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.