Allianz Global Corporate & Specialty SE (“AGCS”) has promoted Emy R. Donavan to global head of cyber, reporting to Bernard Poncin, global head of financial lines at AGCS.
Ms. Donavan will succeed Nigel Pearson, who left AGCS to pursue other opportunities.
Ms. Donavan will oversee cyber insurance for both commercial companies and financial institutions as well as IT tech professional indemnity (“PI”) insurance.
With Ms. Donavan becoming global head of cyber, her position as regional head of cyber for AGCS North America will not be replaced, AGCS said in a statement.
AGCS said that Jenny Soubra and Terri Mason, who have country responsibility for cyber and IT tech PI products for the United States and Canada, respectively, will maintain their current focus.
Based in San Francisco, Ms. Donavan will lead a team of regional cyber underwriters globally and further develop AGCS's cyber and IT tech PI product suite.
AGCS said that it expects the global cyber insurance market to triple from the current $2.5 billion per annum by 2020.
Ms. Donavan's experience includes more than a decade of cyber, technology, and specialty errors and omissions underwriting.
Before joining AGCS as North American cyber practice leader in December 2015, she served as vice president of underwriting at AXIS Pro, focusing on cyber and technology placements. Prior to this, Ms. Donavan held roles developing the specified professions and technology division at Zurich North America.
She started her insurance career as an underwriter for ACE Group as a graduate of its management training program after earning a B.A. in rhetoric from University of California at Berkeley.
Mr. Poncin said, “I would like to thank Nigel Pearson for establishing our global cyber practice in the past three years and wish him the best for his future. Emy Donavan will be an excellent successor. Her profound cyber underwriting experience in the mature U.S. market and proven management track record will help us to further expand our footprint in the dynamic global cyber insurance market.”