As part of its ‘Integrated Commercial’ strategy, Allianz has announced Managing Directors (MDs) to lead its Commercial insurance business in two key regions: in Iberia, Agustín de la Cuerda, and in Latin America, David Colmenares. Each Managing Director will represent the integrated Allianz Commercial insurance business across all countries in their region and bring to the market Allianz’s full set of solutions for specialty clients, large corporates and mid-sized companies, simplifying and enhancing the experience of clients and distribution partners. 

Agustín de la Cuerda has many years of leadership and technical insurance experience across Iberia and Latin America, including as Chief Operating Officer of Allianz Seguros (Spain) and Allianz Portugal, and since 2021 as Deputy General Manager and Commercial Chief Underwriting Officer (CUO) at Allianz Seguros (Spain). He will oversee Allianz Commercial’s business across Spain and Portugal, reporting to Veit Stutz, CEO of Allianz Spain in conjunction with Henning Haagen, Allianz Global Corporate & Specialty SE (‘AGCS’) Board Member and Chief Regions & Markets Officer whose responsibility includes this region.

David Colmenares Spence has been CEO of Allianz Colombia since 2017, prior to which he worked as Chief Claims Officer and Chief Executive Officer in insurance companies such as AIG, ACE (Chubb), Zurich and brokers including Marsh in Latin America and Asia Pacific.  He will continue as CEO of Allianz Colombia until further notice, pending the confirmation of his successor.  Allianz services clients across Latin America through its businesses in Argentina, Brazil, Colombia and Mexico and for multinational insurance programs through network partners in other countries. Colmenares will oversee Allianz Commercial’s business across this region, reporting to Javier Bernat, CEO Allianz Latin America in conjunction with Tracy Ryan, Board Member of AGCS and Chief Regions & Markets Officer for the Americas. 

Allianz announced on March 10, 2023 that it will serve the global commercial insurance segment as one go-to-market business, using the new trading name of Allianz Commercial, combining its AGCS business serving large corporate and specialty clients together with the insurance businesses of Allianz’s operating entities serving mid-sized country-based accounts. 

These appointments and responsibilities are with immediate effect, subject to regulatory approval where required.