Allianz Commercial has announced the appointment of Jenna Contreras (pictured above) to the newly created position of portfolio solutions leader for wholesale and managing general agents (MGA)/programs.
The role is part of the company’s strategy to expand its presence in these distribution channels across North America. Contreras will report to Paul McGuigan, regional head of strategic relationships.
Based in Chicago, Contreras will oversee key strategic broker trading relationships in the US and Canada for the wholesale and MGA/programs sector. She joins Allianz Commercial from Risk Placement Services, the wholesale division of Arthur J. Gallagher & Co., where she served as national market relations manager.
Prior to that, she held business development roles at Prime Insurance Company and SIS Wholesale Insurance Services.
In addition to her professional role, Contreras serves as a board member of Young Risk Professionals and RISE, organizations focused on supporting young professionals entering the insurance industry.
Contreras’ appointment closely follows that of Aymeric Martin, who was named chief risk and resilience officer of Allianz Global Corporate & Specialty SE (AGCS SE), effective April 1.
The company’s revamped focus on the segment is in line with market projections for the sector at large.
In 2023, the US MGA market exceeded $102 billion in direct premiums written, marking a 13% increase from the previous year. This growth outpaced the overall property and casualty (P&C) insurance market, which grew by 10% during the same period.
MGAs also accounted for approximately 9% of the total US P&C direct premiums of $959 billion in 2023. The MGA market has nearly doubled in size since 2018, reflecting its expanding role in the insurance industry.
For Allianz Commercial, one key area for growth is its inland marine programs. The unit has 200 programs and counting during a stint of more than 55 years in the business. In total, it has also reached a global written premium of $1 billion.
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