Allianz Global Corporate & Specialty SE (AGCS) has announced that Thomas Liljlund (pictured above) will join the company as CEO in early 2025, subject to regulatory approval and completion of his existing commitments.

In his new role, Lillund will also lead Allianz Commercial, overseeing the company’s global commercial property and casualty (P&C) insurance business, which includes mid-sized and large corporates and specialty clients.

This announcement follows a recent leadership transition within Allianz. In August, Allianz appointed Petros Papanicolaou as Executive Director, Group Strategic Initiatives, Allianz SE.

Papanicolaou has transferred his duties as CEO of Allianz Commercial and AGCS SE to Chris Townsend, a member of the Board of Directors, who will serve as interim CEO until Lilleund is appointed.

A Danish national, Lilleund has over 25 years of international experience at Allianz. He is currently CEO of AIG EMEA and has held leadership positions at Aspen Re, Gen Re and Swiss Re, working across multiple regions including Europe, the UK, South Africa, Singapore, Hong Kong and the US.

He holds a BA in Economics from the College of William and Mary in Virginia and an MBA from Western University in Canada.

Townsend, who has assumed the role of interim CEO, has more than 34 years of industry experience. He joined the Allianz board in 2021 after serving as CEO International at AIG, where he led the general insurance business outside the United States, and as CEO of MetLife Asia. Townsend will continue in this interim role until Lilleund formally assumes his position.

In a statement, Townsend welcomed Lellund to the company, noting his strong track record of driving profitable growth, fostering customer-centric cultures, and building high-performing teams.

“I look forward to working with him and the talented team at Allianz Commercial to further enhance our integrated approach to large, mid-cap and specialty clients around the world,” said Townsend.

Papanicolaou, who took over as CEO of AGCS in January 2024 from Joachim Müller, will now focus on strategic initiatives at group level in his new CEO role. His leadership during the transition period was instrumental in ensuring the continuity of Allianz’s commercial insurance operations.

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