The Allianz Commercial business in Australia will be led by Phuong Ly following changes in global group arrangements that aim to improve the delivery of offerings across large and mid-sized customers.

Mr Ly has been Allianz Australia Chief GM Commercial since joining the company in Sydney in late 2021. Previously he had worked at insurers including QBE and IAG.

Munich-based Allianz announced last week that it was bringing together Allianz Global Corporate & Specialty (AGCS), which focuses on large clients, and operations serving mid-sized country-based accounts under one strategy and approach.

Allianz Commercial will feature a single commercial lead in each country or region to represent the businesses, simplifying the experience of clients and distribution partners.

“First and foremost, Allianz Commercial is about our customers and brokers - we want to make it as easy as possible for them to engage with us,” Allianz Australia MD Richard Feledy said.

“Serving large and mid-sized businesses from the one, global division - Allianz Commercial – provides a clear and easy path for brokers.”

Mr Feledy says creating Allianz Commercial also offers benefits including new career pathways for employees, the sharing of expertise from different parts of the world, and the ability to capitalise on the efficiencies that global scale and capability brings.

Allianz says the integrated approach anticipates the increasing globalisation of risks and closes internal structural gaps in market reach. It also “extends Allianz’s product offering and delivery at the local level to meet a clear market need”, it says.