Allianz Commercial Appoints AIG Veteran Stephen Morton to Head Captive Solutions

Allianz Commercial has appointed Stephen Morton as its new global head of captive fronting and captive solutions, a move that brings a seasoned executive from a key competitor into a leadership role. The company announced Tuesday that Morton is set to begin his new position on March 1, 2027.

Leadership Transition

Based in Paris, Morton will report to Lara Martiner, the global head of alternative risk transfer at Allianz Commercial. He will succeed Brian McNamara, who is scheduled to retire at the end of September, according to the company's statement.

In his new capacity, Morton will be responsible for leading the expansion of Allianz Commercial's global captive solutions business. This segment is a critical component of the firm's alternative risk transfer offerings for large corporate clients.

Strategic Role and Background

Morton's mandate will cover the full suite of Allianz's captive services, which are designed to help multinational corporations manage their own risk. These services include:

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• Captive fronting arrangements
• Multiyear and multiline insurance programs
• Cross-border products facilitated by Allianz's international network

Morton joins Allianz from American International Group (AIG), where he spent 23 years in various senior roles. His most recent position at AIG was global chief underwriting officer for fronting and multinational, giving him direct and extensive experience relevant to his new role at Allianz.

Market Context

Captive insurance is a form of self-insurance where a parent company creates a licensed insurance subsidiary to insure its own risks. The appointment of a dedicated global head underscores the growing importance of captive solutions for large commercial insurers as corporations seek more sophisticated and customized ways to manage complex global risks. Morton's deep experience in multinational and fronting arrangements signals Allianz's intent to strengthen its competitive position in this specialized market.