Press release -
Allianz appoints Peter Milton as chief engineer
Allianz Engineering has appointed Peter Milton as chief engineer, effective 3 October, to succeed Peter Carless who retired at the end of September.
Peter Milton’s career spans more than three decades in the inspection and insurance industry. A chartered engineer with a diploma in Company Direction, he brings a wealth of experience, which will be very valuable as Allianz Engineering rolls out a new business strategy.
After graduating in mechanical engineering, he started his career at HSB Engineering Insurance, progressing to managing director. In that role, he helped the engineering division navigate technical and operational challenges, including the transfer of the business from AIG to Munich Re.
Peter Milton has sat on the board of the Safety Assessment Federation (SAFed) for 12 years, including five as chairman. As such, he has been an advocate for high standards of technical competence and health and safety in the statutory inspection and engineering services sector.
After a stint as managing director for testing and certification provider Lloyds British, he has worked as a consultant, before joining Allianz.
Peter Milton reports to chief claims officer Graham Gibson, who commented: “Peter Carless has done a splendid job, bringing together our engineering functions and getting that part of the business ready for the next stage of our strategy. On behalf of the board and his former colleagues, I want to thank him warmly and wish him all the best on his retirement.
“I’d like also to welcome – equally warmly – Peter Milton, who is bringing skills and experience that we will be calling upon in the coming months, when we unveil a new strategy for our engineering business. He is a great addition to the team as we embark on an exciting (and safe!) journey.”
About Allianz Holdings plc
Allianz Holdings plc is the non-regulated holding company which owns the principal insurance operations of Allianz SE in Great Britain including Allianz Insurance plc.
About Allianz Group
The Allianz Group is one of the world's leading insurers and asset managers with more than 100 million* private 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 around 790 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 are amongst the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2020, over 150,000 employees achieved total revenues of 140 billion euros and an operating profit of 10.8 billion euros for the group.
*Including non-consolidated entities with Allianz customers
These assessments are, as always, subject to the disclaimer provided below.
Cautionary note regarding forward-looking statements
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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