Allianz Elevates Kunzmann to Group Board as Buyback Wraps and Jefferies Hikes Target
Published on 10/08/2026 at 04:41 | Editorial boerse-global.de
Allianz SE has set in motion a broad reshuffling of its leadership bench, pairing a trio of unit-level appointments with the elevation of Tomas Kunzmann to the group's top decision-making body. The Munich-based insurer confirmed on 1 October that Kunzmann will join the board of Allianz SE on 1 January 2027, capping a sequence of moves that redraws the command structure across its direct business and international operations.
Philipp Kroetz is slated to take the helm at Allianz Partners on 1 November 2026, succeeding Kunzmann at the assistance and travel insurance arm. Laurent Floquet, meanwhile, will step into the top job at Allianz Direct. The two appointments clear the path for Kunzmann's eventual arrival in the group executive team and hand fresh mandates to leaders in units that sit at the center of Allianz's direct-to-customer strategy.
The reorganization extends beyond Germany's borders. Julien Martinez has been named to head distribution at Allianz France, taking over from Alexandre du Garreau, who is moving into a new role elsewhere within the group. Taken together, the changes signal an effort to sharpen the group's profile in core markets and tighten coordination between the international business and its national carriers.
Legal Advice Line and Hospital Cover Broaden the Product Shelf
Alongside the personnel decisions, Allianz Deutschland rolled out a telephone legal advice service aimed at registered customers who do not hold a legal protection policy of their own. For an annual fee of EUR 8.90, policyholders can use up to two consultations per insurance year, with guidance limited to private legal matters under German law.
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The private health insurance arm has also been busy. Roughly a week ago, Allianz Private Krankenversicherung launched "MeinKrankenhausschutz," a new inpatient supplementary product offering customers a choice of three tiers — Smart, Plus and Best. Certain existing customers can switch into the plan without undergoing a health review.
Buyback Closes at EUR 2.5 Billion
On the capital side, the insurer wrapped up its 2026 share repurchase program about two weeks ago. Allianz bought back a total of 6,247,961 of its own shares for a volume of just under EUR 2.5 billion, continuing its push to shrink the number of shares in free float.
Analysts took note of the broader business momentum. Jefferies adjusted its valuation on Monday, with analyst Philip Kett lifting his price target on the stock to EUR 420 from EUR 325 while keeping a "Hold" rating. Kett flagged technological trends as a key swing factor, writing that it is still too early to judge whether Allianz stands to gain from the use of artificial intelligence or whether it will be left nursing disadvantages.
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The shares ended the most recent session at EUR 416.30, a modest daily decline of 0.4%. Since the start of the year, the stock has added 6.2%.
Attention now turns to the operating figures. Allianz will publish results for the third quarter and the first nine months of the current financial year on 12 November 2026, giving investors their first detailed read on how the management overhaul is translating into segment-level performance.
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