AGCS appoints new global financial lines chief

Allianz Global Corporate & Specialty SE (AGCS), the corporate insurance carrier of Allianz Group, has announced the appointment of Vanessa Maxwell as global head of financial lines. Maxwell (pictured above) succeeds Shanil Williams, who was promoted in January to join the AGCS board of management as chief underwriting officer, corporate. In her new role, Maxwell will report to Williams.

Williams served as global head of financial lines for AGCS from 2019 to the end of 2021, and will continue to oversee this line of business on an interim basis until Maxwell joins AGCS. Maxwell will take up her new role in June at the latest, the company said. Both Williams and Maxwell will be based in AGCS’s London office.

Financial lines is AGCS’s largest line of business, contributing approximately one-fifth of the company’s global premium volume in 2021, and is targeting new business opportunities across all regions with products including directors and officers coverage, professional liability and cyber insurance.

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Maxwell will join AGCS from Berkshire Hathaway Specialty Insurance, where she currently oversees the UK franchise as country manager. Prior to that, she served as head of executive and professional lines UK at Berkshire Hathaway. Before joining Berkshire Hathaway in 2017, Maxwell held various managerial roles in financial lines and professional liability underwriting at AIG in London and New York. She began her insurance career at AIG in New York in 2002.

“After a detailed search of talent in the market, I am very glad that Vanessa has decided to join AGCS and look forward to working closely together with her in this important area of our business,” Williams said. “She will take over the global leadership of our financial lines book at exciting times as we continue to boost our underwriting capabilities with new tools and technologies, and also look to expand our portfolio globally in a profitable way. Vanessa’s extensive underwriting know-how, as well as her global market experience, will be tremendous assets to continue the momentum we have in financial lines and drive further growth.”