Allianz Saudi Fransi Corporative Insurance Company announced that Mr. Xavier Denys has submitted his resignation from his position as CEO of the company, for personal reasons. The Board of directors accepted his resignation on November 29, 2018 effective December 31, 2018. The Board of Directors of the company also announced that it has received from the Saudi Arabian Monetary Authority the letter regarding SAMA no objection to appoint Mr. Andreas Brunner as Chief Executive Officer of the Company. He will assume his responsibilities effective January 1, 2019. Mr. Andreas Brunner held various leadership positions at Allianz since 2005. Since 2012, he is Partner and Member of the Executive Leadership Team at Allianz Consulting.