Press release -
Allianz Commercial names David Carey as MD, mid-market as part of major investment programme
Allianz Commercial has appointed David Carey to the newly created position of managing director, mid-market, effective from April 2023. In this role, David will be responsible for leading Allianz Commercial’s regional trading teams, focusing delivery on key customer segments and driving profitable growth.
This reorganisation is part of a wider, multi-year strategy, with Allianz investing heavily in simplifying and harmonising its business model to enhance broker and customer satisfaction.
David joins Allianz from Aviva where he is currently director mid-market & regional speciality lines - UK Commercial, with P&L accountability for their mid-market business. Previously, David held the position of head of mid-market at Aviva as well as leading roles in Commercial, Mid- Corporate and Real Estate insurance at Zurich. Reporting to Simon McGinn, CEO of Allianz Commercial, David will be building on the exceptional deliveries from the regional trading teams over the last 12 months under the leadership of Nick Hobbs.
Nick will be taking on the role of chief distribution officer, with responsibility for all aspects of distribution for Allianz Commercial, as the company brings new products and services to market as part of its transformation strategy. This strategy involves a game-changing investment in technology and modernisation, with an unswerving focus on the customer.
To underline the importance of this work to the business strategy, Jason Howes has been promoted to the role of director of business transformation for Allianz Commercial. Jason will be responsible for overseeing the company’s ambitious transformation activities.
Simon McGinn comments: “The appointments I’m announcing today should leave people in no doubt as to Allianz Commercial’s strategic ambition. We have the right people and the right programme of change in place to establish Allianz as a clear leader in the Commercial market.
“I’m delighted to welcome David to his new position. He is vastly experienced and well-respected in the commercial insurance market and adds to the great strength in depth we already have in our trading teams. The creation of this new role underlines Allianz’s investment in our mid-market and distribution capabilities - which includes a major systems transformation programme - and specifically our commitment to delivering intelligent growth and the best possible solutions for brokers.”
David Carey adds: “I’m very excited to be joining Allianz at this time and to be given the opportunity to play my part in the transformation of its Commercial business. The market faces a number of challenges but also opportunities and I believe Allianz is ideally positioned to work with brokers to address these and achieve profitable growth.”
The appointment of David Carey is subject to regulatory approval.
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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