Catharina Richter to lead Allianz Cyber Center of Competence
Dr Richter joins from Allianz SE, where she is currently Head of Digital Regulation, responsible for developing regulatory strategy for digitalization on behalf of Allianz Group and shaping the regulatory and supervisory debate in the field of cyber. A lawyer by training, she joined Mondial Assistance (now Allianz Partners) in 2000 as General Counsel, and since that time has been Head of Distribution & Solutions Legal Europe for Allianz Global Investors and Head of Regulatory Management for Allianz SE. In her new role as Global Head of the Cyber Center of Competence, Dr Richter succeeds Emy Donovan who had left AGCS last year.
The Allianz Cyber CoC was established in 2018 and focuses on Group-wide coordination and alignment of cyber exposures and insurance in the commercial insurance segment. Recent focus areas include the development of a new underwriting approach to clarify cyber exposures (‘silent cyber’) across commercial P&C policies, product governance and harmonization through a cyber master wording and the establishment of a global service provider network for Allianz cyber policyholders.
AGCS Chief Underwriting Officer Corporate Thomas Sepp commented: ‘’Cyber is the top global business risk in the Allianz Risk Barometer 2020 and a significant opportunity for insurance, but at the same time it also requires central governance, steering and control to realize sustainable growth. I am delighted that someone of Catharina’s background and ability will now take the Cyber Center of Competence to the next stage.’’
The existing AGCS standalone cyber insurance offering remains within the Financial Lines business line with overall responsibility of Shanil Williams, Global Head of Financial Lines, supported by Marek Stanislawski as Cyber Underwriting Manager. The AGCS global Cyber team will work in full alignment and close cooperation with the Cyber CoC to further evolve Allianz Group’s cyber insurance offering which combines financial indemnification with prevention advisory and post-incident crisis management services.
AGCS launched a first standalone cyber insurance product in 2013 and has seen steady growth since then in all its key markets globally. In 2019, for the first time, AGCS exceeded the 100 million euros gross premium written with cyber insurance solutions.
About Allianz Commercial
Allianz Commercial is the center of expertise and global line of Allianz Group for insuring mid-sized businesses, large enterprises and specialist risks. Among our customers are the world’s largest consumer brands, financial institutions and industry players, the global aviation and shipping industry as well as family-owned and medium enterprises which are the backbone of the economy. We also cover unique risks such as offshore wind parks, infrastructure projects or Hollywood film productions. Powered by the employees, financial strength, and network of the world’s #1 insurance brand, we work together to help our customers prepare for what’s ahead: They trust on us for providing a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and Multinational services as well as seamless claims handling. Allianz Commercial brings together the large corporate insurance business of Allianz Global Corporate & Specialty (AGCS) and the commercial insurance business of national Allianz Property & Casualty entities serving mid-sized companies. We are present in over 200 countries and territories either though our own teams or the Allianz Group network and partners. In 2022, the integrated business of Allianz Commercial generated more than €19 billion gross premium globally.
These assessments are, as always, subject to the disclaimer provided below.
** As of December 31, 2023.
Allianz Commercial (New York)