Allianz Appoints Bowers New Asia CEO

August 11, 2004

Germany’s Allianz announced that Bruce Bowers has been appointed CEO of Allianz Insurance Management Asia Pacific Pt. Ltd., based in Singapore, with effect from September 1, 2004. He will succeed Alan Wilson who has held the position for the last five years.

Bowers previously served as the Country Manager of Taiwan and CEO of Allianz President Life Insurance Company, a joint venture between Allianz and Taiwan-based conglomerate the Uni-President Group since 2002. “During this period, the Company has moved from its market position of 17th to become the 4th largest life insurer in Taiwan. It is the leading unit-linked provider in the country, with revenues of over 900 million euros [$1.15 billion] in 2003,” said the announcement.

Bowers, 46, has over 25 years of experience in insurance management in the Asia Pacific region, in both life and general insurance business. He is married with four children.

Werner Zedelius, Member of the Board of Management Allianz AG responsible for Growth Markets including Asia Pacific, commented: “On behalf of Allianz, I would like to express my thanks to Alan Wilson for his valuable contribution to the development of the company in Asia, and we look forward to continuing to work with him going forward. I would also like to take this opportunity to congratulate Mr. Bowers on his new appointment. We are confident that under his leadership, we will continue to strengthen our presence in key strategic markets in Asia.”

Bowers will be succeeded by Chris Lossin in his role of CEO of Allianz President Life Insurance Company in Taiwan, subject to regulatory approval. Lossin was previously CEO of Ayudhya Allianz CP Life Insurance Company in Thailand and has over 25 years of insurance management and pension expertise gained in Europe and Asia.

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