NEW YORK--(BUSINESS WIRE)--Allianz Global Corporate & Specialty SE (AGCS) announced a change in its global cyber leadership team. Effective March 31, 2017, Emy R. Donavan will be promoted to Global Head of Cyber reporting to Bernard Poncin, Global Head of Financial Lines at AGCS. Ms. Donavan, who is currently Regional Head of Cyber for AGCS North America, will succeed Nigel Pearson who has left AGCS to pursue other opportunities. She will oversee cyber insurance for both commercial companies and financial institutions as well as IT Tech Professional Indemnity (PI) insurance.
With Ms. Donavan becoming Global Head of Cyber, her regional role will not be replaced. Jenny Soubra and Terri Mason who have country responsibility for cyber and IT Tech PI products for the United States and Canada respectively will maintain their current focus.
Based in San Francisco, Ms. Donavan will lead an experienced team of regional cyber underwriters globally and further develop AGCS’s cyber and IT Tech PI product suite. Since 2013, AGCS has been offering a stand-alone cyber product, Allianz Cyber Protect Premium, in Asia and Europe as well as Canada. In 2016, AGCS North America launched ACCEPT Protect®, a cyber and professional liability coverage designed exclusively for the North American market. The global cyber insurance market is expected to triple from the current $2.5 billion per annum by 2020.
Ms. Donavan’s experience includes more than a decade of cyber, technology and specialty errors & omissions underwriting. Before joining AGCS as North American cyber practice leader in December 2015, she served as VP of Underwriting at AXIS Pro focusing on cyber and technology placements. Prior to this, Ms. Donavan held senior roles developing the specified professions and technology division at Zurich North America. She began her insurance career as an underwriter for ACE Group as a graduate of their management training program after earning a BA in Rhetoric from University of California, Berkeley.
AGCS Global Head of Financial Lines Bernard Poncin said: “I would like to thank Nigel Pearson for establishing our global cyber practice in the past three years and wish him the best for his future. Emy Donavan will be an excellent successor. Her profound cyber underwriting experience in the mature US market and proven management track record will help us to further expand our footprint in the dynamic global cyber insurance market.”
About Allianz Global Corporate & Specialty
Allianz Global Corporate & Specialty (AGCS) is the Allianz Group's dedicated carrier for corporate and specialty insurance business. AGCS provides insurance and risk consultancy across the whole spectrum of specialty, alternative risk transfer and corporate business: Marine, Aviation (incl. Space), Energy, Engineering, Entertainment, Financial Lines (incl. D&O), Liability, Mid-Corporate and Property insurance (incl. International Insurance Programs).
Worldwide, AGCS operates in 30 countries with own units and in more than 160 countries through the Allianz Group network and partners. In 2015, it employed more than 5,000 people and provided insurance solutions to more than half of the Fortune Global 500 companies, writing a total of €7.6 billion gross premium worldwide annually.
AGCS SE is rated AA by Standard & Poor’s and A+ by A.M.Best.