The Allianz, one of the largest insurance conglomerates worldwide, restructures its leadership in the area of industrial insurance. With the appointment of Petros Papanikolaou as the new head of the sector, the current Eastern Europe chief replaces successful restructurer Joachim Müller. The change at the helm of Allianz Corporate & Specialty SE (AGCS) marks a milestone in the company's strategic focus on the market for large companies and medium-sized businesses.

Müller took the helm at AGCS four years ago and led the company back into profitability. Under his leadership, the brand "Allianz Commercial" was successfully established in July of this year. Now, he is leaving the company at the end of his contract to take on new challenges. As one of the driving forces behind AGCS's success, Müller was also considered a potential candidate for the corporate board.

Petros Papanikolaou, a long-time Allianz veteran with 25 years of experience in the company, now follows him. Papanikolaou was previously CEO of the Greek subsidiary for eleven years and has been successfully leading the business in Central and Eastern Europe since 2015. His extensive knowledge of the group and unwavering commitment to success make him an ideal candidate for leading the industrial insurance division.

Papanikolaou takes over a division in good condition, thanks to Müller's successful restructuring efforts. With the brand "Allianz Commercial," AGCS has established itself as a strong partner in the market for large companies and SMEs. With his expertise and strategic focus, Papanikolaou will ensure that AGCS continues to lead the industry.

Finally, the insurance giant thanks Joachim Müller for his valuable contributions and dedication to the company. At the same time, they welcome Petros Papanikolaou as the new head of the industrial insurance division and are confident that he will continue to lead the company on its successful path.