AGCS names Brown head of Capital Solutions, as Boyd to depart

AGCS names Brown head of Capital Solutions, as Boyd to depart

Allianz Global Corporate & & Specialty (AGCS) has actually designated David Brown as its new head of Capital Solutions, a group concentrated on the insurance-linked securities (ILS) market, moving insurance coverage danger to capital markets, as the current unit leader Richard Boyd is leaving the firm.Boyd has actually led the advancement of a substantial insurance-linked securities (ILS) associated fronting, danger transformation, risk transfer and facilitation operation at Allianz throughout the years.
He joined what was then Allianz Risk Transfer (ART) back in 2005, prior to relocating to Bermuda in 2008 for the business and then ending up being Head of Insurance Linked Markets in 2010, Chief Underwriting Officer for ART internationally in 2015, and finally Global Head of Capital Solutions.
Boyd is leaving Allianz and moving back to the United Kingdom from Bermuda for household factors.
His position will be filled by an internal promotion at AGCS, as David Brown, currently Head of Insurance Linked Markets will take control of as head of Capital Solutions from July 2021, based on local regulative approval.
Brown joined Allianz Risk Transfer in London in 2007, transferring to Bermuda as an underwriter in 2010 and ending up being Head of Insurance Linked Markets in 2015. He was likewise designated President of AGCS subsidiary, Allianz Risk Transfer (Bermuda) Limited, in 2020.
Grant Maxwell, Global Head of Alternative Risk Transfer, commented, “Richard and David have actually worked together for several years, therefore while were sorry to see Richard proceed to take his next profession steps outside Bermuda, David is preferably placed to take over from him, and to continue to construct this fundamental part of our company. I wish to thank Richard for his excellent contribution to AGCS and all of us want him well in the future.”
The Capital Solutions system specialises in structuring insurance coverage and reinsurance dangers into a type acceptable to capital market investors, such as moving disaster risk from insurance coverage carriers like AGCS to capital markets investors through partnering with specialist ILS fund supervisors.
The Capital Solutions group kinds part of AGCSs Alternative Risk Transfer business system, which specialises in producing non-traditional solutions for company risk transfer, and has seen its premiums broaden by nearly 20% per annum between 2016 and 2020, as interest in custom-made danger transfer services, consisting of access to the capital markets and ILS funds has actually grown.

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