Jim Hagemann Snabe resigns from the Supervisory Board of Allianz SE

Jim Hagemann Snabe has informed the Supervisory Board and the Board of Management of Allianz SE that he will not stand for re-election to the Supervisory Board at the Annual General Meeting on May 4, 2022, and that he will resign from the Supervisory Board of Allianz SE upon expiry of his mandate on the same day. With this decision, Mr. Snabe wishes to address concerns expressed by investors who fear a so-called "overboarding" due to the mandates he holds in various companies.

The Allianz SE Supervisory Board and Board of Management acknowledge Jim Hagemann Snabe's decision with great regret and respect, and are grateful for his tremendous support of the entire Allianz on its digital transformation journey. 

As Vice Chairman of the Supervisory Board and, in particular, as Chairman of the Supervisory Board's Technology Committee, which was set up on his recommendation, Jim Hagemann Snabe provided valuable stimulus and constructively advised on the development of the Group-wide standardized Business Master Platform.

The Board of Management of Allianz SE is pleased that Mr. Snabe has agreed to continue to support the company with his knowledge and experience after his resignation from the Supervisory Board of Allianz.

It is planned to propose Rashmy Chatterjee for election to the Supervisory Board at the Annual General Meeting on May 4, 2022. Ms. Chatterjee has many years of experience in the technology sector. After more than two decades in leadership roles at IBM, she has served as Chief Executive Officer of ISTARI Global Ltd, a global company with a business focus on cyber security, since 2019.

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 746 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 1.8 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 March 31, 2024.

Press contact

Christian Kroos
Allianz SE
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