Advertise Here
Icon

Directory

IconActuaries
IconAssociations & Institutes
IconAuditors
IconBBBEE Consulting and Verification Agencies
IconBusiness Chambers
IconBusiness Process Management
IconBusiness Process Outsourcing
IconCall Centre Outsourcing & Sales
IconCompliance
IconConsumer Protection
IconCorporate Governance
IconCredit Bureaus
IconDebit Order Collection Facilities
IconEducation and Training
IconFAIS
IconHuman Resources
IconInformation Technology and Software Partners
IconLegal
IconLife Insurance Companies
IconLife Insurance Products
IconOmbud
IconOutbound Sales
IconPolicy Administration
IconPolicy Trading
IconPublications
IconRe-insurance Companies
IconRegulatory Authorities
IconSales and Sales Management
IconSocial Grants (Government)
IconSurveys and Research
IconTraining Courses & Workshops
IconWellness Programs
Image
  Subscribe To »

Grant Maxwell to lead Alternative Risk Transfer line of business at AGCS

Published

2020

Thu

23

Jul

 
  • Grant Maxwell appointed as Global Head of Alternative Risk Transfer at AGCS reporting to Chief Underwriting Officer Corporate Tony Buckle
  • Non-traditional risk transfer solutions increasingly important for multinational corporations

Johannesburg/London/Munich/New York/Paris/Sao Paulo/Singapore – 23 July, 2020:

Effective immediately, Grant Maxwell will be appointed as Global Head of Alternative Risk Transfer at Allianz Global Corporate & Specialty (AGCS), reporting directly to AGCS SE Board Member and Chief Underwriting Officer Corporate Tony Buckle. Since February 2020 Maxwell has led the global Alternative Risk Transfer (ART) team on an interim basis. AGCS’ ART line of business provides structured (re)insurance solutions including fronting solutions tailored to companies’ specific needs.

AGCS Chief Underwriting Officer Tony Buckle says “I look forward to working with Grant and his team to further evolve ART’s client offering and global model. AGCS focuses on serving large, multinational companies – and these are increasingly seeking innovative solutions to protect their earnings and cash flow risks or to cover unusual or complex risks, where traditional insurance products are inadequate. Therefore, ART solutions are an increasingly important differentiator for AGCS in the market.” 

ART Head of Underwriting & Portfolio Management since May 2019, Maxwell originally joined AGCS in March 2008 and was Regional Head of ART for AGCS’ Regional Unit London and also Head of ART Deal Management since February 2010. Prior to his time with AGCS, he held senior underwriting roles at XL Capital, Gerling and St Paul Re. Prior to that he was an actuarial consultant at Tillinghast, a unit of Willis Towers Watson. Maxwell is a graduate in Actuarial Mathematics & Statistics from Herriot-Watt University in Edinburgh, Scotland and is a Fellow of the Institute & Faculty of Actuaries.

Beyond traditional insurance solutions

ART was established as a standalone line of business at AGCS in November 2019, since then operating in the alternative risk transfer segment together with AGCS’ Capital Solutions line of business which specializes in insurance-linked securities to transfer insurance risks into capital markets. ART is organized as a global line of business with regional teams to service brokers and clients locally while ensuring access to experts around the world. In 2019, ART generated gross written premium of approximately 800 million Euro, including fronting premiums. 

ART solutions go beyond traditional Property & Casualty products and can help companies in several key ways such as self-financing atypical risk, transferring non-traditional risks or bringing multiple lines of coverage into a single, multi-year contract. They are also attractive for companies impacted by reduced earnings due to specific non-damage events like supplier failure where business is interrupted, but not by traditional events like fire or flood. Given this booming market, AGCS experts have highlighted five key trends in the ART space.

ART also specializes in providing structured global fronting services and/or reinsurance to captive (self-insurance) programs for large corporate customers, using Allianz’s worldwide network of local companies and partners. 

 
Source: Allianz Global Corporate & Specialty (AGCS) Africa
 
« Back to previous page Print this page » |
 

Breaking News »

SANDWICH PANELS: A Burning Issue - Understanding the Risk

Sandwich Panel related fires have resulted in major property damage and business interruption losses over the years. What are Sandwich Panels? Sandwich Panels or Composite Panels are structures made ...
Read More »

  

LIBERTY MAKES BOLD DECLARATION IN NEW BRAND REFRESH

With a pay-off line 'In it with you' the insurer says the time to rely only on just its innovative heritage is gone. It’s time to evolve, to show up better, to connect more and truly be a life partner ...
Read More »

  

1Life research: South Africa’s women are financially savvy with more women having life cover, and keeping it, than men!

This Women’s Month, 1Life’s research celebrates South Africa’s women by demonstrating that they are financially savvy and leading the way. The research shows that 12% more women have ...
Read More »

  

The long-term effects of COVID could affect South Africans for years to come

A report commissioned by Insurer Liberty suggests the long-term health effects of COVID-19 could mean drastic changes ahead for many South Africans. Meanwhile, the medical and financial services industries are ...
Read More »

 

More News »

Image

Healthcare »

Image

Investment »

Image

Retirement »

Image

Short-term »

Advertise Here
Image
Image
Advertise Here

From The Glossary »

Icon

Policy Year:

The year in which a policy was issued or renewed. The policy year is a special accounting unit, unique to the insurance industry, analogous to a cost accounting unit used in manufacturing industries. This unit is used for development of exact loss costs and loss ratios to relate losses under a selected group of policies to the exposure, and to the policy premiums.
More Definitions »

 

Advertise

 

eZine

 

Contact IG

 

Media Pack

 

RSS Feeds

By using this website you agree to the Terms of Use.
Copyright © Insurance Gateway (Pty) Ltd 2004 - 2020. All Rights Reserved.