Allianz Commercial has commenced operations in Australia led by MD Phuong Ly, after the insurer announced in March changes to strengthen its property and casualty business globally. 

As part of the changes Allianz Global Corporate & Specialty (AGCS) together with the commercial insurance business of local Allianz Property & Casualty entities will begin to trade as Allianz Commercial. 

Allianz Commercial is also moving to a new structure with 11 new regions, bringing together the current six regional units of AGCS with Allianz’s national Commercial businesses. 

Each region is led by one Commercial MD representing the integrated Allianz Commercial business to customers and distribution partners with a more consistent trading approach and a wider set of solutions. 

Australia is one of the 11 regions and is managed by Mr Ly, who was appointed to the position in March. He was previously Chief GM of the Commercial Division, a role he took up when he joined Allianz in October 2021. 

Allianz says the 11 regions have been designed to reflect market characteristics, broker and distribution practices, and geographic proximity. 

“The new regional set-up gives us the optimum footprint in all major commercial markets worldwide,” Allianz Commercial CEO Joachim Mueller said. 

“We will be able to play the full market in one consistent approach with advanced product solutions, which are grounded in global industry and underwriting expertise and delivered with local market knowledge.”