Allianz snares AIG's Sharpe, shakes up leadership in 'New AGCS' transformation strategy

Allianz Global Corporate & Specialty (AGCS) has hired AIG's Jeremy Sharpe to lead its global distribution unit, taking over from Patrick Thiels who will now lead the Mediterranean & Africa region. The move is the latest in a series of actions taken by the carrier to revamp its specialist corporate insurer.

Earlier this year, AGCS’ new CEO Joachim Mueller launched a major transformation strategy to "regain profitability and market leadership" in the corporate and specialty insurance segment with its programme called "New AGCS".

Under the new structure, the company has unveiled a new regional set-up, a number of leadership appointments and a significant investment in its core functions, including an enhanced sales and distribution function.

AGCS has hired Sharpe from AIG to lead its global market-facing sales and distribution function, which was established by current head Thiels.

Thiels will now move to lead AGCS’ expanded Mediterranean & Africa region, succeeding the current regional managing director Corinne Cipière who will take on a board of management role at Allianz France from January 1, 2021.

Sharpe is currently head of broker engagement – international for AIG, based in London. He has 30 years’ experience in the insurance industry, including leadership roles at AIG and HSBC Group where he was global head of insurable risk management. He has also worked in the international broking sector for HSBC Insurance Brokers, Glenrand and C.E. Heath.

He will join AGCS from March 1, 2021, and will be based in London. Until then, Thiels will hold dual responsibility for the Mediterranean & Africa region and global distribution.

In his new role, Thiels will be responsible for the recently expanded Mediterranean & Africa region, covering France, Belgium, The Netherlands, Luxembourg, Italy and the whole of Africa, including AGCS’ South African unit. He will be based in Antwerp and Paris.

AGCS said this region is of strategic importance to the company, contributing over €800 million in gross written premiums.

Thiels is said to be a veteran of this market, having joined AGCS in 2013 as regional CEO Mediterranean when he was responsible for establishing this regional unit in its former setup. Previously, he led the Belgian and Luxembourg business for HDI Gerling.

Henning Haagen, AGCS SE board member and chief regions & markets officer, said: “I’m delighted to have attracted Jeremy to AGCS: he combines many years’ experience in the corporate insurance world with deep knowledge of client and broker relationships, and of sales and distribution, and will build on the strong foundation Patrick has established in setting up this global function for AGCS.

"I congratulate Corinne on her move to the Board of Allianz France and wish her well in that role, while welcoming Patrick in his new leadership position, where he is very strongly qualified to take charge of this important part of our global business.”