Allianz Australia has started the search for a new MD after announcing that Niran Peiris will move to Germany to take a position on the global board.

As reported by insuranceNEWS.com.au in a Breaking News bulletin on Friday, Mr Peiris will leave Allianz Australia at the end of the year after 16 years with the company.

From January 1 next year he will be board member responsible for the property and casualty businesses in “Anglo” markets (including Australia and New Zealand), global insurance lines (including Allianz Global Corporate & Specialty), Russia and the group’s commitment to environment, social and governance issues.

These responsibilities are currently held by board member Axel Theis, who will take over insurance in German-speaking countries and central and eastern Europe.

“I am excited about the challenge,” Mr Peiris said in a statement.

“There will certainly be different management approaches as well as cultural differences, but I would like to think that some of my ideas from the other side of the world will enrich the debate and contribute to the company’s success.”

Mr Peiris joined Allianz in 2000 and was appointed CFO two years later. He took over the MD role in 2013 following the retirement of Terry Towell.

He was made Acting President of the Insurance Council of Australia last month, after former president Colin Fagen left the position following his departure from QBE.