ALLIANZ PNB Life Insurance, Inc. has named its new chief executive officer (CEO) effective June as its current head will be moving internally.

In a statement on Tuesday, Allianz PNB Life said its chief operating officer Alexander Grenz has been promoted as the president and CEO of the insurance firm effective June 1.

The company’s present chief Olaf Kliesow will be moving internally to take the role of global head of rewards & performance at Allianz SE.

Mr. Grenz has been with the Allianz Group for over 15 years, having a “deep understanding and experience of insurance management in the region and in the Philippines.”

During his stint as Allianz PNB COO, Mr. Grenz was responsible for the insurer’s operations, technology, and transformation functions.

“[H]e is a dynamic leader with a strong track record of delivering quality performance. [W]e’re confident he will take the company towards its next phase of growth,” Allianz Asia Pacific Regional CEO George Sartorei was quoted as saying in the statement.

Mr. Sartorei also expressed gratitude to Mr. Kliesow for “his outstanding leadership in the last years.”

“During his tenure, he has consistently delivered top and bottom line growth ahead of its market, as well as strengthened our distribution channels and solutions for our Filipino customers.”

Mr. Kliesow has been with Allianz since 2010, being the president and CEO of Allianz PNB Life for the past three years. He has also served as the president of the Philippine Life Insurance Association, Inc. (PLIA) since 2018.

PLIA General Manager George C. Mina said the association is awaiting the resignation of Mr. Kliesow.

“This resignation and who will succeed him will be discussed during the next PLIA board meeting on May 14,” Mr. Mina said in a text message.

He added that there is still no official date for Mr. Kliesow’s resignation yet, although the “agreement” is May 15.

Allianz PNB Life expects to book “low double-digit” growth this year amid improving macroeconomic conditions. — KANV