Allianz Global Corporate & Specialty (AGCS) on Monday announced the launch of its suite of financial lines insurance products in U.S. markets. Paul Schiavone has subsequently been named to the new role of regional head of financial lines North America.
Schiavone will work to develop AGCS's financial lines business in the U.S., a strategically important market, which is responsible for 60% of global financial lines premiums. He will work closely with regional head of corporate North America, Hugh Burgess; global head of financial lines, Bernard Poncin; and chief underwriting officer for corporate lines, Hartmut Mai.
In his new role Schiavone will lead the North American team of existing professional indemnity, directors and officers and errors and omissions teams in Canada, as well as the professional liability teams coming to the company as part of the Fireman's Fund Commercial integration.
"We are truly excited to have someone of Paul's proven abilities and outstanding reputation to help us establish a North American Financial Lines team. By joining the existing groups in Canada with our Fireman's Fund team, we have the opportunity to introduce an exceptional AGCS solution to our clients and brokers throughout North America," Burgess says.
Schiavone joins Allianz from Zurich U.S., where he previously served in the Private Equity Practice. He has also worked in the London office of Zurich General Insurance as the Global Chief Underwriting Officer for special lines. He will be based out of the Allianz New York City office.
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