New leadership for AGCS’ ART business, North American financial lines

The changes follow the resignation of Bill Guffey who was global head of ART

A shuffle in leaders at Allianz Global Corporate & Specialty (AGCS) means a new global head for the alternative risk transfer (ART) business and regional head of financial lines in North America for the insurer.

Paul Schiavone will lead the ART business and non-traditional (re)insurance business. He takes over from Bill Guffey who leaves the insurer after 15 years to pursue other opportunities.

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As head of ART, Schiavone will lead the business that focuses on providing solutions for corporate, industrial and financial clients facing unusual or complex risks, which can include specialty insurance fronting solutions, weather insurance, catastrophe bonds and specialty reinsurance coverage.

Schiavone was previously regional head of financial lines for AGCS North America. In his new role, he will continue to oversee ‘long tail’ lines of business for AGCS North America as regional head of corporate, specifically for liability and financial lines.

“I’d like to thank Bill for his many years at ART, culminating in his recent leadership of the team since he took over in 2014. He has contributed much to the growth of this important part of our business, and all at AGCS wish him well in the future,” said Hartmut Mai, chief underwriting officer for corporate lines at AGCS, in a statement.

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“Paul Schiavone is ideally placed to succeed him, with his strong track record of strategic business development as well as extensive contacts and deep expertise across our industry,” he added. “ART has been one of AGCS’ most successful lines of business and I look forward to working with Paul to develop this further in the future.”

AGCS has appointed a new leader, Laura Coppola, to manage the overall financial lines business in North America. She is currently AGCS’ North American regional head of management liability commercial.

“Laura has been a major driver of the successful growth of our financial lines business in North America in recent years,” said Schiavone in a statement. “She is well known to our clients and brokers across this market, and I’m looking forward to continuing to work with her as she takes the helm of our financial lines team.”

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