The German insurance company has been actively enhancing its services. Credit: Marlon Trottmann/Shutterstock.

Allianz Commercial has hired former Chubb executive Margaretha Mo as its new country managing director for the Nordics. 

Mo, who brings nearly three decades of industry experience, will oversee the P&C and specialty insurance segments for the Nordic markets, which include Denmark, Finland, Iceland, Norway and Sweden. 

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Her background in the insurance sector includes her most recent role as country manager for Chubb in Sweden.  

Based in Stockholm, she will report directly to Allianz Commercial regional managing director for Benelux & Nordics Elke Vagenende, who is set to commence her duties in April after her appointment in October 2023. 

Vagenende, joining Allianz from AIG, where she served as the global head of multinational, will be tasked with driving the commercial insurance business.  

Allianz Commercial chief regions and markets officer Dirk Vogler said: “Margaretha Mo is well known in the Nordics insurance and reinsurance market and I am delighted she is joining us at Allianz Commercial.   

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“She brings a track record of measured financial growth as well as strong change management experience gained from both carrier and broker sides. The team and I look forward to working with her to unlock the full potential of Allianz Commercial in the Nordics region.” 

Allianz Commercial, a division of insurance giant Allianz, caters to mid-sized businesses, large enterprises and specialist risk sectors.  

The German insurance company has been actively enhancing its services. 

Last month, Allianz announced the formation of a new in-house team dedicated to managing financial lines claims.  

This team, operating from Milton Keynes in the UK, aims to improve the claims process for Allianz’s directors and officers and professional indemnity products. 

Recently, the company closed the acquisition of Tua Assicurazioni from Assicurazioni Generali for €280m ($304.53m).  

This deal, announced in October 2023, is set to increase Allianz’s market share in the Italian P&C insurance sector by approximately one percentage point.