Allianz Holdings is to create new personal and commercial lines divisions following the acquisitions of LV= General Insurance and L&G General Insurance. Allianz Personal will comprise the LV= Retail business, LV= Broker, L&G GI, Petplan, Home & Legacy and Allianz Musical Insurance. Allianz Commercial will comprise Allianz’s Mid-Corp Commercial, Engineering, Construction & Power, SME and Legal Protection businesses.

Steve Treloar has been named as CEO of Allianz Personal and Simon McGinn as CEO of Allianz Commercial. They will both report to Jon Dye, CEO of Allianz Holdings and sit on the Allianz Holdings management board.

Dye said: “These changes are the next step on our journey as we continue to build a well-balanced business that puts the customer at its heart and maintains a clear and resolute focus on delivering our business priorities.”

Allianz Personal will have gross written premiums of £2.6bn with 8.5 million customers and around 5,000 employees.

Treloar said “This is an extremely exciting time for our business. By bringing together all the personal lines brands under one roof it will give us even more strength, scale and expertise to ensure we can cater for a broad range of customers and partners across a large number of different channels.”

Commenting on the creation of Allianz Commercial, McGinn said: “Our new structure gives us a clear focus on our Commercial business and is designed to provide market-leading levels of support and expertise to deliver for our brokers and customers and maximise our potential in the market.”

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