Allianz : Changes to the Allianz SE Board of Management
09/25/2020 | 07:00am EDT
Group Communications and Corporate Responsibility
Changes to the Allianz SE Board of Management
Barbara Karuth-Zelle to succeed Christof Mascher
Christopher Townsend to succeed Niran Peiris
Board mandates of Sergio Balbinot, Giulio Terzariol and Ivan de la Sota extended
Munich, September 25, 2020
BarbaraKaruth-Zelle (51), currently CEO of Allianz Technology SE, has been appointed to the Board of Management of Allianz SE in charge of Operations and IT, effective January 1, 2021. She has been appointed for the standard term of three years for new appointments.
She succeeds Christof Mascher (60), who is retiring on December 31, 2020 after more than thirty years with Allianz and after having served as a Member of the Board of Management of Allianz SE for more than a decade. Christof Mascher will continue to serve Allianz and will take over selected mandates.
Christopher Townsend (52) has been appointed to the Board of Management of Allianz SE in charge of Global Insurance Lines, including AGCS and Euler Hermes, Reinsurance, Anglo Markets, Middle East and Africa, effective January 1, 2021. He has also been appointed for the standard term of three years. He served as the CEO of AIG's International General Insurance Operations until recently and succeeds Niran Peiris (59), who is also retiring on December 31, 2020 after spending more than twenty years with Allianz.
The Board mandate of Sergio Balbinot (62) has been extended for two years until December 31, 2022 and the Board mandates of Giulio Terzariol (48) and Ivan de la Sota (56) have been extended for five years until December 31, 2025.
Oliver Bäte, Chairman of the Board of Management of Allianz SE, said: "I thank Christof Mascher for his invaluable contribution and in particular, for laying the foundations for our digital transformation. I also thank Niran Peiris for his long-standing service, especially in challenging times. While I am sad to see our two esteemed Board colleagues leave, I look forward to Barbara Karuth-Zelle joining the Board. She brings with her a wealth of experience in Operations and IT. I am also very happy to welcome Chris Townsend, who is a proven leader with thirty years of experience in the insurance business and a deep knowledge of a large range of different markets."
Michael Diekmann, Chairman of the Supervisory Board of Allianz SE, said: "Allianz owes gratitude to Christof Mascher for his three decades of service and his foresight in the area of technology. I also want to sincerely thank Niran Peiris for his dedicated contributions to the success of Allianz. With Barbara Karuth-Zelle and Christopher Townsend, we have found
Chairman of the Supervisory Board: Michael Diekmann. Board of Management: Oliver
Bäte, Chairman; Sergio Balbinot, Jacqueline Hunt, Dr. Christof Mascher,
80802 Munich; Germany
Niran Peiris, Dr. Klaus-Peter Röhler, Ivan de la Sota, Giulio Terzariol, Dr. Günther
Phone: +49 89 3800 18475
Thallinger, Renate Wagner (Release / Stand 04.2020). For VAT-Purposes: VAT-
Fax: +49 89 3800 2114
Registration Number: DE 129 274 114; Insurance services are exempt from VAT.
Allianz SE, Munich, Comm.Reg.: Munich HRB 164232
two very experienced new members for our management board. With their addition, along with the extension of the mandates of Sergio Balbinot, Giulio Terzariol and Ivan de la Sota, we were again able to form an experienced, stable and diverse management team."
Both new board appointments are subject to regulatory approval.
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The Allianz Group is one of the world's leading insurers and asset managers with more than 100 million retail 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 766 billion euros on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage 1.7 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2019, over 147,000 employees achieved total revenues of 142 billion euros and an operating profit of 11.9 billion euros for the group.
These assessments are, as always, subject to the disclaimer provided below.
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.
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