Allianz announces its new head of claims technical

Allianz Insurance has appointed Lee Watts to the position of head of claims technical.

In his new role Watts will take responsibility for the technical team and become a member of the insurer’s claims management board.

Watts joined Allianz in November 2015 as head of casualty claims, having previously worked at QBE for eight years in a variety of claims positions.

Allianz’s chief claims officer, Graham Gibson commented: “I am very pleased to welcome Lee to the position of head of claims technical. Since joining Allianz in 2015 he has built upon the strengths of the casualty team and I have every confidence that he will do the same in his new role.

“I look forward to his wider contribution to the Claims Management Board”.

The appointment comes a month after the announcement that Allianz was to take a 49% stake in a new joint personal insurance venture with LV=.

The LV= branded venture will be the UK’s third largest personal insurer with over £1.7 billion annual premium income.

Allianz is to pay LV= £500 million for the 49% stake. It will pay LV= another £213 million by 2019 in the second step for a further 20.9% stake in the joint venture.

The two insurers said that the transaction allowed Allianz and LV= to take a leading role in the growing UK retail sector “by creating a strong and customer-centric insurer in the personal home and motor insurance markets”.

Mark Dugdale