Allianz revamps management

Allianz has appointed Christof Mascher as chief operating officer (COO) of Allianz Group and a member of the board of management, replacing outgoing COO Oliver Bäte. Jay Ralph, currently chairman of Allianz Life Insurance Company of North America, will also join the board of management in 2010, and at the same time will take over responsibility for the North America Free Trade Agreement region from Clement Booth.