Home (re) Insurance Latin America Allianz Global Corporate & Specialty appoints new regional leader for South America

Allianz Global Corporate & Specialty appoints new regional leader for South America

11 min read

Glaucia Smithson will join Allianz Global Corporate & Specialty (AGCS) as CEO of South America

She is succeeding Angelo Colombo who will leave AGCS later this year


Allianz Global Corporate & Specialty SE (AGCS), the corporate insurance carrier of Allianz Group, has appointed a new regional leader for its South American business: On August 12, Glaucia Smithson will join AGCS as CEO of South America, succeeding Angelo Colombo, who leaves AGCS in autumn. In this role, Ms. Smithson will report to Chief Regions and Markets Officer Sinéad Browne in London. Based in São Paulo, Smithson will lead the company strategy for the AGCS reinsurance carrier Allianz Global Corporate & Specialty Resseguros Brasil S.A. (AGCS Brazil), targeting profitable growth in Brazil and other key South American markets such as Chile, Argentina or Colombia. This appointment is subject to regulatory approval.

Smithson joins AGCS Brazil from Zurich Brazil, where she was Head of Commercial Insurance, Corporate Life and Pensions, as well as CEO of Zurich Reinsurance Brazil. In her more than 10 years with Zurich in both the United Kingdom and Brazil, she held increasingly senior underwriting roles, including Head of Commercial Lines and Chief Underwriting Officer. In addition to her time with Zurich, she also spent five years in London with global broker Willis Towers Watson. A legal graduate and qualified lawyer, specializing in contract law, Smithson also spent a number of years practicing and teaching law in Brazil, before moving to the insurance industry. She also holds two MBA degrees in International Business and Strategic Management.

Chief Regions and Markets Officer Sinéad Browne says “I am delighted to have Glaucia joining AGCS to lead our team in South America, one of our key growth markets. She brings with her more than 20 years experience in our industry, both locally in Brazil and in the international environment, and has the strategic perspective and growth-focused approach that will help us to build on the success we have had in Brazil and the wider South American region to date. I would also like to thank Angelo for his strong leadership track record in the past few years. He was the key figure in launching and expanding our business in South America and has built a strong team on ground.”

AGCS Brazil was established in 2013 and is headquartered in São Paulo. Working closely with Brazilian and South American business clients, as well as local direct insurers, AGCS Brazil provides specialized underwriting expertise and insurance solutions for stand-alone risks or as part of a global program. The carrier covers the full spectrum of corporate risks, including property, liability, engineering, financial lines, marine, energy and aviation. The business unit South America, which employs about 50 staff, contributed approx. EUR 100 million in gross written premiums to the overall AGCS premium volume of EUR 8.2 billion in 2018.


About Allianz Global Corporate & Specialty

Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 12 dedicated lines of business.

Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses, and private individuals. Among them are not only the world’s largest consumer brands, tech companies and the global aviation and shipping industry, but also wineries, satellite operators or Hollywood film productions. They all look to AGCS for smart answers to their largest and most complex risks in a dynamic, multinational business environment and trust us to deliver an outstanding claims experience.

Worldwide, AGCS operates with its own teams in 34 countries and through the Allianz Group network and partners in over 200 countries and territories, employing over 4,400 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial ratings. In 2018, AGCS generated a total of €8.2 billion gross premium globally.

For more information please visit http://www.agcs.allianz.com/ or follow us on Twitter @AGCS_Insurance and LinkedIn.

Cautionary Note Regarding Forward-Looking Statements

The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words “may”, “will”, “should”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “potential”, or “continue” and similar expressions identify forward-looking statements.

Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Allianz Group’s core business and core markets, (ii) performance of financial markets, including emerging markets, and including market volatility, liquidity and credit events (iii) the frequency and severity of insured loss events, including from natural catastrophes and including the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the Euro/U.S. Dollar exchange rate, (ix) changing levels of competition, (x) changes in laws and regulations, including monetary convergence and the European Monetary Union, (xi) changes in the policies of central banks and/or foreign governments, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures, and (xiv) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.

The matters discussed herein may also be affected by risks and uncertainties described from time to time in Allianz SE’s filings with the U.S. Securities and Exchange Commission. The company assumes no obligation to update any forward-looking statement.

Source: Allianz Global Corporate & Specialty (AGCS)

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