier in 1998 and was most recently CEO of Central Europe.

The carrier has made several senior hires in energy and construction this year.

Allianz Trade recently announced that Stennett's role is being taken on by Peter Evola.

Profits were down 14.6% at group level to EUR3.46bn, which Allianz attributed to the P&C business segment, where nat cats had a 7.3-point impact on the combined ratio, the highest reported in a decade.

Reports show that the combined use of supply chain exploitation and data exfiltration is causing double-digit million-dollar losses for cyber insurers.

Valencia will drive the carrier’s strategy for portfolios including panels, facilities, MGAs, bancassurance and other forms of delegated authority.

The business was absorbed into AGCS from the former Fireman’s Fund portfolio.

The top five insurers on the continent maintained their ‘clear dominance’ in terms of scale.