Allianz unit reorganizes alternative risk transfer business

Allianz Global Corporate & Specialty (AGCS) has announced that it is reorganizing its Alternative Risk Transfer (ART) line of business into two specialist teams. Effective November 01, the AGCS insurance-linked market team will become a standalone line of business known as Capital Solutions. It will be led by Richard Boyd, currently ART’s chief underwriting officer. The remaining ART practice groups – corporate solutions, reinsurance, and climate solutions – will continue under the existing Alternative Risk Transfer name. They will be led by Michael Homann, who is currently global head of liability at AGCS.