Allianz PNB Life Insurance Inc. (Allianz PNB Life) has reported that Olaf Kliesow, its president and CEO, has taken a new role of being Global Head of Rewards and Performance at Allianz SE, with the company naming Alexander Grenz as its new CEO.
In a statement issued on Tuesday, Allianz PNB Life said Kliesow has taken on a new role of being the Global Head of Rewards and Performance at Allianz SE based in Germany, which led the company to choose its new CEO.
“We also thank Olaf for his outstanding leadership in the last three 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. We wish Olaf the very best as he continues to drive success for the Group in his new role,” George Sartorel, Regional CEO of Allianz SE Asia Pacific, was quoted in the statement as saying.
Kliesow has been with the Allianz Group since 2010 and served as president and CEO of Allianz PNB Life for three years.
He will be succeeded by Allianz PNB Life COO Grenz, effective on June 1, still subject to regulatory approval. Grenz has been with the Allianz group for over 15 years and has been the COO of Allianz PNB Life for three years.
Grenz is expected to steer the growth and value creation of Allianz PNB Life, and continue to develop the close collaboration and partnership with the Philippine National Bank (PNB). He will report into the CEO of Regional (Asia Pacific) Life and Health, and join the Allianz Asia Board, as well as the Board of Directors of Allianz PNB Life.
“We congratulate Alexander on this appointment; he is a dynamic leader with a strong track record of delivering quality performance,” Sartorel added. “We’re confident he will take the company toward its next phase of growth.”
A successor to the role of COO will soon be announced.
Since 2018, Kliesow also served as president of the Philippines Life Insurance Association (Plia), providing strategic leadership toward the development of its life-insurance industry.
When asked if Kliesow still serves as the president of Plia as he will be moving to Allianz SE, Plia General Manager George C. Mina said in a text message that he still serves as president, but the Plia board will choose his successor on May 14 during its board meeting.
“Awaiting official tender of resignation, [this will] be taken up on the Plia board meeting on May 14,” Mina said.