Oliver Bäte, Chief Financial Officer and Member of the Board of Management of Allianz SE, responsible for Controlling, Reporting, Risk will take responsibility for Insurance Western & Southern Europe as of January 1, 2013. His new board responsibility includes the Western European insurance activities except Spain, Portugal and the German-speaking countries, and it includes the Global Property and Casualty department.
Dieter Wemmer, Member of the Board of Management of Allianz SE, responsible for Insurance Western & Southern Europe will become Chief Financial Officer and take responsibility for Controlling, Reporting, Risk as of January 1, 2013. Additionally, he will be in charge of the Treasury department.
Michael Diekmann, Chairman of the Board of Management of Allianz SE, said: "By the end of 2012, Oliver Bäte will have set the course for the implementation of the upcoming Solvency II regulatory framework. That is the right moment to execute our plan for Oliver Bäte to take over operational responsibility for an insurance business and Dieter Wemmer to take over Oliver Bäte's responsibility. I am very happy that Allianz has a board that offers such an extraordinary breadth of capabilities."