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Second Australian appointed to the Allianz Group's International Executive Committee

Sydney, 4 March 2010

Terry Towell, Managing Director of Allianz Australia, will be joined by Bruce Bowers, CEO of Allianz Asia (Singapore) on the International Executive Committee (IEC) of the worldwide Allianz Group. Mr Bowers, who currently heads the Group’s operations in Asia, will become the second Australian on the IEC.

The IEC consists of around 30 members comprising the Group’s Executive Board
plus the heads of key Allianz subsidiaries. The IEC assesses the main strategic issues facing the world’s largest property and casualty insurer.

“Mr Bowers’ inclusion reflects the growing importance of Asia for Allianz, which is also underpinned by the appointment of Allianz India CEO Kamesh Goyal,” said Werner Zedelius, Allianz Board member responsible for Growth Markets.

As the head of one of Allianz’s flagship companies, Terry Towell was appointed to the IEC in 2000, which has benefited from his significant knowledge and experience and seen Allianz Australia emerge as one of the Group’s leading companies in terms of growth, profitability and efficiency.

Mr Towell said, “Bruce is a highly experienced insurance executive and I welcome his appointment to the IEC, which reflects more generally the quality of Australia’s insurance management capability.”

Allianz Australia

General Insurance Company of the Year 2009*

The Allianz Australia Group operates in Australia and New Zealand. It includes one of Australia’s largest general insurers, a leading private workers’ compensation insurer, and a life insurer.

Allianz Australia delivers a wide range of personal, commercial and corporate insurance products and services. It is proud to be of service to more than 2 million policy holders and over 50% of Australia’s top 200 BRW listed companies have some form of insurance cover with the group.

Allianz Australia has approximately 3300 staff and is a wholly-owned subsidiary of the worldwide Allianz Group, one of the world’s largest financial services companies.
Greenhouse Challenge Plus
The Allianz Group’s commitment to social, environmental and economic sustainability has been acknowledged internationally by the Dow Jones Sustainability Index, which recognised the Allianz Group as the most sustainable primary insurance company in the world since 2006. In Australia, Allianz Australia participated in the Greenhouse Challenge Plus (GHC+) program - a cooperative partnership between industry and the Australian Government that aimed to reduce greenhouse gas emissions - and continues to adopt the GHC+ principles.

*Australian and New Zealand Insurance Industry Awards