Torrance to take over as chief executive of Allianz’s Fireman’s Fund unit

Andrew Torrance

Andrew Torrance will step down as chief executive of Allianz UK to head up Allianz Group’s US subsidiary, Fireman’s Fund.

Allianz UK’s retail general manager Jon Dye will take over as UK chief executive.

Torrance is replacing current Fireman’s Fund chief executive Lori Dickerson Fouché, who has decided to “pursue her career outside of the Allianz Group”, the company said.

The new appointments will take effect as soon as all regulatory permissions are received, the company added.

Allianz Group board member and Allianz UK chairman Clement Booth said:  “Andrew’s achievements at Allianz UK in such a highly competitive insurance market made him a natural choice for this role. His experience and steadfast  commitment to the principle of profitable growth combines perfectly with the objective of Fireman’s Fund to improve the company’s profitability.”

Torrance has been Allianz UK’s chief executive since 2003. He joined the company in 1999, first as director then as general manager of the broker division.

Torrance said: “This is a new challenge in my career and as anyone will tell you I am a very competitive person. It was not an easy decision to make but I knew that I had in my leadership team a capable and experienced successor in Jon Dye. I heartily congratulate him on his well-deserved promotion.”

He added: “The fact that it has been possible to make these appointments so quickly represents a huge endorsement of the Allianz Group and this company  and its leadership team in particular. The continuity we are able to show in such circumstances is one of the reasons why we have enjoyed consistent  success in the UK.”

Dye said: “I am absolutely delighted to follow Andrew as chief executive as he takes on a new challenge in the US. He has been an exceptional leader of this organisation and we all owe him a huge debt of gratitude for the immense skill and focus he has shown during his time at Allianz UK.”

“I am confident that we will go on to achieve great success in the years ahead.  One of the reasons for that confidence is the excellent  people we have in this organisation who in my view are the best in the market.”