Allianz launches commercial business, forms regional units

Allianz SE said Monday it has launched Allianz Commercial, its recently merged global commercial insurance business, and formed 11 regional units, each headed up by a commercial managing director.

Tracy Ryan, who was hired by Allianz earlier this year, was named president and CEO, Allianz Commercial, North America, which comprises U.S., Bermuda and Canada.

The other regions are Asia, Australia, Benelux and Nordics, Central and Eastern Europe, France, Germany and Switzerland, Iberia, Latin America, Southern Europe and the United Kingdom.

In March, Allianz announced it would merge Allianz Global Corporate and Specialty SE, its large-corporate business, with its mid-corporate insurance businesses into a single global commercial insurance business that would operate as Allianz Commercial.

The regional operational structure combines six current regional units of AGCS with Allianz’s national commercial businesses.