After eight years leading Allianz Holdings, Dye will step down as CEO in November 2021.

Dye joined Allianz in 2003, becoming its CEO in 2013, and during his tenure he has overseen several acquisitions including that of the general insurance businesses of Liverpool Victoria (LV=) and Legal and General (L&G), aiding Allianz in becoming one of the leading personal and commercial lines insurers in the UK.

In a Press release, Allianz noted that Dye’s legacy includes the successful integration of Allianz UK and LV= and his role in helping Allianz achieve a step-change in its market position.

Chris Townsend, board member Allianz SE, said: “I would like to thank Jon for his leadership of Allianz Holdings since July 2013, in particular for working through our recent UK acquisitions and successfully navigating through the challenges of the pandemic. We look forward to Colm joining us to take our business forward and capitalizing on our strong market position.”

Meanwhile, commenting on the news, Dye noted that he had thoroughly enjoyed his 18 years at Allianz and that it had been his privilege to lead the business as part of a successful team. He said he would be working closely with his colleague during the handover period of the next six months to ensure that the business is in the best possible shape for Holmes to take on.

Holmes, who has held senior leadership positions at JP Morgan Chase, Zurich Financial Services, and most recently, Aviva, where he served as CFO and GI CEO, was noted by Allianz for his deep understanding of the UK P&C market. The release noted that he will work towards strengthening Allianz’s position in the UK.

Source: Insurance Business Magazine