Allianz Re picks new chief reinsurance buyer ahead of renewals

Allianz Re has appointed a new chief group reinsurance buyer (CGRB), effective January 1, 2023. The announcement comes as the reinsurer’s chief underwriting officer has decided to retire after 15 years with the company.

Jan Störmann, CUO of Allianz Re, will retire by the end of June 2023 “to open a new chapter in his life and pursue some long-standing personal plans together with his wife,” the company said in a statement on LinkedIn. His successor is expected to be announced in due course.

Störmann responsibilities as CUO including the responsibility for the assumed business from Allianz entities will be transferred in the beginning of next year. He has been in the industry for more than 30 years. After various positions at EXKO Rückversicherungskontor and Guy Carpenter, he joined Allianz in 2007 as global head of reinsurance in AGCS and was appointed CUO Allianz Re in 2011.

Thorsten Fromhold (Pictured), currently head of portfolio management and retrocession will assume the role of CGRB as of January 1. The role will form a new, dedicated function within the Board of Allianz Re, separate from assumed business.

In his new role, Fromhold will be overseeing all external Allianz reinsurance placements including cessions out of Allianz Global Corporate and Specialty (AGCS) and Allianz Trade. The head of treaty reinsurance at AGCS, Eva Redomske, and the CEO of Allianz Trade Re, Benoît des Cressonnières, will have a matrix reporting line to Fromhold to coordinate external cessions, broker and reinsurer management topics in parallel to their solid reporting lines into their respective legal entities. Fromhold will be responsible for Group-wide wholistic reinsurer and reinsurance broker relationship management.

Fromhold started his career as a reinsurance broker and actuary at Guy Carpenter & Co and then worked for a Swiss reinsurer, before he joined Allianz Re in 2006. Since then, he held various roles before he took over the group retro and portfolio management team at Allianz Re in 2018.

Fromhold has been working closely with CUO Störmann and all brokers and key reinsurers in this role for the past four years.

“With his deep business knowledge and strong analytical expertise, as well as his proven leadership skills, Thorsten has the experience, the network and all necessary capabilities for this new role. We wish him the best of success in his new role,” the company said.

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