Paul O’Neill to be appointed to Board of Management of Allianz Global Corporate & Specialty

This move will allow Mr. Scaldaferri to focus on AGCS’s North American business specifically, which reflects the growing strategic importance of that region within AGCS, post the integration of Fireman’s Fund Insurance Company. In 2015, AGCS North America produced 46 percent of AGCS’s overall gross written premiums of €8.1 billion.

Simon Buxton, currently AGCS Global Head of Reinsurance, will succeed Mr. O’Neill as Global Head of Marine and Energy on October 1, 2016. He will remain based in the London office of AGCS, and a successor for his current Reinsurance responsibilities will be announced in due course.

With his core focus on the North American market, Mr. Scaldaferri will also hand over his current Board responsibility for Allianz Risk Transfer (ART) to Hartmut Mai, who is Chief Underwriting Officer Corporate for AGCS. This move reflects the increasingly close interactions between the traditional Corporate lines of business of AGCS and ART’s Corporate Solutions division, which offers specialized alternative risk transfer and multi-line insurance solutions for companies.

Chris Fischer Hirs, AGCS SE CEO, comments: “Paul will be an excellent addition to the AGCS Board of Management, with his strong technical underwriting expertise and deep knowledge of global insurance markets. On behalf of the AGCS Board of Management, I welcome him to our global leadership team and look forward to working with him in his new role. With his strong understanding of both traditional and alternative insurance solutions, Simon is well positioned to lead our global Marine and Energy underwriting teams.” Noting the increasing opportunities for collaboration between ART and AGCS’ traditional business, he added: “Our corporate clients increasingly look to us to help them develop custom-built solutions to both established and new risks. By leveraging our combined expertise, we can further expand our services in this fast growing and highly specialized area.”

Paul O’Neill has been Global Head of Marine and Energy since 2014 as well as Global Head of Energy, a role which he has held since 2005. A chemical engineer by training, he initially worked in the energy industry prior to moving into the insurance sector where he performed risk engineering reviews for the London insurance market. While working at Lloyd’s, he transitioned into underwriting and later joined Allianz as the Regional Manager for Energy in Singapore in 2003.

Simon Buxton has over 20 years of experience in the reinsurance industry and took over the position of AGCS Global Head of Reinsurance at the start of 2013. Prior to joining AGCS, he was Head of Reinsurance Solutions for Allianz Risk Transfer for five years. Before joining Allianz Risk Transfer he qualified as an actuary and worked in the insurance industry in a range of consulting and underwriting positions in Bermuda, Argentina and the UK.

Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. AGCS provides risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 12 dedicated lines of business.

Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses, and private individuals. Among them are the world’s largest consumer brands, tech companies and the global aviation and shipping industry, but also wineries, satellite operators or Hollywood film actors. They all look to AGCS for smart answers to their largest and most complex risks in a dynamic, multinational business environment and trust us to deliver an outstanding claims experience.

We constantly strive to deliver the best for our customers through our global team of around 4,400 employees from over 70 nationalities in 34 countries worldwide. As the one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial strength ratings and a global network in over 200 countries and territories. In 2018, AGCS generated a total of €8.2 billion gross premium worldwide.