Allianz SE Names Mascher, Ralph To Management Board

Insurer Allianz SE (AZ) Thursday said its supervisory board has appointed Christof Mascher and Jay Ralph to its management board.

MAIN FACTS:

-Mascher takes over as Allianz Group's Chief Operating Officer from Oliver Baete with immediate effect.

-Baete assumed responsibility for Controlling, Reporting and Risk on the management board on Sept. 1, 2009.

-Mascher will also take over responsibility for the Assistance business (Mondial Group) from Jean-Philippe Thierry, who will retire from the management board at the end of this year.

-Mascher will also keep his mandate on the management board of Allianz Deutschland AG until his contract expires.

-Jay Ralph, currently Chairman of Allianz Life Insurance Company of North America, will join the management board on Jan. 1, 2010 and at the same time take over responsibility for the NAFTA region from Clement Booth.

-Booth will continue to be in charge of reinsurance and the global corporate insurance business as well as insurance activities in the United Kingdom, Ireland and Australia, and will assume responsibility for credit insurance from Thierry at year-end.

-Enrico Cucchiani, presently in charge of the Europe I (Southern Europe) and South America division, will take over responsibility for Europe II (France, Benelux) and Africa from Thierry as of Jan. 1, 2010.

 
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500