The Supervisory Board of ALLIANZ SE extended Oliver BAETE's contract as Chairman of the Board of Management until September 2024. The original contract was to expire end of September 2019.

"Under Mr. BAETE's leadership, ALLIANZ has developed extremely well over the past three years. The Supervisory Board is convinced that he is the right Chairman of the Board of Management for the challenges ahead," said Michael DIEKMANN, Chairman of the Supervisory Board.

Commenting on his appointment, BAETE said he is very pleased with the trust placed in him. "It confirms that the path we have taken and our strategic approach are right. Together with my colleagues, I will continue to do everything I can to ensure that Allianz stays successful in the future."