German insurance major Allianz has appointed Thomas Lillelund as the CEO of Allianz Global Corporate & Specialty (AGCS), with his tenure set to begin in early 2025.
The appointment is contingent on the completion of his current obligations and the receipt of regulatory approvals.
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Lillelund is also expected to take the helm of Allianz Commercial, the integrated global model of Allianz group that caters to the commercial property & casualty insurance segment, encompassing mid corporate, large corporate, and specialty customers.
With more than 25 years in the insurance industry, Lillelund, a Danish national, brings extensive international experience to his new role.
Previously, he held positions across various continents, including Europe, Singapore, South Africa, Hong Kong, the UK and the US, working with companies such as Aspen Re, Gen Re, and Swiss Re.
Most recently, Lillelund served as the CEO of AIG Europe, Middle East and Africa.
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By GlobalDataHis educational background includes a bachelor’s degree in economics from The College of William & Mary in the US and an MBA from Western University in Canada.
Allianz member of the board of management Chris Townsend said: “I am delighted to welcome Thomas to Allianz. He is known for driving profitable growth, for building cultures focused on clients and underwriting integrity, and for developing high-performing teams.
“I am looking forward to working with him and the talented team at Allianz Commercial to further drive our integrated approach for large corporate, mid corporate, and specialty customers worldwide.”
In May 2024, Allianz Commercial appointed Faith Kitchen as the head of client relationship management for the mid-market sector.
In August 2024, Allianz finalised the divestment of certain US assets to Arch Insurance North America, part of Arch Capital Group, in a transaction valued at $1.4bn (€1.26bn).
The deal, initially announced in April 2024, involved the sale of Allianz’s US MidCorp and Entertainment insurance businesses, along with selected specialty insurance programs from AGCS.
