End of an era for Allianz's Hanks

Many people thought it would never happen, but Allianz Commercial general manager Chris Hanks today announced he would retire after 45 years with the firm.

In typical Allianz fashion, the handover was well-planned and painless, with no uncertainty about the future. Current broker markets director Simon McGinn will replace Hanks, in keeping with the insurer’s rule of thumb to promote from within where possible.

Hanks will certainly be missed, especially by brokers. He was well-respected in the broking market and has been a strong voice in calling for commercial rate rises, even when the concept was unfashionable with other insurers.

A lasting legacy

Hanks is going out on a high, as he ran a very profitable part of Allianz and contributed to the insurer having one of the most stable combined operating ratios in the industry. He was also active in the Chartered Insurance Institute as president and deputy president.

McGinn is a good choice to replace Hanks, as he is seen as a safe pair of hands and is also well-known by brokers. It also shows the emphasis the insurer places on having good broker relations among its commercial top brass.

In an interview with Insurance Times, Hanks said he had no idea what he wanted to do next, but that he had enjoyed his time at the insurer. I’m sure he will get nothing but best wishes from the industry for whatever he chooses to do next.

In other big people moves, Aon UK has appointed former 3i Group managing partner and Marsh UK chief executive Bruce Carnegie-Brown as chairman.