Allianz Unveils Revamped Global Marine Unit

January 15, 2009

Allianz Global Corporate & Specialty announced that its “new global marine unit opened for business on January 12th 2009, under the leadership of Art Moossmann in New York and with dedicated marine teams in 14 major service centers worldwide.

Allianz said the “specialist unit brings together Allianz’s existing marine teams under the Allianz Global Corporate & Specialty (AGCS) brand, combining Fireman’s Fund Insurance Company’s marine business in the United States with AGCS’s worldwide marine activities. With a total of more than 450 specialist marine staff and a combined gross premium of around US$1.0 billion (2008), this now confirms AGCS as one of the leading global marine insurers.

The Company also noted that it has “moved quickly” since it announced the reorganization plan last August. “The Fireman’s Fund marine teams have now moved to the AGCS brand, and the company has confirmed its new marine leadership team, appointing Art Moossmann (formerly responsible for Specialty Insurance, which included marine business, at Fireman’s Fund) as Global Marine Head, based in New York,” said the bulletin.

“Working alongside Mr. Moossmann will be Dr Volker Bergeest (Global Marine Head for Europe and Asia-Pacific, based in Hamburg) and Hugh Burgess (Global Marine Head for North America, based in New York), plus John Barnwell (Global Product Leader, Ocean Cargo, based in New York) and Dr Sven Gerhard (Global Product Leader, Hull & Liabilities, based in Hamburg).”

Allianz also explained that the “new unit will offer a wide range of marine products alongside AGCS’s non-marine portfolio, ranging from Cargo (including International Insurance Programs) to Hull and Marine Liabilities as well as specialist Inland Marine and related services such as Risk Consulting. AGCS now has marine service centers in New York (and in 26 other locations across the United States), London, Zurich, Madrid, Copenhagen, Milan, Hamburg, Paris, Toronto, Vienna and Singapore, as well as distribution through the Allianz network in over 70 countries worldwide.”

Axel Theis, CEO of AGCS, noted: “The marine industry is truly global and so the development of a matching global marine capability is an integral part of our strategy. It allows us to deliver a high level of local service to our marine clients in their local markets. What’s more, they will now have easy access to the wide range of Allianz Global Corporate & Specialty products – marine and non-marine – through one point of contact.”

Moossmann added: “I’m very pleased by the rapid progress we have made in setting up this new marine team, and we are looking forward to developing our business in 2009. The Fireman’s Fund and Allianz Global Corporate & Specialty marine businesses fit together very well, making this a logical development which is demonstrated by the support we have received from clients and brokers worldwide to this move.”

Source: Allianz Global Corporate & Specialty –

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