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Arthur Moossmann, the new CEO of Fireman's Fund.

(Bloomberg) — Allianz SE named a new chief executive officer for its Fireman’s Fund unit as Europe’s largest insurer prepares for a possible sale of the business and narrows its focus in the U.S.

Art Moossmann, a board member of Allianz’s global corporate and specialty unit, takes over as Fireman’s Fund CEO on Jan. 1, the Munich-based insurer said today in a statement. He replaces Andrew Torrance, who will step down, Allianz said. Fireman’s Fund sells policies to high-net-worth consumers.

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