Allianz Global Corporate & Specialty (AGCS) has announced the appointment of David Brown as head of its Capital Solutions unit, effective 1 July 2021.

Currently head of insurance linked markets, Brown will succeed Richard Boyd who is departing Allianz and moving back to the UK from Bermuda for family reasons.

Boyd joined what was then Allianz Risk Transfer (ART) in London in 2005, moving to ART Bermuda in 2008. He then became head of insurance linked markets in 2010 and in 2015 he served as chief underwriting officer for ART globally, later becoming global head of capital solutions.

Brown joined Allianz Risk Transfer in London in 2007 and relocated to Bermuda as an underwriter in 2010. In 2015 he became head of insurance linked markets and was appointed president of AGCS’ subsidiary, Allianz Risk Transfer (Bermuda) Limited, in 2020.

Grant Maxwell, global head of alternative risk transfer, comments: “Richard and David have worked together for many years, and so while we’re sorry to see Richard move on to take his next career steps outside Bermuda, David is ideally positioned to take over from him, and to continue to build this important part of our business. I want to thank Richard for his great contribution to AGCS and we all wish him well in the future.”