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November 25, 2022

AGCS to enhance alternative risk transfer business line

Allianz Global Corporate & Specialty (AGCS) has announced that it would strengthen its alternative risk transfer (ART) businesses line to provide new captive solutions, including captive fronting.

The expansion, which is aimed at offering customised property and casualty products, also includes the development of new structured solutions.    

The planned structured solutions will feature multi-year, multi-line coverages, such as parametric coverage.

These solutions are designed to shield a company from being over-exposed to several calamities or unexpected attritional losses.

As part of the new enhancement, AGCS will also make additional investment to grow its 90-member ART team by 20 new people.

By expanding the team size, the company plans to diversify its ART business into various segments including modelling, underwriting, legal expertise and claims.

AGCS chief underwriting officer of corporate Shanil Williams said: “Many of our clients seek bespoke solutions for an increasing array of risk scenarios from traditional to non-traditional such as supply chain or sustainability-related risks.

“With our ART line of business, we have a strong track record and market share in alternative risk transfer and aim to further grow our capabilities and footprint in this sophisticated segment.

“From our perspective, alternative and traditional risk transfer are very much complementary and we aim to realise the most suitable solution for each customer with one or the other or a combination of both.”

AGCS further noted that its AGCS Captive Solutions team, headed by Brian McNamara, has been incorporated into the company’s multinational business to help multinational firms with their individual in-house insurer.

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