Press release -
Simon McGinn to step down as Allianz Commercial CEO
Allianz Holdings has today announced that Simon McGinn, CEO of Allianz Commercial is stepping down effective July 1st.
Simon joined Allianz in 2004 as a trading director before moving into the role of director, commercial broker markets. In 2013 he was appointed to the UK management board as general manager for Commercial and led the business through a revision of its strategy driving modernisation, profitability and a growth culture. In May 2016, he was appointed to the role of General Manager for Commercial and Personal businesses with responsibility for all of Allianz UK’s market strategy and trading business operations. Following a restructure in 2021 he was appointed CEO of Allianz Commercial.
Colm Holmes, Allianz Holdings CEO commented: “Not only has Simon a long history of driving success in our business he’s also been at the helm for milestones including Brexit, our joint venture with LV= and of course Covid-19. He leaves a substantial legacy and I’d like to thank him for his enormous contribution to Allianz UK.”
Simon McGinn added: “We have built a great business across both Commercial and Personal lines and I’m hugely proud of all we’ve achieved. It’s been wonderful to work with such fantastic people and I wish Colm, Nadia and all the team the very best as Allianz continues its transformation journey.”
The appointment of Nadia Côté as Commercial managing director UK, was announced in March as part of a new Globally integrated approach bringing together Allianz Global Corporate & Specialty (AGCS) UK, which focuses on large clients, and Allianz Holding’s UK commercial business under one strategy and approach.
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About Allianz Holdings plc
Allianz Holdings plc is the non-regulated holding company which owns the principal insurance operations of Allianz SE in Great Britain including Allianz Insurance
About Allianz
The Allianz Group is one of the world's leading insurers and asset managers with 126 million* private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 716 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage nearly 1.8 trillion euros** of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2021, over 155,000 employees achieved total revenues of 148.5 billion euros and an operating profit of 13.4 billion euros for the group.
These assessments are, as always, subject to the disclaimer provided below.
*Including non-consolidated entities with Allianz customers.
** As of June 30, 2022
Cautionary note regarding forward-looking statements
This document includes forward-looking statements, such as prospects or expectations, that are based on management's current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements. Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz Group's core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates, most notably the EUR/USD exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions including and related integration issues and reorganization measures, and (xi) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.
No duty to update
The Allianz Group assumes no obligation to update any information or forward-looking statement contained herein, save for any information we are required to disclose by law.
