Changes to the Allianz SE Board of Management

Barbara Karuth-Zelle (51), currently CEO of Allianz Technology SE, has been appointed to the Board of Management of Allianz SE in charge of Operations and IT, effective January 1, 2021. She has been appointed for the standard term of three years for new appointments. She succeeds Christof Mascher (60), who is retiring on December 31, 2020 after more than thirty years with Allianz and after having served as a Member of the Board of Management of Allianz SE for more than a decade. Christof Mascher will continue to serve Allianz and will take over selected mandates.

Christopher Townsend (52) has been appointed to the Board of Management of Allianz SE in charge of Global Insurance Lines, including AGCS and Euler Hermes, Reinsurance, Anglo Markets, Middle East and Africa, effective January 1, 2021. He has also been appointed for the standard term of three years. He served as the CEO of AIG’s International General Insurance Operations until recently and succeeds Niran Peiris (59), who is also retiring on December 31, 2020 after spending more than twenty years with Allianz.

The Board mandate of Sergio Balbinot (62) has been extended for two years until December 31, 2022 and the Board mandates of Giulio Terzariol (48) and Ivan de la Sota (56) have been extended for five years until December 31, 2025.

barbara karuth zelle allianz
Barbara Karuth-Zelle
christopher townsend allianz
Christopher Townsend

Oliver Bäte, Chairman of the Board of Management of Allianz SE, said: “I thank Christof Mascher for his invaluable contribution and in particular, for laying the foundations for our digital transformation. I also thank Niran Peiris for his long-standing service, especially in challenging times. While I am sad to see our two esteemed Board colleagues leave, I look forward to Barbara Karuth-Zelle joining the Board. She brings with her a wealth of experience in Operations and IT. I am also very happy to welcome Chris Townsend, who is a proven leader with thirty years of experience in the insurance business and a deep knowledge of a large range of different markets.”

Michael Diekmann, Chairman of the Supervisory Board of Allianz SE, said: “Allianz owes gratitude to Christof Mascher for his three decades of service and his foresight in the area of technology. I also want to sincerely thank Niran Peiris for his dedicated contributions to the success of Allianz. With Barbara Karuth-Zelle and Christopher Townsend, we have found two very experienced new members for our management board. With their addition, along with the extension of the mandates of Sergio Balbinot, Giulio Terzariol and Ivan de la Sota, we were again able to form an experienced, stable and diverse management team.”

Both new board appointments are subject to regulatory approval.

The Allianz Group is one of the world's leading insurers and asset managers with around 125 million* private and corporate customers in nearly 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 737 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 2023, over 157,000 employees achieved total business volume of 161.7 billion euros and an operating profit of 14.7 billion euros for the group.
* Including non-consolidated entities with Allianz customers.
** As of December 31, 2023.

Press contacts

Christian Kroos
Allianz SE
Holger Klotz
Allianz SE
As with all content published on this site, these statements are subject to our cautionary note regarding forward-looking statements:

Further information

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