26 September 2022
Allianz Retire+ bolsters leadership aligned to refreshed strategy
· Andrew Stewart announced as Head of Distribution Wealth
· Malcom Weir joins as Head of Life Protection
· New board member, President and Chief Executive Officer Allianz Life Insurance Company of North America Jasmine Jirele
Sydney, Australia (26 September 2022) Allianz Retire+ today announces three new appointments to the leadership and executive team aligned to its refreshed strategy.
Allianz Australia Life Insurance CEO, Adrian Stewart said, “Our vision is clear, we are committed to delivering flexible retirement solutions to superfunds, platforms and advisers. These new appointments at the executive and Board level will support our strategic reset in delivering better outcomes for all Australian retirees.”
Allianz Retire+ welcomes Andrew Stewart to take on the new role of Head of Distribution Wealth and Malcom Weir as Head of Life Protection.
Speaking on the appointments, Mr Stewart said, “Andrew has in excess of 28 years in distribution experience and brings with him deep relationships with the financial planning community. Andrew has held senior roles in Australia’s largest institutions including Colonial First State, IOOF and Ausiex (Commsec). Andrew deeply understands the needs of planners and advisers. His experience and extensive network align to our refreshed distribution approach to deliver next generation retirement income solutions on platform.”
“Malcolm’s experience within life protection and insurance as the General Manager, Life Customer Solutions for CommInsure and most recently Head of Insurance at NobleOak, will be vital in guiding the business to achieve our renewed objectives. He brings 25 years of deep actuarial expertise and senior leadership.”
President and Chief Executive Officer Allianz Life Insurance Company of North America Jasmine Jirele joins the Board of Allianz Retire+ to provide global insight from Allianz’s US$165 billion business.
“Jasmine brings a wealth of experience building and leading Allianz’s retirement business in the US. We welcome her knowledge and expertise in pioneering products that are tried and tested in a more mature market like the US,” said Mr Stewart.
Allianz is a global leader in the provision of retirement solutions. With over 30 years’ experience in the US retirement space, it is also a market-leader in Germany and across Europe delivering customer-centric retirement solutions.
Allianz Retire+ has spent the past 12 months focused on restructuring the business functions to strengthen product manufacturing capability. The company has made significant investments in technology and retirement solution infrastructure to support a pipeline of innovative products that cater to the unique need of Australian retirees.
Mr Stewart continued, “As one of the only dedicated retirement specialists in the Australian market, we are committed to leading development in the retirement space. We have invested in world class retirement technology and administration services to deliver products with cutting edge platform integration and flexibility to address the needs of retirees. We have also hired product actuarial capability and product marketing specialists to realise our vision.”
Following the retirement income covenant which came into effect from July, trustees and superfunds are increasing their focus on retirement solutions offered to members.
Life companies have the capital and scale to deliver lifetime guarantees. As one of the world’s leading insurance companies, Allianz has a large, fortified balance sheet and the capital to manage this risk.
“We believe life companies have a significant role to play in solving the retirement problem within Australia and can deliver certainty by offering lifetime guarantees. We are ready to partner with superfunds and platforms to deliver these next generation solutions. Retirement is different and we must all work together to find solutions for the benefit of retirees,” said Mr Stewart.
Andrew Stewart, Head of Distribution Wealth
Andrew is an experienced leader with 28 years in financial services. Andrew began his career as Business Development Manager at Asgard, before moving to Colonial First State, then on to Head of Distribution at IOOF. Andrew has experience across the spectrum of financial services including managed funds, platforms, alternative investment, and stock broking. Andrew was most recently Head of Adviser Services at Ausiex after over a decade at Commonwealth Bank CommSec Adviser Services and holds a Bachelor of Commerce from Deakin University.
Malcolm Weir Head of Life Protection
Malcolm is a senior executive with a strong track record of leadership and demonstrated ability to deliver transformational change in complex environments. With over 25 years working in financial services Malcolm has held roles at Swiss RE in Zurich and GE Insurance London before relocating to Australia for a decade tenure at AXA/AMP. Malcolm was the General Manager, Life Customer Solutions for CommInsure and most recently Head of Insurance at NobleOak. Malcolm is a Fellow of the Institute of Actuaries and the Actuaries Institute of Australia and holds a Bachelor of Commerce (Hons) (Actuarial Studies) from the University of Cape Town, and a Bachelor of Science (Mathematics and Mathematical Statistics) from the University of Kwa-Zulu Natal.
Jasmine Jirele, President and Chief Executive Officer Allianz Life Insurance Company of North America
With more than 25 years in the financial services industry, Jasmine is the president and CEO of Allianz Life Insurance Company of North America (Allianz Life). She has broad experience in financial services strategy, marketing, product, and operations. Prior to becoming CEO in 2021, Jirele led the Growth and Marketing team where she was responsible for strategy, new markets, global business development, product innovation, marketing, digital and experience management, Allianz Ventures, strategic communications and sponsorships, and enterprise Agile. She also has previous experience as executive vice president at Wells Fargo.
Jasmine holds a B.A. in business and journalism from the University of St. Thomas (Minnesota) and an MBA from Hamline University (Minnesota). She is a Director of Allianz Australia Life Insurance Holdings and Allianz Australia Life Insurance Limited. She sits on the board at ACLI and is a member of the Steering Committee on Taxation and co-chair of the Committee on Prudential Issues. Jirele is on the board of YMCA of the North and Blue Cross Blue Shield of Minnesota, for which she is a member of the Corporate Investment & Development Committee and Technology & Operations Committee. She also sits on the board of the Minnesota Business Partnership and serves as an advisor for the Washburn Center for Children’s Equity, Diversity, and Inclusion Committee. She is also a member of the Strategic Board of Advisors at University of St. Thomas’ (St. Paul, Minnesota, US) Opus College of Business, and the LIMRA LOMA Global Board, for which she is a member of the Audit Committee and Membership Committee. She holds FINRA Series 7 and Series 24 securities registrations.
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About Allianz Retire+
Allianz Retire+ delivers the next generation of retirement income solutions to the Australian market. Our financial product solutions are designed to simplify the complex financial and emotional challenges that can confront people who are heading into retirement. Allianz Retire+ is a world-first Australian venture combining the scale and expertise of international insurance provider Allianz and global investment expert PIMCO.
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