Allianz brings AIG IGI CEO to take charge of global insurance lines

Former AIG international general insurance CEO Christopher Townsend has joined Allianz's board of management with the responsibility for global insurance lines, including AGCS and Euler Hermes, reinsurance, Anglo markets, Middle East and Africa.

Townsend succeeds Niran Peiris, who is retiring at year-end after spending more than twenty years with Allianz. Townsend will assume the position from January 1, 2021 for the standard term of three years.

Among other changes to its board of management, current Allianz Technology CEO Barbara Karuth-Zelle will be in charge of operations and IT, effective January 1, 2021, replacing Christof Mascher.

Mascher will retire on December 31, 2020 after more than thirty years with Allianz and after having served as a member of the board of management of Allianz SE for more than a decade. He will continue to serve Allianz and will take over selected mandates.

Lastly, the company has extended Sergio Balbinot's term for two years until December 31, 2022, and Giulio Terzariol and Ivan de la Sota for five years until December 31, 2025.

Oliver Bäte, chairman of the board of management of Allianz SE, said: “I thank Christof Mascher for his invaluable contribution and in particular, for laying the foundations for our digital transformation. I also thank Niran Peiris for his long-standing service, especially in challenging times. While I am sad to see our two esteemed Board colleagues leave, I look forward to Barbara Karuth-Zelle joining the Board. She brings with her a wealth of experience in Operations and IT. I am also very happy to welcome Chris Townsend, who is a proven leader with thirty years of experience in the insurance business and a deep knowledge of a large range of different markets.”

Michael Diekmann, chairman of the supervisory board of Allianz SE, said: “Allianz owes gratitude to Christof Mascher for his three decades of service and his foresight in the area of technology. I also want to sincerely thank Niran Peiris for his dedicated contributions to the success of Allianz. With Barbara Karuth-Zelle and Christopher Townsend, we have found two very experienced new members for our management board. With their addition, along with the extension of the mandates of Sergio Balbinot, Giulio Terzariol and Ivan de la Sota, we were again able to form an experienced, stable and diverse management team.”