Art Moossmann to Lead Allianz Specialty Insurance Drive.* Art Moossmann to join Board of Allianz Global Corporate & Specialty AG * Moossmann will head new specialty division * Allianz plans continued growth and expansion with specialty business MUNICH -- Allianz Global Corporate & Specialty AG (AGCS AGCS Accord General sur le Commerce des Services (French: General Agreement on Trade in Services) AGCS Antarctica and the Global Climate System AGCS Association of Golf Club Secretaries (UK) ) has announced that Arthur ("Art") E. Moossmann has been appointed to the AGCS AG Board of Management as Chief Underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. Officer for the company's Global Specialty division. Moossmann, who is based in AGCS's New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of offices, has taken on this role as from November 1st and will lead the insurer's newly formed Global Specialty division, which brings together AGCS's expertise in the Specialty lines of business including aviation, energy and marine. Totalling approximately [euro]1.3 billion (US$1.9 billion) - or nearly fifty percent - of AGCS's gross premiums in 2008. Specialty lines are a significant strategic segment for AGCS. The company plans continued growth and expansion within Global Specialty, alongside its other Global Corporate and Global Automotive divisions, continuing its strategy of global diversification. Moossmann joined AGCS in January 2009 as the global head of its marine business which combined Fireman's Fund Insurance Company's marine business in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. with AGCS's worldwide marine portfolio. Prior to joining AGCS, he was the President of Specialty Insurance at Fireman's Fund. Axel Axel: see Absalon. Theis, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Allianz Global Corporate & Specialty commented: "Art brings a broad array of experience in the specialty markets and is the obvious choice to lead our Global Specialty division. He has developed our Global Marine team with the integration of the Fireman's Fund portfolio with great success. We are now looking forward to the continued expansion of our Specialty capabilities under Art's leadership." Photographs: digital images are available on request. Notes to editors About Allianz Global Corporate & Specialty Allianz Global Corporate & Specialty is Allianz SE's dedicated carrier for corporate and specialty insurance customers. The company provides insurance and risk management consultancy across the whole spectrum of marine, aviation and corporate business, including Energy, Engineering, Financial Lines (incl. D&O), Liability and Property insurance, including International Insurance Programs. See the Allianz Global Corporate & Specialty website http://www.agcs.allianz.com for further details. Worldwide, Allianz Global Corporate & Specialty operates in over 150 countries worldwide through the Allianz Group network and through network partners. It employs more than 2,500 people and provides insurance solutions to more than half of the Fortune Global 500 companies, writing a total of [euro]2.9 billion gross premium worldwide annually (2008). Allianz Global Corporate & Specialty has a Financial Strength Rating of AA ('Very Strong') from Standard & Poor's and of A+ ('Superior') from A.M.Best. Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6104253&lang=en |
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