German insurer Allianz SE (ALV.XE) said Thursday that Amer Ahmed, 44, will head the group's reinsurance business, effective Jan. 1.

MAIN FACTS:

-Amer Ahmed will succeed Clemens von Weichs, 59, who headed the unit since 2009.

-Ahmed has been chief risk officer and a member of the unit's executive committee since 2007. In 2010, he was appointed president of the organization to manage all aspects of the daily business operations.

-Ahmed worked in close cooperation with von Weichs on the further strategic positioning of Allianz Re within the group and in the reinsurance market, in anticipation of his appointment to this position.

-Allianz Re is Allianz group's center of competence for risk management and capital management. It provides reinsurance solutions for Allianz subsidiaries and writes business for third-party clients in the open market.

 
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500