Friday, November 17, 2017

Allianz Life names new Korea CEO

Allianz Life Korea has named Sun Lei as its new chief executive in the country. He replaces current CEO Joos Louwerier, who has been leading the company in Korea since February 2016, sources said.

Sun has been the chief financial officer since November 2013. He previously worked at Allianz China Life for more than four years.

The leadership shuffle, which is expected to be announced officially soon, comes as Allianz Life Korea plans to change its name to ABL this summer.

The change of name follows after China’s Anbang Group Holdings acquired 100% stake in the Seoul-based insurer from the German-based insurance giant last year.

The transaction followed an extensive review by Allianz to secure long-term growth for Allianz Life Insurance Korea.

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