Allianz
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Talanx, Groupama and Itas had shown interest in the P&C business. -
Elke Vagenende will lead the newly established region, completing Allianz’s leadership team across 11 regions.
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The capacity, provided by Allianz, will allow Hive to deepen its exposure in the class.
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In the new role, Giulio Terzariol will take on responsibility for the firm's insurance business units.
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The carrier is rebuilding its financial lines team following a number of staff exits from the division.
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Inflation, supply chain bottle necks and issues with emerging technology are all challenges for the sector.
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Haagen leaves after a 15-year tenure at Allianz, having been a board member of AGCS since early 2020.
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The underwriter is returning to the company after stints at TransRe and Liberty Specialty Markets.
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The carrier exited the Net Zero Insurance Alliance in May among other insurers.
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Downstream underwriters have been pushing for rate this year following high claims activity in 2022.
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AGCS confirmed that hull underwriter Ashley Hammond is staying with the business.
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The commercial lines unit increased premiums by 7%, with rate rises up 7% year to date.
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