Allianz Australia Life Insurance has appointed Adrian Stewart as acting CEO,  replacing Matthew  Rady  who will be leaving the business.

Mr  Stewart will also oversee Allianz Retire+, a joint venture with investment management firm  Pimco to offer retirement products.

He was most recently  Pimco’s  client management head for Asia Pacific excluding Japan, with responsibility for  strategic initiatives  to achieve investors’ needs.

During his tenure at  Pimco,  Mr Stewart founded  Allianz Retire+ and has served as a Board Member since 2018.

“In appointing [Mr Stewart] as acting CEO, the board is instilling  a proven leader with a deep understanding of the worldwide capabilities of the Allianz Group in retirement income and life protection solutions,” Allianz Australia Life Insurance Chairman David Plumb said.

“[His] strong track record in growing client-focused financial services businesses in the Australian market keenly positions us for significant growth.”