Allianz Appoints Lara Martiner to Lead Alternative Risk Transfer
Allianz Commercial has announced that Lara Martiner will become the global head of alternative risk transfer (ART) at Allianz Global Corporate & Specialty SE (AGCS), effective April 1, 2025. Martiner, currently the CEO of Allianz Risk Transfer AG, a subsidiary of AGCS, will continue in that role.
Martiner, 47, will succeed Grant Maxwell, who is leaving Allianz at the end of June. Martiner joined Allianz in 2011 as legal counsel and head of compliance in Zurich. Throughout her tenure, she has held several leadership positions within AGCS and the ART division, becoming CEO of Allianz Risk Transfer AG in 2023.
This executive change reflects Allianz Commercial’s strategic focus on ART, driven by increasing client interest in non-traditional insurance solutions. These solutions include structured insurance, captive fronting, parametric products, and sustainability-linked solutions.
In 2024, the ART unit generated over €2.0 billion in gross written premium, including fronting premiums. Vanessa Maxwell, chief underwriting officer at Allianz Commercial, emphasized the area’s significance for growth, expressing confidence in Martiner’s ability to further develop existing capabilities.
The Rise of Alternative Risk Transfer
Alternative risk transfer encompasses financial strategies that help organizations manage risks outside of traditional insurance mechanisms. Popular instruments in this area include structured programs and parametric solutions as well as captive insurance arrangements. The demand for novel approaches to insurance is being fueled by challenges in specific lines like property insurance and large client losses.
Structured and parametric solutions remained the most frequently used ART products in 2024. Market pricing remained stable, with structured programs and non-catastrophe parametric solutions experiencing flat pricing trends; parametric natural catastrophe solutions saw rates fluctuate between -5% and +10%.
Allianz anticipates continued high demand for ART options, specifically among clients with complex risk profiles or unfavorable loss experiences. The company believes structured programs and parametric solutions will continue to meet insurance gaps and offer efficiencies not traditionally available.
