David Brown will take over as head of Allianz Global Corporate & Specialty (AGCS) capital solutions unit from 1 July 2021, succeeding Richard Boyd. Boyd, who has been head of insurance linked markets since 2010, has announced he will be leaving Allianz and moving back to the UK from Bermuda for family reasons. Brown joined Allianz Risk Transfer in London in 2007 and moved to Bermuda as an underwriter in 2010. He currently serves as head of insurance linked markets, which he was appointed to in 2015. In 2020, Brown was appointed president of AGCS’ subsidiary, Allianz Risk Transfer (Bermuda). Prior to AGCS, Brown spent his early career at Marsh, where he focused on structuring alternative risk transfer and captive solutions. AGCS’ capital solutions focus on the insurance linked securities (ILS) market. The capital solutions team forms part of AGCS’ alternative risk transfer business, which is led by Grant Maxwell, global head of alternative risk transfer, who was appointed in July 2020, based in London. Commenting on the leadership change, Maxwell says: “Richard Boyd and David Brown have worked together for many years, and so while we’re sorry to see Boyd move on to take his next career steps outside Bermuda, Brown is ideally positioned to take over from him, and to continue to build this important part of our business.” He adds: “I want to thank Boyd for his great contribution to AGCS and we all wish him well in the future.” In 2020, the alternative risk transfer segment generated nearly 4 per cent of AGCS’ global ‘gross net’ premiums of €6.2 billion. Brown's appointment is subject to local regulatory approval.
