Allianz SE Announces Updates to its Board of Management

• Oliver Bäte’s mandate as Chairman of the Board of Management of Allianz SE has been renewed through the Annual Shareholders Meeting 2028. 
• The mandate of Andreas Wimmer has been renewed through September 30, 2029.
• Claire-Marie Coste-Lepoutre has been appointed as Member of the Board of Management and Chief Financial Officer effective January 1, 2024.
• Giulio Terzariol to be granted a release from his mandate as of December 31, 2023 so that he may pursue a career opportunity outside of Allianz.

The Supervisory Board of Allianz SE announced the following leadership updates to the Allianz SE Board of Management: 

• The mandate of Oliver Bäte, 58, as Chairman of the Board of Management and CEO of Allianz SE has been renewed and extended through the Annual Shareholders Meeting in 2028. 
• The mandate of Andreas Wimmer, 49, as Member of the Board of Management responsible for Life and Asset Management has been renewed and extended for a period of five years. 
• Claire-Marie Coste-Lepoutre, 48, currently the Chief Actuary and Head of Planning & Controlling of Allianz SE and previously the CFO and deputy CEO of Allianz Global Corporate & Specialty SE, has been appointed as Member of the Board of Management effective January 1, 2024, subject to customary regulatory approvals. 
• Ms. Coste-Lepoutre will succeed Giulio Terzariol, 51, who will be granted a release from his mandate as a member of the Board of Management so that he may pursue a career opportunity outside of the company in his home country. His mandate was slated for renewal at the end of 2025, and Ms. Coste-Lepoutre has been working with Mr. Terzariol on the smooth transition of his responsibilities. 

Chairman of the Supervisory Board of Allianz SE Michael Diekmann said: 

“The Supervisory Board fully endorses the continuation of Oliver Bäte’s leadership, supported by his colleagues in the Board of Management, to maintain Allianz’s sustainable and profitable growth, to further develop its thriving and productive workforce, and sharpen its competitive positioning for the future.”

Chairman of the Board of Management of Allianz SE Oliver Bäte said:

“I thank the Supervisory Board for their confidence and support, and I look forward to continuing to serve the stakeholders of Allianz in a changing world. 

Giulio has been a wonderful colleague, leader, and friend who brought excellence and integrity to every aspect of his portfolio. We would have loved to retain him, but we respect his personal decision and know that he will be successful in his next role. 

As we look ahead to Allianz’s next chapter of growth, we are fortunate to have proven and high-performing leaders such as Andreas on our Board. We are also fortunate to have strong and talented leaders such as Claire-Marie in the succession and development pipelines across our company. She has been working closely with Giulio on a seamless continuation of leadership and is fully ready to step into her new role.”

About Allianz

The Allianz Group is one of the world’s leading insurers and asset managers with more than 122 million* private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 714 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 1.7 trillion euros** of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2022, over 159,000 employees achieved total revenues of 152.7 billion euros and an operating profit of 14.2 billion euros for the group***.* Including non-consolidated entities with Allianz customers.
** As of June 30, 2023.
*** As reported – not adjusted to reflect the application of IFRS 9 and IFRS 17. 

Disclaimer

Cautionary note regarding forward-looking statements

This document includes forward-looking statements, such as prospects or expectations, that are based on management’s current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements.

Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz’s core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) adverse publicity, regulatory actions or litigation with respect to the Allianz Group, other well-known companies and the financial services industry generally,  (iv) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (v) mortality and morbidity levels and trends, (vi) persistency levels, (vii) the extent of credit defaults, (viii) interest rate levels, (ix) currency exchange rates, most notably the EUR/USD exchange rate, (x) changes in laws and regulations, including tax regulations, (xi) the impact of acquisitions including and related integration issues and reorganization measures, and (xii) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.

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