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 started her insurance career as an underwriter for ACE Group as a graduate of their management training program after earning an BA in Rhetoric from University of California at 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.”
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