Allianz Global Corporate & Specialty has revealed a host of leadership changes, pending regulatory approval, set to take place from January 1, 2024, according to AGCS.
Petros Papanikolaou, current CEO of Central Europe for Allianz Group, will assume the role of CEO at AGCS.
He will also take charge of Allianz Commercial, the integrated global model devised by Allianz Group to serve the commercial property & casualty insurance segment, encompassing mid corporate, large corporate, and specialty customers.
Mr. Papanikolaou has been CEO of Central Europe since 2015, with responsibility for Allianz national businesses across 11 countries, prior to which he was CEO of Allianz Hellas from 2004 to 2015 and a General Manager in the Life, Sales and Property & Casualty business.
Prior to joining Allianz in 1998, he served in a various financial management roles for AGF Kosmos and started his career as an auditor with EY.
He holds a postgraduate degree in business administration and management and a postgraduate degree in European studies from the Université Catholique de Louvain, as well as a bachelor’s degree in philosophy and literature from the University of Athens.
Chris Townsend, member of the Allianz SE board of management, said Papanikolaou’s extensive international leadership experience across the P&C business and his proven track record of execution will enable him to lead the company’s global integrated strategy to benefit Allianz Commercial customers and partners.
Under his leadership, Central Europe region is expected to reach EUR 1 billion in operating profit as of this year, and Allianz has become one of the largest and most profitable insurance companies in the region.
Papanikolaou will succeed Joachim Müller, who, after steering the successful turnaround of AGCS and overseeing the launch and establishment of Allianz Commercial, has opted to explore opportunities outside of Allianz. Müller will step down as CEO effective December 31, 2023. Townsend thanked Müller for his service and contributions to the company.
