Petros Papanikolaou, currently CEO of Central Europe for Allianz Group, will be appointed as the new CEO of AGCS. Mr. Papanikolaou will also assume leadership of Allianz Commercial, Allianz Group's integrated global model for serving the Commercial Property & Casualty insurance segment (Mid Corporate, Large Corporate and Specialty customers). He will succeed Joachim Müller who, having led the successful turnaround of AGCS as well as the launch and setup of Allianz Commercial, has decided to pursue opportunities outside of Allianz upon the expiry of his contract and will step down as CEO from December 31, 2023.